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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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Panel to be formed to address FDI issues in e-commerce: Goyal

25 Jun 2019 | 8:41 PM

New Delhi, Jun 25 (UNI) A committee under the Department for Promotion of Industry and Internal Trade (DPIIT) would be constituted to address grievances and provide necessary clarifications on issues related to FDI in e-Commerce, the Government has said.

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Sinitic partners with T9L to boost conversational commerce market

25 Jun 2019 | 8:18 PM

New Delhi, Jun 25 (UNI) In its endeavour to take on India’s conversational commerce market by disrupting artificial intelligence, machine learning and natural language processing, Sinitic, the market-leader in AI Customer Experience (AICX) solutions for multilingual contact centers enters the Indian market with T9L.

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Nanoclean AC filters: More than 15K units sold in 3 weeks of launch

Nanoclean AC filters: More than 15K units sold in 3 weeks of launch

25 Jun 2019 | 8:16 PM

New Delhi, June 25 (UNI) More than 15000 units of innovative Nanoclean AC filters, available at a price of Rs 399, have been sold within three weeks of its launch, a statement said here on Tuesday
Founded by a team of IIT Delhi Professors and Alumni, Nanoclean AC Filters turns an AC into an air purifier at Rs 399 only.

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Rupee ends tad higher by one paise against USD

Rupee ends tad higher by one paise against USD

25 Jun 2019 | 7:49 PM

Mumbai, Jun 25 (UNI) The Rupee on Tuesday rose further by one paise to 69.

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LOTS plans to open 12 more stores in next 3 yrs

LOTS plans to open 12 more stores in next 3 yrs

25 Jun 2019 | 7:35 PM

New Delhi, Jun 25 (UNI) LOTS Wholesale Solutions will invest more than Rs 1000 crore in first five years in the wholesale business category and also plans to open 12 more stores in next three years.

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