“Rubique to be­come the largest on­line mar­ket­place for loans in the near fu­ture”

In an one on one with PC Quest Manav Jeet - MD & CEO, Rubique shares the Ser­vices be­ing of­fered by Rubique

PCQuest - - CONTENTS - – Jy­oti Bha­gat jy­otib@cy­ber­me­dia.co.in

What is new in Rubique and please give us up­dates on whats go­ing on in Rubique?

Rubique has been mak­ing con­sis­tent tech­no­log­i­cal in­ter­ven­tions to bring a dras­tic trans­for­ma­tion in the tra­di­tional lend­ing land­scape in In­dia and is help­ing a large num­ber of cus­tomers in ful­fill­ing their fi­nan­cial re­quire­ments. Its new and unique On­line PLUS model fo­cuses on ev­ery­thing, from sourc­ing to dis­burse­ment.Rubique en­ables users to get their loan ap­pli­ca­tions pro­cessed faster by en­sur­ing smarter in­te­gra­tion of its on­line model, busi­ness as­so­ci­ates, and lend­ing gate­way to cre­ate a match­mak­ing al­go­rithm in sync with the Fi­nan­cial In­sti­tu­tions’ lend­ing sys­tems. The fo­cus, at Rubique, is on fa­cil­i­tat­ing dis­burse­ment rather than mere lead gen­er­a­tion. This mul­ti­chan­nel dis­tri­bu­tion also al­lows us to tap ev­ery con­sumer seg­ment, be it the dig­i­tal­savvy mo­bile-first users or tra­di­tional cus­tomers.

With tech­nol­ogy at the core of Rubique’s vi­sion, our On­line PLUS ap­proach comes with pa­per­less­fo­cused fea­tures that sig­nif­i­cantly re­duce the loan ap­proval and pro­cess­ing times through e-KYC, rank­ing

anal­y­sis, and real-time sta­tus track­ing. Ad­di­tion­ally, we also have Rubot, an AI and de­ci­sion en­gine-pow­ered bot aimed at eas­ing the trans­ac­tion ex­pe­ri­ence, and SPOT, an in­ter­nal data plat­form byRu­bique that can bring tech- driven par­a­digm shifts in tra­di­tional lend­ing prac­tices.

What are the unique fi­nan­cial ser­vices you of­fer to cus­tomers?

Rubique opens up a bril­liant one-stop ad­van­tage of mak­ing in­formed de­ci­sions, in­creas­ing the pre­dictabil­ity in terms of credit ap­proval, en­sur­ing has­sle-free sup­port without any am­bi­gu­ity, and rolling out an elab­o­rate list of fi­nan­cial prod­ucts for con­sumers and SMEs. It en­ables users to ac­cess loan prod­ucts ex­pe­di­tiously through tools such as e-KYC and ex­pe­dites the process of in-prin­ci­ple ap­proval of credit card ap­pli­ca­tions. The plat­form fur­ther en­sures a has­sle-free and seam­less lend­ing process, thanks to its ad­vanced in­te­gra­tion with lend­ing sys­tems of mul­ti­ple fi­nan­cial in­sti­tu­tions.

On the other hand, the new ap­proach guides fi­nan­cial in­sti­tu­tions to­wards qual­i­fied leads, en­sures faster turn­around time with bet­ter con­ver­sion rates, prom­ises low cost of ac­qui­si­tion, and al­lows them to pro­vide fi­nan­cial ac­cess to cus­tomers who are new to bank­ing and credit.

Please ex­plain SPOT and TAB tech plat­forms of Rubique.

Both SPOT and TAB fea­ture by Rubique are bring­ing tech- driven par­a­digm shifts in tra­di­tional prac­tices. SPOT is an in­ter­nal data plat­form by Rubique that cov­ers the en­tire con­sumer jour­ney from lead gen­er­a­tion to dis­burse­ment for all types of loans and credit cards. It leads the en­tire man­age­ment sys­tem, fo­cuses on the in­te­gra­tions, CRM+Mar­ket­ing, Data & AI based scor­ing al­go­rithm, Data an­a­lyt­ics, cross/up­sell en­gine and pay­ment man­age­ment. By con­sol­i­dat­ing all cus­tomer and part­ner in­for­ma­tion onto a sin­gle plat­form. SPOT helps in au­tomat­ing var­i­ous work­flows and also al­lows users to gain deeper in­sights on data and key busi­ness met­rics.

Mean­while, Rubique’s Tech As­sisted Busi­ness ( TAB) so­lu­tion cre­ated es­pe­cially for the MSMEs brings au­to­ma­tion into the small and medium busi­ness fi­nance by al­low­ing them to up­load their doc­u­ments and gen­er­ate their credit memos. Com­pris­ing a wide prod­uct port­fo­lio, it cov­ers low to high-risk cap­i­tal re­quire­ment through 5 broad-level prod­uct cat­e­gories of 2 se­cured – LAP, MEL – and 3 un­se­cured – Mi­cro Busi­ness Loan (>5 lac), Un­se­cured Busi­ness Loan, Com­mer­cial Ve­hi­cle Fi­nance – loans. The so­lu­tion also in­cludes ad­vanced tech­no­log­i­cal fea­tures like IRIS scan for Aad­haar au­then­ti­ca­tion and in­te­grates with the fi­nan­cial in­sti­tu­tions, en­abling the credit un­der­writer to take quick de­ci­sions through credit memo gen­er­a­tion & re­duces the pro­cess­ing time fur­ther.

How many part­ners you have?

Rubique has tied up with 80+ fi­nan­cial in­sti­tu­tions for 230+ prod­ucts.

Are you as­so­ci­ated with gov­ern­ment in any project?

Yes, we have signed and MoU with Na­tional Small In­dus­tries Cor­po­ra­tion Ltd (NSIC), a Mini Ratna En­ter­prise of Min­istry of Mi­cro, Small and Medium En­ter­prises, Gov­ern­ment of In­dia, for easy fa­cil­i­ta­tion of credit from mi­cro, medium and small en­ter­prises. Rubique is creat­ing an in­ter­face which will ease credit fa­cil­i­ta­tion for MSMEs by al­low­ing quicker de­ci­sion mak­ing and eval­u­a­tion. Re­cently, we have also en­tered into an agree­ment with with the Andhra Pradesh state gov­ern­ment to be a part of its Fin­tech Val­ley Ini­tia­tive. We are for­ay­ing into the ge­og­ra­phy with­Ru­bique’s first branch in the city of Vizag. As part of the al­liance, Rubique will not only col­lab­o­rate with the na­tion­al­ized banks, but will also fo­cus on mak­ing an ad­e­quate and skilled ta­lent base avail­able for de­ploy­ment in the sec­tor by ty­ing up with in­sti­tu­tions to bring in aca­demic cour­ses re­lated to fin­tech and blockchain.

How many cities did you reach out?

We are con­stantly striv­ing to be­come the largest on­line mar­ket­place for loans in the near fu­ture. Cur­rently, we are present in Mum­bai, Delhi, Kolkata, Pune, Ban­ga­lore & Hy­der­abad. But we have fa­cil­i­tated loans & cards across 27 cities. We are plan­ning to ex­pand fur­ther & reach 100 cities.

Manav Jeet, MD & CEO, Rubique

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