It is becoming something of a post-pandemic mantra in India: A lender whose portfolio of unsecured retail loans is not increasing by 50% annually is not trying hard enough. All kinds of bank and nonbank lenders are heaping credit on household balance sheets even though the consumer economy is fragile. A tiny minority is in great financial shape, but low-income earners are struggling with two-wheeler purchases and smartphone upgrades.
Lenders have to make the most of this uneven K-shaped recovery, especially if the current crisis in US banking snowballs into something sinister. While it's all very well to double down on consumer credit and extend it to subprime borrowers, the question is collection efficiency. How will they ensure repayments and prevent bad loans?
The answer: technology. Credgenics, a five-year-old startup on the outskirts of New Delhi, has taken a chaotic, labour-intensive activity run by tele-callers and field agents, and put the entire process on a digital collections platform. Its clients, which include large Indian banks, non-bank and fintech lenders, upload borrower data on a portal and set rules on when they want automated reminders sent and tele-callers to call.
Bu hikaye Mint Mumbai dergisinin March 29, 2023 sayısından alınmıştır.
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Bu hikaye Mint Mumbai dergisinin March 29, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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