Credgenics is a technology platform that utilizes machine learning and AI to optimize debt recovery processes for retail lenders by automating borrower engagement and personalizing communication strategies. The platform addresses inefficiencies in debt collections, enabling lenders to achieve up to 80% recovery rates and significantly reduce operational costs through data-driven insights and automated workflows.
Funding
$79.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
WCFounders
Product
Problem
Retail lenders face challenges in efficiently recovering debts due to outdated processes, lack of borrower engagement, and inefficient communication strategies. Traditional debt collection methods often result in low recovery rates and high operational costs. The absence of personalized communication and automated workflows further exacerbates these inefficiencies.
Solution
Credgenics offers an AI-powered debt recovery platform that automates borrower engagement and personalizes communication strategies to optimize the debt recovery process for retail lenders. The platform leverages machine learning to provide data-driven insights, enabling lenders to segment borrowers, prioritize accounts, and tailor communication across multiple channels. By digitizing field collections, automating legal workflows, and providing real-time analytics, Credgenics helps lenders improve recovery rates, reduce operational costs, and enhance overall efficiency in debt management. The platform's integrated approach ensures compliance with regulatory requirements and data security standards, while also offering features like digital payments and online dispute resolution.
Target Audience
The primary target audience includes banks, digital lending companies, NBFCs (Non-Banking Financial Companies), HFCs (Housing Finance Companies), ARCs (Asset Reconstruction Companies), and micro-finance companies involved in retail lending.
Features
- AI/ML-driven models for predicting borrower behavior and prioritizing accounts based on payment probability
- Automated and personalized communication via email, SMS, WhatsApp, IVR, and voicebots in multiple languages
- CG Collect mobile app for field agents with geo-tagging, route map planning, in-app calling, and offline updates
- Litigation management system for tracking section 138, Arbitration, and SARFAESI cases with real-time updates and performance monitoring
- Billzy platform for digital loan repayments with secure payment modes, instant payment link generation, and real-time transaction reconciliation
- Predictive dialer with advanced routing algorithms to reduce unanswered calls and increase connect rates
- Customizable workflows using a no-code automation tool for both simple and complex collection scenarios
- Real-time dashboards and visual reports for monitoring key performance indicators, agent performance, and collection rates