The credit facilities are easily available thanks to easier processes and multiple lending channels, leading to cumbersome and unstructured recovery process, leading to the further worrying NPA. The manual process for data analysis, maintenance and then the collection process of the debt has become a challenge for the banks, NBFCs, and Fintechs. Every delayed or endangered repayment leads to a sinking risk profile for the lending institutions. But their loan recovery departments become bad cops each time they remind the creditor for the repayment. There is now some respite though.

Credgenics, with their SaaS based platform render end-to-end services that begins with the data collection and stretches to the legal services in case of doubtful debts or lost assets. Founded by two IIT Delhi alumni and one Legal expert, Rishabh Goel and Anand Agrawal, and Mayank Khera, respectively we are backed by powerful investors like Titan Capital, Accel partners & Sequoia Capital. Our platform becomes a bridge between the lending and the collection platforms for their famed 32+ clients like Axis Bank, ICICI Bank, Kotak Mahindra Bank, MoneyTap, among many other names that can be boasted about. It is a SaaS-based platform that is fast gaining a reputation for the Client Relationship Management as they provide strategic guidance for loan recovery. 

Credgenics provides two main services to their clients — end-to-end recovery and legal remedies. The Collection Management System and Automated Recovery Pipeline are made easy through the delinquency CRM Tool as it maintains an advanced analytics dashboard. The dashboard shows the live tracking of the communication and reflects the analytics as well. The Credgenics technology platform provides daily updates for events and helps to sort and filter the portfolios using multiple variants. The communication and case details are then channeled through various modes that we have already discussed, and the cases are tracked with details intact. The legal services are robust with the dedicated team of lawyers pan India. It involves registering complaints against the defaulters in Indian courts and NCTs. While the criminal remedies range from ECS/Cheque dishonour to the breach of trust, the civil remedies include Arbitration and enforcement of award. For secured loans, assistance in the Sarfaesi proceedings are given to the clients. The bigger services segment however is for the end to end recovery of the loan. This service starts from the initial default and can include legal mediation, if required. SMS, mails, IVRs and legal notices are regularly sent, and the Speed Posts are duly monitored. The legal proceedings are also monitored to prevent the idiomatic expression of ‘justice delayed is justice denied’.

The growth curve of the Indian economy has a saviour in the form of a team of technology and legal experts who have together created this technology-aided platform that even delivers machine learning for predicting the loan recovery. This is not where the buck stops. The promises for more and better services are being kept through the upcoming technology stack that would provide Credit Risk Assessment, Advanced Analytics Dashboard, better Recovery Prediction, and Default Customer Analysis.

Apart from our fast-growing clientele, Credgenics is also in news for completing the seed funding and though it started in 2018, its young and innovative SaaS platform is all that the lending institutions need to convert their bad credits into good assets.