Credgenics wins ‘Build forBharat SaaS Startup’ Award at SaaSBoomi Awards 2023 for Innovation in DebtCollections

New Delhi, 11th March 2024: Credgenics, a pioneering platform revolutionizing debt collections and resolutions, has been recognized as the winner of “Build for Bharat SaaS Startup'' Award at the esteemed SaaSBoomi Awards 2023 for its relentless pursuit of innovation and customer-centric approach. Credgenics is also adjudged the runners up in the “Breakout SaaS Startup” Award at SaasBoomi Awards. The SaasBoomi Awards program honours SaaS companies that are doing extraordinarily well in their spaces and that exemplify authenticity and integrity in nine categories.

Since its inception in 2018, SaasBoomi, the leading community of SaaS founders, has been at the forefront of shaping India’s SaaS industry. The awards announcement was made during the annual gathering of the community in Chennai, where over 1,500 SaaS founders, 100+ venture capitalists, and enterprise CXOs congregated to share strategic insights and celebrate the occasion.

Credgenics has established itself as a beacon of innovation in the financial technology sector, by providing a wide range of solutions that help lenders reimagine their debt collections processes and get future ready. With its focus on enabling a digital-first, data-driven and customer centric approach, Credgenics works with more than 100 leading Banks, NBFCs, Fintechs and Asset Reconstruction Companies. Credgenics’ industry-first tech oriented approach has redefined the way debt is collected and related disputes are resolved while ensuring higher efficiency and enhanced transparency.

Rishabh Goel, Co-Founder and CEO of Credgenics, expressed his gratitude for the recognition, stating, "We are honoured to receive this prestigious recognition at SaaSBoomi Awards 2023. At Credgenics, we are committed to keep pushing the boundaries of innovation and delivering unparalleled business value to our customers. This award is a worthy testament to the hard work and dedication of the entire Credgenics team. We are proud to be the flag bearer of digital transformation in debt collections as we make a positive impact in the financial services landscape."

Credgenics' innovative approach to debt collections has garnered widespread acclaim, earning the company a reputation as a trailblazer in the fintech space. By harnessing the power of technology and data analytics, Credgenics has transformed the debt recovery process, enabling financial institutions to achieve higher recovery rates while reducing operational costs and enhancing customer experience. The recognition from SaaSBoomi underscores Credgenics' position as a leader in the debt management space that continues to drive meaningful innovation and deliver tangible business value for its customers. With a commitment to excellence and a passion for technology led transformation, Credgenics continues to push the boundaries and shape the future of debt collections and resolution.

About Credgenics

Credgenics is the leading provider of Loan Collections and Debt Resolution 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%.