Chennai-based M2P Fintech, formerly known as Yap, on Thursday announced the acquisition of Origa.ai – a Bengaluru-based Software as a service (SaaS) technology platform that allows both fintech and traditional lenders to manage their collection operations and repayment analytics through intuitive analytics.
Last week, M2P Fintech acquired Chennai-based credit card management platform Wizi for an undisclosed value. The company said that the current acquisition aligns with M2P’s vision to provide a comprehensive fintech ecosystem.
“India is entering its golden decade for the consumption credit business, with more people joining the workforce, thereby becoming eligible to avail credit, efficient collection and importantly real time data on collection becomes extremely important to achieve scale by managing risk efficiently for Banks and fintech,” M2P Fintech co-founder Muthukumar A said in a statement.
“The integration of Origa.ai into M2P Fintech’s platform offering sits perfectly with our vision of co-creating products by leveraging our API infrastructure,” he added.
M2P is an Application Programming Interface (API) infrastructure company that helps businesses to connect and roll out their own branded products. It works with banks and financial institutions as product providers offering end-to-end programme management services over a bundle of APIs that covers bank accounts, term deposits and a wide gamut of payments products including debit, credit, prepaid, Travelcard, QR, UPI, NETC toll payments.
“Our mission is to modernise collections, which allows fintech and traditional lenders to manage their collections operations and repayment analytics. Joining M2P Fintech provides us a tremendous opportunity to accelerate our vision,” Venkatesh Chari, founder and CEO of Origa.ai was quoted in the statement.
Origa.ai’s platform leverages proprietary technology and data science insights to optimise and accelerate collections. The company provides an AI algorithm-driven debt management platform and data-driven solutions for personalised debt management services. The platform predicts delinquencies and automatically executes personalised follow-up actions with customers through a multilingual chatbot.