Monday, Nov 28 2022 | Time 13:26 Hrs(IST)
image
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

More News

Switch Mobility partners with JSW Steel

28 Nov 2022 | 1:12 PM

Mumbai, Nov 28 (UNI) Switch Mobility Ltd (Switch), the next-generation carbon neutral electric bus and light commercial vehicle company, said it has partnered with JSW to introduce electric buses for employee transportation in India.

see more..

Honda Cars India signs agreement with MSTI

28 Nov 2022 | 1:09 PM

Mumbai, Nov 28 (UNI) Car major Honda Cars India Ltd (HCIL) on Monday said it has signed an agreement with Maruti Suzuki Toyotsu India Pvt Ltd (MSTI) to offer its customers an end-to-end solution for scrapping their End of Life Vehicles (ELVs).

see more..

ELVs scrap : Honda Cars India signs agreement with MSTI

28 Nov 2022 | 12:46 PM

Hyderabad/ Delhi Nov 28 (UNI) Honda Cars India Limited (HCIL), a leading manufacturer of premium cars in India, on Monday announced that it has signed an agreement with Maruti Suzuki Toyotsu India Private Limited (MSTI) to offer its customers an end-to-end solution for scrapping their End of Life Vehicles (ELVs).

see more..

Pluckk clocks USD 5 mn record revenue

28 Nov 2022 | 10:40 AM

New Delhi, Nov 28 (UNI) Pluckk, a fresh produce food-tech venture, owned by Fruveggie Tech Private Limited, on Monday said that it has clocked a record revenue of USD 5 million in a short span of time since its launch in January 2022.

see more..
Revenues & financial resources increased in self-ruling Telangana state: CM

Revenues & financial resources increased in self-ruling Telangana state: CM

27 Nov 2022 | 9:00 PM

Hyderabad, Nov 27 (UNI) Though the revenue and financial resources increased in Self-ruling Telangana state, the government officials should think creative every day to bring more qualitative progress in the lives of people, said Telangana Chief Minister K.Chandrashekhar Rao (KCR) here on Sunday evening.

see more..
image