Credgenics won the 'Most Innovative Use of Process Automation' for IREP Credit Capital and the 'Most Innovative Analytics Deployment' for another prominent financial institution
NEW DELHI, Dec. 5, 2023 /PRNewswire/ -- Credgenics, the leading provider of SaaS-based collections and debt resolution technology solutions worldwide, celebrated a momentous victory at the IBS Intelligence Global FinTech Innovation Awards 2023. Credgenics was honored with the prestigious win for 'Most Innovative Use of Process Automation' for the CG Collect collections technology platform implementation at IREP Credit Capital, and 'Most Innovative Analytics Deployment' for the project on Digital Collections with another leading financial institution.
Credgenics has consistently led the charge in delivering forward-looking technological solutions to address the challenges in the debt collection industry, leveraging its AI-powered SaaS-based platform. Through close collaboration with banks and non-banking financial lending institutions, Credgenics has played a pivotal role in the digitization and automation of their end-to-end collections processes.
To date, the company has successfully partnered with over 100 Banks, NBFCs, and digital lending firms, introducing data-driven, customer-centric, and innovative digital solutions to enhance loan collection processes. Notably, the recent awards bestowed upon Credgenics recognize the profound impact of the technology solutions on process efficiency, underscoring a substantial leap forward in redefining the borrower–lender dynamic.
Rishabh Goel, Co-founder and CEO of Credgenics, said, "We are grateful for receiving the prestigious twin honours at the IBS Intelligence Global Fintech Innovation Awards 2023 that acknowledge the unwavering dedication of the entire Credgenics team. Our collaboration with IREP Credit Capital underscores our commitment to innovation. This recognition fuels our passion, propelling us towards even more groundbreaking initiatives. I am excited about the path ahead, where Credgenics continues to redefine industry standards and delivers unparalleled digital and insight-driven experiences in the financial services sector."
Sasidhar T, Head of Collections at IREP Credit Capital, commented, "Winning the 'Most Innovative Use of Process Automation' award at the IBS Intelligence Global Fintech Innovation Awards 2023 underscores the power of tech-driven innovation that Credgenics brings, and it perfectly aligns with the vision of IREP Credit Capital. We are focused on empowering MSMEs and ensuring easy access to sustainable credit solutions, and Credgenics has been a dynamic partner in our journey. Credgenics has seamlessly integrated enhanced agility in collections towards our goal of making a meaningful impact on the credit landscape."
IBS Intelligence Global FinTech Innovation Awards identify and honour technology players, banks and financial institutions for their excellence in driving impact through technology implementations and innovations using emerging technologies. The fifth edition of the global awards saw 275+ nominations from 105+ banks and financial institutions and 75 technology vendors across 47 countries across the globe, in 30 categories. The back-to-back twin award wins in 2022 and 2023 at the IBS Intelligence Awards reaffirm Credgenics' mission to disrupt the debt collections industry and set new standards in delivering cutting-edge technology solutions.
Credgenics is the leading provider of Loan Collections and Debt Resolution technology platform to banks, non-banking finance companies, FinTechs, and ARCs worldwide. The AI-powered SaaS-based platform has been recognized twice as the #1 Best Selling Loan Collections Platform in India by IBS Intelligence in their Annual Sales League Table 2022 and 2023. Credgenics works with more than 100 customers and touched an overall loan book worth USD 60 Billion in FY23. It handles 11 mn retail loans accounts and sends 60 million digital communications every month. With Credgenics, lenders have increased resolution rates by 20%, improved collections by 25%, reduced collections costs by 40%, reduced collections time by 30%, and improved legal efficiencies by 60%.
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