Credgenics triumphs with dual wins at the IBS Intelligence Global FinTech Innovation Awards 2023


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.

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Credgenics launches Digital Collections Technology Platform in Indonesia


Credgenics, the leading provider of loan collections and debt resolution SaaS-based technology solutions to banks, non-banking finance, and FinTech lenders worldwide, announced today its expansion into Indonesia as part of its next phase of growth. Indonesia marks the firm’s foray into Southeast Asia (SEA) with a proven product and a deep understanding of the debt collections business beyond the Indian demographic. Credgenics is focused to work closely with lending firms in Indonesia and help them digitize and automate their end-to-end collections processes. Credgenics is already working with over 75 lending companies in India to improve their collection rates by 20 per cent and recover up to 80 per cent across delinquent accounts. The firm has a local team in place and will be further hiring and expanding its team based in Indonesia.

Commenting on the firm’s Indonesia strategy, Rishabh Goel, Co-founder, and CEO of Credgenics said, “The collections segment in Indonesia has issues like those faced by lenders in India. The non-performing loans (NPLs) are high, and collections are managed with manual and archaic processes. However, the future of collections is digital, and data driven. As the pioneer in technology-based debt collections, Credgenics has the right expertise to enable digital transformation of collections. Our foray into Indonesia cements our commitment to address the prevailing challenges in debt recoveries and the detrimental impact caused to the economies by the rising burden of bad loans. We are already working with some of the leading lenders in Indonesia and we are very excited by the response that we are getting.”

Throughout the COVID-19 pandemic, Indonesia, along with other countries in SEA, has seen the rise in non-performing loans (NPLs) and felt the urgency for digitization in collections. The uncertainties in the economies globally coupled with innovations in consumer lending and a differentiated customer experience is driving the demand for advanced technology solutions in collections.

Anand Agrawal, Co-founder, and CTO of Credgenics, said, “Indonesia is now ripe for technology-led disruption and Credgenics aims to add value to its customers with a digital-first and analytics-based approach. Our modular platform is available on a cloud setup based in Indonesia, which meets the local compliance needs and provides rapid scalability, business agility, and economies of scale. As part of its expansion, Credgenics is investing significantly to set up its infrastructure and team in Indonesia focusing on Banks, Micro Finance Companies (MFCs), FinTech, and digital lending firms. We will also continue to add new innovative capabilities to the platform as per the business needs of lenders in Indonesia.”

Credgenics offers an award-winning integrated collections platform that provides all capabilities to lenders through a single software including multi-channel digital communications, click-2-call auto-dialers, litigation management, physical and digital legal notices management, skip tracing, AI-powered predictor models for optimal collections strategy, field collections mobile app CG Collect, Billzy digital payments, dashboards, and Machine Learning-based analytical models.

Hendra Rahman, Country Manager of Credgenics in Indonesia, commented, “We have partnered with System Integrators and Core Banking Solution (CBS) providers in Indonesia and aim to acquire more clients. We will consistently seek to enhance our platform to meet the end-to-end retail collections needs of banks and other non-banking lenders. Credgenics is determined to enrich our platform with unique capabilities for lenders to increase the efficiency of their collections, enhance recovery rates and transform customer experiences.”

Headquartered in India, the team currently consists of over 400 employees in India and Indonesia, with plans to grow its Indonesian team across various major functions such as the leadership team, customer success, human resource, technology, product, sales, and marketing in the coming months.