Pepper Advantage, a global leader in credit intelligence, credit management, and credit investment, has built a cutting-edge Tech Hub in Pune, India. This is a big step forward in the company’s commitment to promoting creativity and leveraging AI to drive technology development activities. With India’s fintech sector expected to reach USD 190 billion (INR 15.8 lakh crores) by 2030, increasing at a rate of more than 35% per year, Pepper Advantage has opted to base its technology development hub in this area.
Pepper Advantage is restructuring its worldwide technology development by centralising operations following the acquisition of Loanguard, the AI-driven credit risk management platform formerly known as Rieom.ai. The Tech Hub will accelerate the development of new credit technology and analytics, notably for risk assessments during loan origination and servicing. The cutting-edge technology and algorithms of Pepper Advantage provide lenders with a unified platform for accessing a comprehensive portfolio of solutions that facilitate data-driven decisions. Its data and analytics services help to reduce the risks connected with fake papers and financial frauds throughout the loan underwriting process significantly.
The Tech Hub is built around a dynamic staff of 50 researchers, programmers, and analysts. This strategic hub acts as the nerve centre for Pepper Advantage‘s technology development and will advance solutions that serve clients in India, Indonesia, the Middle East, and other Southeast Asian and European markets.
Commenting on the launch of the Tech Hub, Fraser Gemmell, Chief Executive Officer, Pepper Advantage, said, “Our growth in 2023 has been driven by the value customers place on our technological innovation and data-driven solutions. Our transformative journey gains momentum with the launch of the Tech Hub, which demonstrates our commitment both to developing new credit technologies and making substantial contributions to India’s thriving fintech ecosystem.”
Reflecting on the launch, Mukund Kulkarni, CEO, Pepper Advantage India, said, “We’re delighted Pepper Advantage’s Tech Hub will be based in India. Since the acquisition of Loanguard, we have grown our customer base in India by 40%, while AUM has grown over 200%. Fuelled by technology advances and the rapid growth of our fintech sector, India will soon become a global hub for technology and artificial intelligence, not just for Pepper Advantage but also for the world.”
