Clix Capital aims to become one of India’s most efficient players in the digital lending space by focussing more on artificial intelligence (AI) and data analytics.
The Gurugram-based start-up has expanded from four to more than 15 locations in the last three years, grown its assets multi-fold to Rs 5,000 crore and reached three million customers.
The firm said its advanced capability in AI and data analytics domain has helped it to achieve sustainable growth and kept its overall NPAs within the “targeted comfort range”.“People in India don’t get to avail financial services as they aren’t qualified by the tradition means.
AI and data analytics helps us to eliminate risk, get better prediction about customers’ ability to pay back,” said Katerina Folkman, head of AI and analytics, adding the company deploys a set of in-house developed mechanism while facilitating loan.
The fintech company is working on various capabilities, including video KYC, digital signature, e-mandate, document fraud detection, digital document generation, penny dropping and digi-locker. Some innovations such as alternate data analyser and Clix’s AI-enabled credit decision engine Delphi are already live.
It had recently launched AI-enabled Bot ‘Maya’ that claims to help customers avail instant loans, also checking their eligibility and credit score. The virtual assistant, Maya is available on Clix platforms and WhatsApp.
“Maya enables Clix to service a billion Indians for all credit needs in the most simple and convenient way possible. Maya is multi-lingual and will eventually speak the language of every Indian, making loans available to them whenever they need,” said Bhavesh Gupta, CEO, Clix Capital. Clix operates in a wide loan ticket bracket starting from Rs 25,000 and going up to Rs 5 crore, thus cater to both fintech and NBFC customers.
“There is a significant opportunity to bridge the gap between fintech platforms and NBFCs. Fintech firms are source for new customers but are unable to fulfil their financing needs. We aim to build platforms that can also source customers but also provide financing “on demand”.