India, November 01 ,2023: Credgenics, the leading provider of advanced loan collections and debt resolution technology solutions for Banks, NBFCs, ARCs, and Digital Lending firms worldwide, is pleased to announce that Mr. R. Sridhar has joined the team as a Strategic Advisor to further strengthen its growth roadmap in the BFSI sector. With his extensive background in financial services and astute acumen in general management, Mr. R. Sridhar brings an unparalleled depth of knowledge and insights to guide the Credgenics team.
Following the achievement of a $50 million Series B funding round led by Westbridge Capital and Accel, Credgenics is moving ahead on its growth agenda. Mr. R. Sridhar's appointment comes at a critical juncture for Credgenics as the company aims to further expand its footprint in the financial services industry and explore more innovative use cases in debt management. With this association, Mr. R. Sridhar will assume the pivotal role of providing strategic inputs and harnessing his profound expertise in the banking industry to empower Credgenics in its quest to fortify its market presence. As a visionary luminary in India’s BFSI sector, Mr. Sridhar will channel his wealth of business insights and leadership proficiency to solidify Credgenics' presence in the industry.
Speaking on this appointment, Rishabh Goel, Co-Founder & CEO of Credgenics, stated, “We are delighted to welcome Mr. Sridhar to Credgenics as our Strategic Advisor. His exceptional professional experience and sharp acumen pertaining to the financial services sector will be invaluable as we continue to expand our presence and offer innovative solutions to our clients. We look forward to his strategic insights and mentorship, which will undoubtedly contribute to our continued success.”
Mr. R. Sridhar is an extremely distinguished banking and financial services industry professional with a remarkable career spanning over three decades. He holds a Bachelor’s degree in Science and is a fellow member of the Institute of Chartered Accountants of India. Mr. R. Sridhar has occupied a series of prominent positions within the financial services sector. At present, he serves as the Director of JR Capital Services, a testament to his financial expertise and leadership prowess. His prior roles include a transformative tenure as the Vice Chairman and CEO of Indo star Capital Finance from 2017 to 2022, during which he orchestrated remarkable growth for the company. Mr. Sridhar was the Managing Director & CEO of Shriram Transport Finance Company Limited, Mumbai, (STFC) from 2000. He has served as the Chairman of the Finance Industry Development Council (FIDC), a self regulatory organization for NBFC-AFCs.
Mr. R. Sridhar, StrategicAdvisor at Credgenics commented, “I am excited to be associated with Credgenics as an Advisor. With its focus on technology led innovation in debt management, Credgenics has established itself as a dynamic force. I am eager to contribute with my expertise to further accelerate its growth and influence in the industry. Together, we will navigate the rapidly evolving financial landscape and drive innovation that benefits end consumers, our clients and other industry stakeholders”.
Credgenics is the leading provider of Loan Collections and DebtResolution technology platforms 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 60 Billion in FY23. It handles 11 mn retail loan accounts 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%.