Neowise launches enhanced debt collection systems; Achieves 436% YoY Growth

Decentro

Neowise, a debt recollection platform acquired by Decentro in 2023, has launched an advanced debt collection platform designed to enhance lenders’ operations and optimize debt recovery processes. This innovation comes on the heels of Neowise’s remarkable growth, reporting a 436% year-over-year revenue increase and a 250% surge in its customer base. The company now manages approximately ₹300 crore in assets under management (AUM) in debt recovery.

Lenders and collection agencies face numerous hurdles, such as incomplete customer data, unstructured processes, disconnected systems, lack of advanced tools, imbalanced call frequency, insufficient agent training, and inadvertently targeting individuals who have already paid. These challenges, compounded by a greater emphasis on consumer rights and ethical practices, make debt collection increasingly complex.

As digital lending disbursements are projected to exceed INR 47.4 lakh crore by 2026, the shift towards digital debt collection is essential. Neowise’s new platform, integrated with Decentro’s compliant Payment Aggregator stack, provides real-time payment data access for smoother transactions and a more transparent collections experience. Pre-configured e-NACH and BBPS APIs facilitate recurring payments through multiple channels, minimizing manual intervention and increasing efficiency.

Neowise also leverages Decentro’s enriched KYC and alternate data APIs to gain deep insights into borrower personas. This enables collection teams to operate with greater precision, personalizing key stages of the collection process. Additionally, by incorporating collection data into underwriting models, Neowise offers valuable insights that help lenders refine their models and make informed lending decisions, ensuring a seamless information flow between collections and underwriting.

Also read: Decentro upgrades its DigiLocker & KYC Stack

“Neowise’s innovative technology and advanced analytics platform are revolutionizing the debt collection landscape,” said Rohit Ramachandran, Co-Founder and CEO of Neowise. “By providing lenders with cutting-edge tools and real-time insights, we empower them to streamline their collections processes by 10X. This approach not only enhances operational efficiency but also promotes broader financial inclusion while ensuring compliance with an ever-evolving regulatory landscape.”

“Neowise’s data-driven approach and feature-rich platform are a powerful addition to the Decentro suite of financial technology infrastructure. By integrating Neowise’s comprehensive debt collection system with our payment aggregator and API banking platform, we offer lenders unparalleled tools and insights to manage their collections efficiently. This synergy will drive greater financial inclusion and operational excellence across the BFSI industry”, he added

“We’ve been working with the Neowise team to support our debt recovery practice, and the experience has been great! Their platform and tech-enabled approach help them to be number-driven and strategic, which helps us drive solutions to help us improve collections efficiency month on month.

Furthermore we are able to collaborate well on strategy and find them to be transparent and effective and flexible to our requirements, said Sharad Nandode – head of Customer Relations (acquisitions, retention and collections), FatakPay.

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