RupeeRedee — Building platform to ease lending for all


We are creating a ‘Product Ladder’ which will help customers move up the credit curve. We should continue to offer products at various price points based on customer profiles and histories thereby making us a – ‘Lender for all’, says Jitin Bhasin, Managing Director, RupeeRedee in conversation with Anupama Mehra of Eletsonline.

Q. How technology is changing the financial sector worldwide?

Emerging technologies have had a far-reaching impact on the financial services industry through disruptive means to cater to growing customer expectations of personalisation, convenience, and accessibility.

Adoption of technology solutions has positively influenced almost all components of the supply chain across the bouquet of financial products- payments, lending, savings, and insurance.

Today financial services organisations, through the use of advanced technologies like Artificial Intelligence and cloud computing are riding the wave of data explosion supported by high penetration of internet and mobile penetration, thereby offering best in class products and services. Such developments are extremely positive for all stakeholders in the value chain.

Q. Tell us about your products and services. And how challenging it is to serve the Indian public?

We are in the business of facilitating unsecured personal loans with flexible repayment options to suit the daily needs of customers. We believe that credit penetration in India is still restricted to a selected set of people, thereby offering a large under-served population that is fully banked but under-penetrated when it comes to availing credit.

We along with our partner lending institutions have built flexible products and assessment methodologies beyond the conventional underwriting practices with the use of alternate data including social, behavioral, transactional data points of a customer in a completely consent-based architecture.

India has the best in class digital infrastructure for us to deliver such loan products and we have seen tremendous response to our proposition.

Q. How do you see the future of digital lending in India?

India is leading way on Fintech adoption amongst the emerging economies. With a relatively low household debt to Gross Domestic Products (GDP) ratio at 11 percent,  there is still a lot of room for furthering penetration of formal credit. The Fintech players are digging deep for a long and sustainable run.

Q. Who are your major target audiences and clients?

We intend to offer a suite of loan products to meet the needs of various customer segments including salaried, self-employed and first time borrowers. Most lenders in India only focus on serving customers with strong credit histories, thus leaving large masses underserved which RupeeRedee intends to cater to.

Q. What new innovations are you planning to implement in the next five years?

RupeeRedee is creating a ‘Product Ladder’ which will help customers move up the credit curve. We should continue to offer products at various price points based on customer profiles and histories thereby making us as a – ‘Lender for all’.

We are also actively building relationships with lending institutions and distribution partners – both digital and point of sale based to further expand our offering.

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