The Times of India - Hyper-personalisation is the key to transforming the debt recovery ecosystem
Systematic lending, borrowing, and debt recovery have been a part of the Indian financial system for centuries. From a stringent debt system under the reign of Mauryas to a modern-day regulated banking system, we have come a long way.
Khaleej Times - India’s fintech unicorn Yubi makes UAE debut with spocto
For spocto, a pioneer in AI-enabled recovery infrastructure, the UAE debut will provide a strategic springboard to expand its operations globally as part of the India-UAE Start-Up Corridor. The initiative was launched in May 2022 by the DIFC and FICCI Leads, a business incubator of FICCI grow the startup ecosystem of India and the UAE.
Forbesindia - How Spocto is making collecting on loans quicker and more efficient
The best way to lose a customer is to give the account to one’s collection department. This is Sumeet Srivastava’s firm belief. It is also what led to his founding Spocto, an artificial intelligence-enabled platform that allows financial institutions to assess the risk profiles of their customers.
Sample this: When a customer takes a home loan, a credit and profile check is done.
Inc42 - The Changing Face of Digital Lending: How Fintechs Have Revolutionized Debt Collections in India
Increase in hassle-free and flexible microcredit and short-term interest-free payment options have led to a rise in lending which has also boosted the collections sector. Technological improvements have helped generate massive amounts of data, making it easier to understand borrower behavior better, thereby enhancing collection.
Bizz Buzz - How Collect Tech Platform spocto Helping Banks Recover Loans Without Using Muscle
“In times of rising bad loans and haunted debt collection methods, collect tech platform Spocto is the first player to introduce AI-based contactless collections, assuring collection efficiencies for clients with reduced human dependency, lower bounce rates, and increased self-pay by deploying big data analytics and Machine learning (ML),” says Sumeet Srivastava, founder and CEO of digital debt recovery platform spocto, a Yubi Company.
BW Businessworld - spocto Processes Loans Worth $25 Bn for Financial Institutions in FY22
spocto, a Yubi company, recently reported that the collect tech platform processed loans worth USD 25 Billion through the collection of 35 million loan accounts in FY22. The platform, which currently leads the Indian debt collection segment with a 40 per cent market share, is projected to process 80 million loans worth USD 52 billion in the current FY.
Zawya - Leading global risk mitigation platform spocto establishes presence in MENA
spocto, a Yubi company, has launched in the Middle East and North Africa (MENA) with regional headquarters located in Dubai International Financial Centre (DIFC). As a leading risk mitigation platform, spocto is establishing a foothold in the region, with the UAE serving as a springboard for its global ambitions.
Gulf News - Indian fintech spocto wants to make it easier for UAE banks to lend
An Indian fintech that specialises in credit risk mitigation is ready to help you and the bank meet at the halfway point. “If you look at platforms such as BNPLs, which are mostly small loans, the average loan period in the UAE is about 90 days,” said Sumeet Srivastava, founder and CEO of spocto. “However, for large loans such as to a small business, personal loans, mortgages and credit cards, product-specific adjustments are required.
Analytics Steps - In conversation with Mr. Sumeet Srivastava, Founder and CEO of Spocto Solutions
A new emerging method of debt management with the assistance of digital collections can be understood as the utilization of modern technology like Artificial Intelligence and Machine Learning for the creation of effective customer communication channels.
Krishi Jagran - Spocto’s Kisan Pay BOT reduces farm loan NPAs and eases collections
Spocto Solutions Pvt Ltd, a collectech start-up & 1st to introduce contactless collections for banks and NBFCs in India covering all kinds of loans, enters the agricultural sector with its Kisan Pay BOT, a one-stop solution for the banks and farmers, where banks do not have to worry about farmer loan payment under Kisan Credit Cards.
"We have been associated with Spocto for over three years. Their services have greatly complemented our product offerings. Their digital collections platform, SmartCollect, has enabled us to serve our customers better and at a lower cost."