Organized lending is expected to soon be an $18B+ industry in India. Today, large parts of it are driven by local economies, unorganized money lending, high-cost debt, sporadic access to credit at unfavorable terms for the underserved and underbanked, and significant issues in collections. At the core of it all is a lack of data. Amit Das explains how accessing alternate data, real-time risk monitoring and data access solutions, and smart analytics is changing the lending landscape in India.
India is experience a large fintech wave, which includes investments in real-time know-your-customer solutions, instant underwriting solutions, digital lending, digital collections, continuous risk monitoring solutions, and advancements in anti-money-laundering solutions. While many of these investments are years from generating significant business returns, their impact on business process TATs, cost of underwriting, and the ability to reach out to larger masses is already visible and profound.
Amit Das is the cofounder and CEO of Think Analytics India, where he has conceptualized many fintech enabler analytics solutions, including Algo360, an alternate data solution. Amit fell in love with analytics while working at Tata Consultancy Services. Over his career, he has worked for a number of successful companies, including Inductis (acquired by ExL Services) and Diamond Consultants (acquired by PwC LLP USA). Amit also led analytics delivery for PwC USA and was an EVP at 3i Infotech limited, where he set up analytics as a capability and built smarter software products for banking and financial services. Amit’s love for data led him to build the foundations for an emerging market consumer dataset through Vito, a cutting-edge alternate data solution for the Indian market that brings down the cost of underwriting by over 40%. Amit holds a master’s degree in management from the Indian institute of Management, Bangalore, and an undergraduate degree in economics from the University of Delhi.
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