Rupaiya Exchange received the award for Best Peer-to-Peer Lending Platform in India in The Asian Banker Financial Peer-to-Peer Audit Awards Programme 2017. The awards ceremony was held in conjunction with the prestigious Asian Banker Future of Finance Summit 2017, the foremost annual meeting for decision makers in the financial services industry in the Asia-Pacific region, held at the Asian Civilisations Museum, Singapore.
The awards evaluation criteria were based on multiple dimensions including financial performance, risk management processes, technology, innovation, and strategy.
Rupaiya Exchange wants to increase financial inclusion in India, providing credit access to potential borrowers who find it difficult to meet traditional credit requirements. Launched in November 2015, Rupaiya Exchange is one of India's leading Peer-to-Peer (P2P) lending platforms. Beginning with just over 150 borrowers by the end of 2015, it has more than 10,000 registered borrowers as on date. It is a forward-looking approach to assessing borrowers, which is helping to shape the Indian traditional financial system, eliminating costs and achieving financial goals for ordinary people. The platform utilizes an alternative scoring mechanism to assess the creditworthiness and repayment behavior of potential borrowers. The company believes in their goal to broaden financial inclusiveness in India and has adopted innovative ways to assess credit-worthiness that is disrupting traditional processes. For instance, they employ non-traditional data such as social or profile checks including education to predict repayment behavior. This is the result of multiple data extractions, analysis techniques, and proprietary scoring mechanisms.
About Rupaiya Exchange:
Rupaiya Exchange is committed to innovative credit scoring to increase financial inclusivity throughout India. It is an innovative and bold platform in the Indian P2P industry. Rupaiya Exchange grew strongly in 2016 and saw a non-performing loan rate of 0.4%. It practices the best due diligence processes recommended and uses multiple data analytics. Rupaiya Exchange believes that the availability of alternate and multiple data points can drive their inclusion agenda, in looking for innovative ways of assessing credit worthiness in India.
For more details about the Company visit www.rupaiyaexchange.com.
For details on awards visit http://www.asianbankerawards.com/the-peer2peer-audit-awards/winners.php