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Business Economy


i-lend.in signs pact with Cove Venture

i-lend.in signs pact with Cove Venture

Hyderabad, Nov 30 (UNI) City-based i-lend.in, one of the best performing company in the nascent Peer 2 Peer (P2P)/ Alternate Finance and UK-based Cove Venture entered into a strategic agreement. Under the strategic agreement, both firms will apply Artificial Intelligence, Deep and Machine Learning algorithms in the Indian Alternate Finance & P2P Lending industry to ensure more people in urban and rural India get access to credit at moderate interest. The Indian Alternate Finance and P2P Lending industry expected to grow over USD 20 Billion business in the next few years and the sector is experiencing rapid growth presently. The models will help improve the predictability by analyzing online, social and financial behaviour thereby enabling I-lend with significant accuracy. This predictability will help in pricing loans, opening up new segments and deliver better financial performance. Getting exclusive access to i-lend data helps Cove Ventures build cutting edge solutions across the fast growing finance eco-system in India. “This tie up will help building predictive, qualitative credit and e-KYC models along with our existing algorithms. It also enables us to better address financial inclusion in the urban space and bring a higher degree of transparency into loaning and lending operations and rationalise high interest rates being charged, i-lend Founder Shankar Vaddadyi told media here today. Cove Venture Founder and CEO Madhava Turumellae said “This partnership will improve our footprint in India and help us get excellent traction in the fast growing Indian financial space both from a conventional and new wave companies like I-lend. Exclusivity is critical because of the nature of the technologies and data involved and confident that these models will give a flip to the demonetization,” he added. UNI VV CS 1717

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T-Works launches IP facilitation cell for startups, SMEs and innovators

13 Dec 2019 | 10:56 PM

Hyderabad, Dec 13 (UNI) T-Works launched its in-house Intellectual Property Facilitation Cell (IPFC) on Friday to enable innovators secure their inventions by drafting and filing patent applications at a highly subsidised fee.

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India won't kneel, won't be silent: Kerala CM

13 Dec 2019 | 10:51 PM

Thiruvananthapuram, Dec 13 (UNI) Dissenting voices are being silenced in the country, Chief Minister Pinarayi Vijayan said on the occasion of the closing ceremony of the 24th International Film Festival of Kerala (IFFK), here on Friday.

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Defence startups workshop in Hyd from Dec 16

13 Dec 2019 | 10:11 PM

Hyderabad, Dec 13 (UNI) The US Consulate General in Hyderabad and the Nexus Startup Hub were hosting a Defense Startups Workshop at T-Hub here from December 16-17, a statement said on Friday.

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Exports declines marginally by 0 34 pc due both domestic and global factors in Nov: FIEO President

13 Dec 2019 | 7:41 PM

Hyderabad, Dec 13 (UNI) In November, exports declined marginally by 0.

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Prohibition on 'gift route' is a step forward to check e-commerce business: CAIT

13 Dec 2019 | 7:06 PM

New Delhi, Dec 13 (UNI) Prohibition of goods being imported into India from Chinese e-commerce portals via "gift route" by the Directorate General of Foreign Trade ( DGFT) is a step forward in curbing unethical and unfair business practices being adopted by the e-commerce companies.

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