Credgenics recognized as the Best Selling Loan Collections Platform for the second consecutive year in IBS Intelligence India Sales League Table 2023
- Credgenics adjudged the Market Leader in India’s Domestic Retail Lending category with the highest number of new sales order wins in 2022
- Credgenics secured the top position in retail collections for second year in a row
NEW DELHI, June 27, 2023 /PRNewswire/ — Credgenics, the leading provider of SaaS-based debt collections and loan resolution technology platform, is proud to announce that it has been recognized as the Market Leader in the Retail Lending Systems category in the IBSi India domestic Sales League Table. This prestigious recognition comes from the UK-based research and advisory analyst firm, IBS Intelligence in their Annual Sales League Table 2023, and marks the second consecutive year of Credgenics’ category leadership.
The IBSi Sales League Table, which has been operational for over two decades, is a renowned industry ranking that assesses and recognizes the sales performance of banking technology systems globally in terms of new order wins over the course of the year across 21 categories, including retail lending. It is widely recognized across the industry as a neutral benchmark for banking technology system sales globally. IBSi SLT 2023 saw participation from 57 technology suppliers, submitting 1,500+ deals spanning 134 countries. The India Domestic SLT has 250 qualified deals across 14 categories and 42 products this year.
Credgenics’ superior product capabilities, emphasis on innovation, and customer-centric approach have once again catapulted it to the top of the retail loan collections market, demonstrating its unmatched commitment to meeting the sector’s changing needs. Credgenics has created a huge impact on the lending ecosystem through its AI-powered SaaS based integrated collections technology platform, which allows lenders to digitize and automate their end-to-end recovery workflow, including multi-channel communications, collections strategy, field operations, litigation management, billing, digital payments, and reconciliation – from pre-due stages to various delinquency buckets, and field collections to legal stages. Credgenics’ innovative out-of-the-box approach with a digital first and data-driven model has helped lenders reimagine debt collections processes for the future.
Mr. Rishabh Goel, Co-founder and CEO, Credgenics, said, “We are thrilled to hold the prestigious position of being the Best Selling Loan Collections Platform in India for the second year in a row. This recognition reinforces our team’s unwavering dedication to quality and the trust that our customers place in us. We remain committed to driving innovation in the loan collections space, continuously enhancing our platform capabilities to deliver exceptional results, and providing value to our esteemed clients.”
“On behalf of IBSi, I extend my congratulations to Credgenics for holding the top spot in ‘Retail Lending in India Domestic SLT 2023′,” said Nikhil Gokhale, Head of Research Platforms at IBS Intelligence. He added, “The top position is a testament to Credgenics’ deep understanding of the Indian lending ecosystem, as well as their ability to deliver tailored solutions that meet the evolving needs of borrowers and lenders alike.”
Credgenics’ remarkable achievement in securing the top position in the IBS Intelligence India Sales League Table demonstrates its ongoing commitment to product excellence, customer satisfaction, and industry thought leadership. The company’s relentless pursuit of innovation and its unwavering focus on helping financial institutions maximize debt recovery, have cemented its position as the premier provider of loan collections technology platform.
About Credgenics
Credgenics is the leading provider of Loan Collections and Debt Resolution technology platform to Banks, Non-banking finance companies, FinTechs, and ARCs worldwide. The AI-powered SaaS-based platform has been recognized twice as the #1 Best Selling Loan Collections Platform in India by IBS Intelligence in their Annual Sales League Table 2022 and 2023. Credgenics works with more than 100 customers and touched an overall loan book worth USD 47 Billion in FY 22. It has handled 40 million retail loans to date and sends 60 million digital communications every month. With Credgenics, lenders have increased resolution rates by 20%, improved collections by 25%, reduced collections costs by 40%, reduced collections time by 30%, and improved legal efficiencies by 60%. https://www.credgenics.com
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