The emergence of public technology platforms is slowly changing the financial services and lending landscape in India.at this economic status In this podcast, Hamsini Karthik talks with Kreditbee CEO Madhusudan Ekambaram about the future of public technology platforms.
Ekambaram emphasized in the podcast that the platform plays a key role in addressing the challenges of financial inclusion. Outside of major urban centers, these platforms act as bridges, allowing lenders to assess creditworthiness using a wide range of alternative data points. This approach helps serve the middle class and individuals who lack a good credit history. Unlike traditional lending platforms, it is not a direct lender itself, but a catalyst that enables lenders to make informed credit decisions. The public technology platform utilizes a comprehensive database of customer data, including credit histories, transaction records and property details.
The platform’s impact on customer engagement and underwriting is profound. By providing access to real-time data, it simplifies the decision-making process, reduces turnaround time and improves the accuracy of risk assessments. This is especially important in scenarios such as evaluating secured loans, where property details and other key information are immediately accessible.
While the concept is still in its early stages, Ekambaram stresses that its potential for positive change is enormous. Just as the adoption of digital banking services, Aadhaar and UPI has transformed the industry over the years, these platforms present a promising avenue for further financial inclusion, improved underwriting and better customer experience. As the platform continues to grow and more participants join, it promises to democratize access to credit and usher in a new era of collaborative financial innovation.
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(Moderator: Hamsini Karthik, Producers: Anjana PV, Jayapriyanka J)
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