Digitisation, new technologies unlatched opportunities in debts' collections: Credgenics' Rishabh Goel4 min read 25 May 2023, 12:19 AM IST
Few regulatory policy changes by the RBI and finance ministry have brought the much needed clarity on various areas pertaining to the fintech, digital lending and digital banking ecosystem, opines Credgenics' CEO Rishabh Goel in a frank interaction with Mint. Here's excerpts.
Since decades the debts' collection by the lending firms and banks have been manual, long and tedious processes. Mountaneous paperwork and being bullied by lending agencies had not only harassed customers, but led to several legal battles. With the government and Reserve Bank of India making it clear not to bully lenders, the process of collections are more streamlined now. Adding on, digitisation has played a key role too. Software as a Service (Saas)-based debt collections and resolution technology platform Credgenics' CEO Rishabh Goel said in a frank interaction with Mint, on how the whole debts collection scenario has changed in past few years due to digitisation and arrival of new technologies.
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