Latest news with #debtresolution
Entrepreneur
12-06-2025
- Business
- Entrepreneur
Credgenics Posts 40% Revenue Growth for FY24–25; Eyes Global Expansion
With its tools now handling collections across retail, SME, and MSME portfolios, Credgenics says it has helped lenders significantly cut costs while boosting recovery rates You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Credgenics, a SaaS-based debt resolution platform, reported a 40 per cent increase in annual revenue for FY 2024–25, pushing total earnings to INR 220 crore. The company also logged a profit before tax of INR 25 crore, reinforcing its position as a dominant player in the debt collections technology sector. According to a press release from the company, the performance reflects growing demand for digital-first, AI-powered solutions in a financial landscape grappling with scale and efficiency challenges. With its tools now handling collections across retail, SME, and MSME portfolios, Credgenics says it has helped lenders significantly cut costs while boosting recovery rates. The announcement also comes as Credgenics signals broader ambitions beyond India. "We plan to further expand our presence both in India and other geographical locations, including the South East Asia and Middle East," said Rishabh Goel, co-founder and CEO. "With our revenue growing consistently at a high pace with sustained profitability, we have reinforced our dominant market leadership in this space." Goel emphasized the company's intention to push deeper into AI, especially Generative AI, to improve customer engagement and further automate collections. "Our goal is to continue delivering superior business value through our AI powered innovative platform while enhancing the experience for credit consumers," he said. Anand Agrawal, co-founder and CPTO, added that the company's growth is being driven by customer demand for end-to-end solutions that simplify the collections process. "Over the past year, we have scaled our platform and added new capabilities to meet the growing aspirational requirements of our customers," he said. "We remain focused on providing excellence with innovation as we further expand our customer base while providing unique solutions for new and diverse business use cases." Credgenics' platform integrates tools like AI-based collections strategy prediction, digital payments, litigation management, and multichannel communication. Its use of technologies like predictive dialers, Gen AI-powered voicebots and videos, and an online dispute resolution system reflects the industry's shift toward automation and data-driven decision-making. The company is backed by firms like WestBridge Capital, Accel, and Beams Fintech Fund.
Finextra
20-05-2025
- Business
- Finextra
DCBL releases debt repayment app
DCBL has launched a Customer App to allow people to take the stress out of debt. 0 The app enables users to better manage their finances, at any time of the day or night, at the push of a button. The award-winning debt resolution company has launched its latest technological innovation to improve the support it offers to its customers and improve their financial wellbeing. DCBL's in-house tech team has built the app based on its deep understanding of customers and insights from the industry, which allow it to provide first-class support to each one of its customers. The proprietary app, available on the App Store and Google Play, features an interactive dashboard that allows users to view outstanding payments, access, and link past cases, view corresponding evidence, make payments, update their personal details, and contact the DCBL customer support team for further assistance. DCBL, which has won awards for its technological innovations in the industry, has introduced the app to better support its expansive customer base. The smartphone innovation gives customers full visibility of their debts and allows users to manage them more effectively, while also giving them direct access to its customer support team. DCBL Group Strategy Director, Lee Samuels-Camozzi, said: 'We're on a mission to take the stress out of debt. Providing support and peace of mind to our customers is paramount. Our new app gives users the ability to easily access and manage their finances, around the clock, which has direct benefits to their mental health and wellbeing. 'By listening to our customers, and conducting extensive consumer research, we have created a bespoke app which gives people the power to manage their finances and personal information in their own time. They are also able to ask questions and seek further support around their existing commitments and busy lifestyles. 'The app has been designed to help take the stress out of debt and support customers when they need it most. It accommodates every type of user preference, with customer support available via phone call, email, or WhatsApp. Our specialist Vulnerability & Welfare team can also be contacted through the app to provide help and guidance for anyone feeling the pressures of debt.' In its pursuit of continual improvement, DCBL has expanded its communications and payment channels further, recognising that a growing number of people prefer digital and self-serve options. DCBL's research of 2,000 UK adults found that the vast majority (93%) of people felt more in control of their finances when there was a mobile app available. The benefits of this technology span all age groups, with 86% of 25-34-year-olds saying apps can increase their ability to pay bills on time, whilst 84% of those aged 65+ said digital technology helps them feel in control of their money. Off the back of these findings, DCBL has designed its app to support all ages, income levels and backgrounds, as well as maintaining its existing communications channels. Lee Samuels Camozzi, continued: 'One of the major issues is that people put off paying debts as they think it is a complicated and lengthy process. Our app makes things easy. Users can check balances and make payments around their existing commitments, rather than leaving it to the last minute. It takes the stress out of debt. 'If our customers want to find out more information before paying, they can do so without the need to speak to a member of our team, however, the option to do so is available. The app gives customers the ability to seek further support via telephone or request a call back at a time that suits them.'
