123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Investing---Finance >> View Article

Credgenics, India’s First Of Its Kind Debt Resolution, Legal Automation And An End-to-end, Saas-base

Profile Picture
By Author: Stuti
Total Articles: 235
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

Credgenics, India’s first of its kind debt resolution, legal automation and an end-to-end, SaaS-based platform, today announced to increase its headcount by 100 skilled professionals. Credgenics intend to take the headcount to over 200 by the second financial quarter of this year. The new hires will be at entry (at the operational level) and mid-level and will be in areas such as product development, technology, legal, and operations. With the fresh hiring, across domains the team sizes are expected to grow, for instance the technology and legal teams of Credgenics will grow more than twice the size of their current strength. The fresh hiring will meet the growing demand of the client-base to provide seamless service delivery and build the end-to-end customized debt recovery solution that requires product augmentation, enhancements, scalable features, etc.
Credgenics works with diverse clients across the financial services, and is already catering to over Rs.580 crores of loan book. During the pandemic, Credgenics has signed India’s two leading and largest banks, ICICI bank and HDFC Bank. With Credgenics, the average ...
... time and cost of collections rates reduced from 68 days to 42 days and 22% to 14%, respectively. The collected amount increased from 74 to 83%. The present client size of Credgenics includes 06 large Indian banks and more than 34 NBFCs.
In his comments, Mr. Risahbh Goel, CEO and Co-Founder, Credgenics, said, “There has been a consistent growth in our client base and an increase in demand for our full-stack technological and service offering for debt resolution and management. We are looking for experienced professionals across functions and industries for seamless service delivery to our clients, while by no means compensating on our ethics. “
In his comments, Mr. Mayank Khera, COO and Co-Founder, Credgenics, said, “Debt collection by far is the most debated topic in the banking sector, but it is important to collect debts for financial robustness. It is even more important to collect debts, and retain customer. While the economic status of India is constantly elevating, it is important to free the markets of debts so that a healthy competition prevails and encourages MNCs to rapidly spend in the Indian market. We are working towards building and strengthening our legal team which will add value to our clients and will ensure successful business.”
“In the case of debt collection, information is the most powerful arsenal. Big Data Analytics helps acquire the most pertinent information by giving access to data that helps personalize debt collection. This is a powerful combination that was not available just a couple of years ago. We are looking at on-boarding tech leads, data scientists, and senior software engineers, etc., who will strengthen our technology arm and provide customized services to our clients, added, Mr. Anand Agrawal, CTO and Co-Founder, Credgenics.
About Credgenics: Co-Founded in 2018 by IIT-Delhi Alumni and eminent lawyers Rishabh Goel, Anand Agrawal, and Mayank Khera, Credgenics, is India's only technology enabled platform for resolution of non-performing assets in the larger BFSI and fintech lending space. The automation-first, analytics focused platform is robust, highly efficient, transparent, and cost-effective. Its intelligent system and case tracking tools manage and track loans from the very instance of the default till the final resolution stage. Credgencis also reduces human efforts in areas like digital communication, drafting, tracking of notices sent via speed post, and tracking of legal cases filed in court in an automated manner with relevant reminders implemented. NBFCs, Banks, ARCs, and fintech lending start-ups, can thus improve their collection efficiency using technology, automation intelligence, and optimal legal routes. Credgenics currently works with 2200+ lawyers and collection partners.

Total Views: 116Word Count: 599See All articles From Author

Add Comment

Investing / Finance Articles

1. 13 Common Misconceptions About Payment Gateways
Author: Sahil Verma

2. What's The Difference Between Insolvency And Declaring Bankruptcy?
Author: Insolvency Practitioners

3. What Is The Point Of Investing In Gold For Cash?
Author: Abhay Singh

4. 5 Tips For A Seamless Online Checkout Process Through Payment Gateway
Author: Sahil Verma

5. Project Loan For New Business – Financeseva
Author: ElisaThomas

6. Best Volume Indicators
Author: keith cooper

7. Why Is Asset Management As A Career A Good Idea?
Author: avendusgroup

8. What Is Transaction Success Rate (tsr)? Why Is It Important?
Author: Sahil Verma

9. The Importance Of Hiring Finance Companies To Help A Business
Author: avendusgroup

10. How To Reactivate A Dormant Trading Account?
Author: vicky roy

11. Digital Payments: Security Measures And Threats
Author: Sahil Verma

12. Beach Houses For Sale South Africa Are The Properties That Can Deliver Good Income For You!
Author: Andrew Botha

13. Why Is It Important To Know About Investments?
Author: avendusgroup

14. Everything You Need To Know About Fssai Registration
Author: Janvi sharma

15. Infinite Options For Traditional Menswear In India
Author: Vikram Sharma

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: