Decentro acquired Mumbai-based Neowise in July 2023 to complement its fintech & lending infrastructure. The upgraded Neowise CaaS solution helps ensure a 40% increase in collections efficiency for BFSI and improves connectivity with delinquent customers by 25%.
Bangalore – Neowise unveils a new debt collection platform with features aimed at lenders to streamline their operations & optimize their processes. Currently operating with around ₹300 crore of AUM in debt recovery, the company’s customer base has increased by 250% in the past 1 year alone.
Lenders and collection agencies face numerous challenges today, especially with the increased focus on consumer rights and ethical practices. These include incomplete customer data, unstructured processes, disconnected systems, lack of advanced tools, imbalanced call frequency, insufficient agent training, and targeting individuals who have already paid. These issues significantly complicate debt collection efforts.
With total digital lending disbursement expected to surpass INR47.4 lakh crore by 2026, the shift towards digital debt collection is crucial. Through Decentro’s compliant Payment Aggregator stack, Neowise gains real-time access to payment data, enabling smoother transactions and a more transparent collections experience.
- Pre-integrated e-NACH and BBPS APIs streamline recurring payments via multiple possible channels, minimising manual intervention and boosting efficiency.
- Neowise leverages Decentro’s enriched KYC and alternate data APIs to get a deep understanding of the borrower persona and profile. This empowers collection teams to operate with greater precision and personalise key stages of the process.
- Neowise helps feed the collection data into underwriting models, providing valuable insights that lenders can use to refine their models and make informed lending decisions. This creates a seamless flow of information between collections and underwriting, ultimately leading to better outcomes.
These combined strengths are reflected in Neowise’s impressive YoY revenue and customer growth of 436% and 250%, respectively.
“Neowise’s innovative technology and advanced analytics platform are revolutionising the debt collection landscape,” says 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 enabling lenders to remain compliant as per 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,” says Rohit Taneja, Co-Founder and CEO of Decentro. “With Neowise’s comprehensive debt collection system integrated with our payment aggregator & API banking platform, we are providing lenders with unparalleled tools and insights to manage their collections efficiently. This synergy will drive greater financial inclusion and operational excellence across the BFSI industry.”
Beyond improved efficiency, enhanced visibility, and cost reduction, Neowise offers a multitude of benefits for lenders and collection agencies, such as a data-driven feet-on-street app with geo-tracking and performance-related analytics that enable more effective targeting and higher recovery rates.
“I am happy to express our appreciation for Neowise. Their innovative debt recovery solutions have been invaluable to our operations. Neowise’s tech-enabled approach and actionable insights have helped us navigate deeply delinquent loan portfolios and ensured our practices align with industry standards and regulations. They always ensure our collection targets are met, and their ability to provide timely support has been commendable. They are a truly trusted partner in our debt recovery journey.” – Vaishnavi Sharma – Senior Manager – Digital Collections & Strategy, Protium Finance
