Fintech firm Rubique registers 48.8 percent YoY growth

Rubique, a fintech company on Tuesday announced the disbursement of loans worth Rs. 488 crore in the last four months, marking a 48.8 percent growth, in comparison to FY 2016-17, while resulting in a substantial rise in revenue as well.

"The overwhelmingly positive response to our products has been the result of a combination of factors such as the adoption of latest technology and increasingly digitised processes. The sizeable SME sector in India continues to be a major contributor to our growth, occupying 60 percent of the loans disbursed by Rubique," said Manav Jeet, MD and CEO - Rubique.

"We are witnessing ecosystem too gearing up for the change and increasingly financial institutions are working with us for technology integrations for seamless process. We are constantly innovating our approach to facilitate loans to consumers in a quick, hassle-free, convenient, and transparent manner. Our aim for the immediate future is to disburse Rs. 2000 crores of loans by 2018 which does not seem to be so distant milestone now," he added.

Rubique's unique Online PLUS model enables users to get their loan applications processed faster through PAN verification, Aadhaar based e-KYC, credit bureau integration, banking analysis, enhanced logic in proprietary matchmaking algorithm and addition of new data science methodologies.

They can also receive online in-principle approval on various products along with real time status tracking. The fulfillment is handled by Rubique's tech-enabled business associates.

Rubot, an AI and decision engine powered bot by Rubique is aimed at easing transaction experience by making use of interactive messaging interface, customised chats basis past interactions in the form of a live chat.

Rubique's lending gateway provides unified financial interface which allows our partners to complete their application and check exact offers presented through our match making logic. Rubique already has 34 strategy partners across various industries using our lending gateway to provide services such as cards, medical loans, education loans, wedding loans etc. to their customers.

These advanced technology products have enabled the platform to disburse around USD 270 million crore worth of loans, 43000 credit cards and realised USD 3.8 million revenue till date. Rubique platform has over 130 credit policy algorithms out of 215 products available across.