The emergence of public tech platforms is slowly transforming the landscape of financial services and lending in India. In this State of the Economy podcast, Hamsini Karthik speaks to Madhusudan Ekambaram, Co-Founder & CEO, KreditBee, on the future of public tech platforms.

Ekambaram highlighted in the podcast that the critical role this platform plays is in addressing the challenges of financial inclusion. In regions beyond major urban centers, these platforms act as a bridge by allowing lenders to assess creditworthiness using a wide range of alternative data points. This approach is instrumental in serving the middle class and individuals lacking robust credit histories. Unlike a traditional lending platform, it isn’t a direct lender itself but rather a catalyst that empowers lenders to make informed credit decisions. Public tech platforms tap into a comprehensive database of customer data, including credit history, transaction records, and property details.

The platform’s impact on customer engagement and underwriting is profound. By providing access to real-time data, it streamlines the decision-making process, reducing turnaround times and enhancing the accuracy of risk assessment. This is particularly pertinent in scenarios like evaluating secured loans, where property details and other critical information can be promptly accessed.

While the concept is still in its early stages, Ekambaram emphasises that its potential for positive change is significant. Just as the adoption of digital banking services, Aadhaar, and UPI has transformed the sector over the years, these platforms offer a promising pathway to further financial inclusion, improved underwriting, and better customer experiences. As the platform continues to evolve and more players integrate with it, it holds the promise of democratising access to credit and ushering in a new era of collaborative financial innovation.

Listen to the podcast now!

(Host: Hamsini Karthik, Producers: Anjana PV, Jayapriyanka J)


About the State of the Economy podcast

India’s economy has been hailed as a bright spot amid the general gloom that seems to have enveloped the rest of the world. But several sectors continue to stutter even as others seem set to fire on all cylinders. To help you make sense of the bundle of contradictions that the country is, businessline brings you podcasts with experts ranging from finance and marketing to technology and start-ups.