Pepper Advantage boosts India portfolio and extends AI/ML services after Rieom.ai purchase

Mumbai :  Pepper Advantage, a market leader in the fields of credit management, risk management, and data analytics, has expanded its offerings with the purchase of Rieom.ai, a cutting-edge artificial intelligence platform that was released in May of this year. Pepper Advantage is well-positioned to continue its rapid expansion thanks to its recent purchase of an AI-powered credit management software platform that will allow the company to provide a predictive, pre-payment credit approval tool.

With this purchase, Pepper Advantage is better able to spread its AI-powered credit management strategy across Southeast Asia and the Middle East. Australian, British, European, South Korean, Japanese, and South-East Asian markets are only some of the more developed regions where the Pepper Group operates. In order to achieve the next level of development for Indian enterprises and provide Indians the means to improve their financial well-being, Pepper Advantage will combine global and local expertise with its experience and data-driven approach to collections and credit management.

The business has developed key nodes in many major Indian cities, including Mumbai, Chennai, Delhi, Bangalore, and Ahmedabad, with more nodes planned for Kolkata, Lucknow, and Kochi. Financial technology (Fintech), microfinance institutions (MFIs), small and medium-sized finance enterprises (SMEs), cooperative banks (co-ops), insurance companies, and government institutions (GIs) are all potential new customers in India. More than 40% of Pepper Advantage’s current customer portfolio comes from the retail and micro, small, and medium enterprise (MSME) sectors. Micro, Small, and Medium-Sized Enterprises (MSME) are a dynamic and thriving part of the Indian economy, and they are aggressively using Fintech to boost their productivity and sales.

Mr. Mukund Kulkarni, CEO of Pepper Advantage India, recently remarked on the fast expansion, saying, “The gross Non-Performing Assets inside the Indian banking sector are now estimated at over USD 85 billion (INR 7 Lakh Crore). When it comes to financial services, Pepper Advantage is in a prime position to expand since we are one of the few companies that can meet the demands of both traditional banks and alternative lenders while also providing complete, end-to-end solutions that considerably reduce risk and improve credit evaluations. Over the last year, we have added 17 major financial services companies in India to our expanding portfolio thanks to our offering, and we are on schedule to acquire another 5 to 6 clients before the end of the fiscal year (March 2024). For lenders, this achievement highlights the significance of credit management and risk assessment services.

With more than 200 million loan applications processed annually from banks, NBFCs, and microfinance institutions, the credit management sector in India has seen a surge in demand for outsourced services such as KYC verification, credit score checks, collection activities, and legal support in NPA management. In this thriving industry, Pepper Advantage has been a one-stop-shop for credit management and collection, master and back-up servicing, investment procedures, and transaction consulting services. Since last year, the firm’s assets under management (AUM) have increased by a staggering 200% thanks to the use of cutting-edge technology and the delivery of streamlined services.

Pepper Advantage’s key differentiator lies in its state-of-the-art technology that integrates advanced artificial intelligence and machine learning algorithms. This technology empowers lenders to make data-driven decisions and significantly reduces the risk associated with falsified documents by helping to identify potential frauds during the loan underwriting process. Pepper Advantage also supports financial institutions in the proper execution and usage of this technology at every stage of the loan process and provides a 360 degree end-to-end solution in mitigating the variety of fraud risks. As of now, there is no other company in India that can provide such a diverse range of solutions, all under one roof.