Credgenics presents debt recovery technology platform for Asset Reconstruction Companies

Credgenics, with headquarters in Noida (India) is a company specializing in technology platforms for debt collection and debt resolution for banks, non-banking financial companies, fintechs and ARCs around the world, has presented a new version of its debt collection platform for Asset Reconstruction Companies (ARC) (An Asset Reconstruction Company is a specialized financial institution that buys the NPAs or bad assets from banks and financial institutions) which is now successfully integrated by Reliance Asset Reconstruction Company.

The solution aims to equip ARCs with comprehensive, insight-driven digital capabilities for more efficient debt resolution in the retail and SME segments.

ARCs face numerous operational challenges, from rising costs to creditor conflicts, from discrepancies in debt records to elusive borrowers, from data challenges to reconciliation gaps during the recovery of retail and SME loans. With rapidly expanding business portfolios, ARCs must adopt sophisticated digital and analytical capabilities that enable the application of tailored collection strategies. Credgenics’ SaaS-based debt collection technology platform offers a suite of innovative solutions designed exclusively for ARCs to ensure efficient debt collection, a superior borrower experience and rapid regulatory compliance.

The Credgenics debt collection platform for ARCs provides complete visibility into every stage of delinquency cases, including prior communications history, allowing ARCs to re-evaluate debt collection strategies. AI/ML models help ARCs evaluate the effectiveness of communications and realign outreach strategies to aid recovery. The platform provides advanced policy monitoring to ensure regulatory compliance for both collection agencies and internal teams working with the ARC. Automated trust settlement capabilities provide seamless reconciliations and customizable legal workflows for SARFAESI, legal notices and other legal actions for enhanced resolutions. The integrated mobile-based collections app digitizes field recoveries with unique features, including automatic case allocations, geolocation, geofencing, visit logging, and digital payments.

Rishabh Goel, co-founder and CEO of Credgenics, said: “We are at the forefront of the technology curve for debt resolution and management, driven by our passion to harness the power of digital and data with innovation. We are proud to be an enabler company in improving the financial health of credit consumers and the banking and financial services ecosystem, which supports the nation’s economic growth.ARCs play a crucial role in the financial services landscape and our technology solution was specifically designed with their operational challenges and business expectations in mind. We have already seen notable results with some of our key ARC customers and are confident that we will continue to add further business value in the future.

Mehul Gandhi, Chief Executive Officer, Reliance Asset Reconstruction Company Limited, said, “Reliance Asset Reconstruction Company is at the forefront of the transformation agenda embraced by the industry. Leveraging Credgenics’ digitalization and data-driven capabilities has been instrumental in taking our debt collection performance to the next level. The seamless digital advantage, integrated approach and comprehensive insights from data analytics have strengthened our legal communications process, accelerated resolutions and optimized overall processes. Partnering with Credgenics has been a highly valuable addition to our goal of establishing future-ready debt resolution capabilities.”

Roberto Sergio

Managing Director of Credit Village, Roberto Sergio has more than 20 years of experience in NPL and distressed debt in the Italian and International market. He is the editor of the NPL column in Credit Village Magazine and the director of Credit Village's National NPL Market Observatory.

Credit Village is a leading company in the field of specialized publishing and event organization for the credit management industry and in all issues and aspects related to the NPE market, including ESG , M&A, Real Estate etc. Credit Village has been the first company in Italy to bring the culture of the credit management industry to the press, events and online, creating the largest community in the sector around itself.