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NEW DELHI, Sept. 18, 2023 /PRNewswire/ — Credgenics, the leading provider of advanced loan collections and debt recovery technology solutions for Banks, NBFCs, ARCs, and Digital Lending firms worldwide, proudly announces the appointment of Mr. M. V. Nair, the former Chairman of TransUnion CIBIL and former Chairman and MD of Union Bank of India, as a distinguished strategic advisor to the company. This move underscores Credgenics’ commitment to harnessing exceptional industry expertise for excellence and fortifying its position as a leader in the evolving financial technology landscape.
Mr. M. V. Nair’s illustrious career spanning over three decades has solidified his reputation as one of the banking industry’s foremost leaders. His distinguished tenure included a six-year stint as Chairman and Managing Director of Union Bank of India and a one-year as CMD at Dena Bank. Furthermore, he assumed the pivotal role of Chairman of the Indian Banks Association (IBA), a testament to his influence in shaping the financial landscape of India.
In addition to his leadership roles, Mr. Nair has played a pivotal part in driving significant initiatives within the banking and finance sector, championed by the Reserve Bank of India (RBI) and the Government of India. As a Non-Executive Chairman of KFin Technologies, he facilitated the scaling up of India’s largest registrar and market leader in investor servicing by enhancing its technology and service offerings.
Mr. Nair’s influence extends beyond the banking realm, as he has served as an Advisor to General Atlantic, a global private equity firm. His strategic acumen has been instrumental in advising select private equity and venture-backed companies on business strategy, new market entry, product diversification, and leadership.
Mr. Nair’s appointment as an advisor at Credgenics signifies a crucial milestone in the company’s journey towards innovation, growth, and global expansion. He brings a wealth of experience and a proven track record of strategic thinking that will be instrumental in shaping Credgenics’ future endeavors.
Mr. Nair will capitalize on his expertise as an advisor by guiding Credgenics’ strategic initiatives and decision-making processes. He will play a pivotal role in supporting the company’s global expansion and scaling growth vision. His mentorship, strategic guidance, and industry acumen are poised to position Credgenics for success in a competitive landscape while laying a strong foundation for innovation and lasting impact.
Commenting on this significant appointment, Rishabh Goel, Co-Founder & CEO of Credgenics, stated, “We are deeply honored to welcome Mr. M. V. Nair as a strategic advisor to our team. His unparalleled experience and profound insights garnered from decades of leadership in the banking and financial sector are poised to be a transformative force within Credgenics. With Mr. Nair’s strategic guidance, we anticipate enhancing our current capabilities and pioneering new dimensions of growth and innovation.”
“Mr. Nair’s extraordinary track record of leadership, ability to navigate complex financial landscapes, and strategic vision align perfectly with Credgenics’ mission and ambitions. His presence will undoubtedly reinforce our position as a leader in the financial services industry. As we continue to chart our course towards global expansion and excellence, we are confident that Mr. Nair’s contributions will be instrumental in shaping our future success,” he added.
Mr. M. V. Nair, Strategic Advisor at Credgenics, expressed his enthusiasm about association with Credgenics, saying, “Credgenics is indisputably at the forefront of fintech innovation, and I am genuinely excited to support their remarkable journey with my expertise. It is an exciting phase to be part of a dynamic team that is driving innovation at the intersection of finance and technology.”
“Today’s banking and financial services landscape is constantly evolving, with challenges and opportunities emerging at an unprecedented pace. Credgenics has demonstrated a clear commitment to pioneering technology solutions that not only help address these challenges but also unlock new growth avenues. I am eager to collaborate as we work together to shape the future of debt management,” he added.
Credgenics looks forward to the positive impact of Mr. Nair’s strategic guidance as they continue on the agenda to transform the debt management and resolution industry. With his appointment, Credgenics is well-positioned to make significant strides toward establishing global leadership.
Credgenics is the leading provider of Loan Collections and Debt Resolution technology platform to Banks, Non-banking finance companies, FinTechs, and ARCs worldwide. The AI-powered SaaS-based platform has been recognized twice as the #1 Best Selling Loan Collections Platform in India by IBS Intelligence in their Annual Sales League Table 2022 and 2023. Credgenics works with more than 100 customers and touched an overall loan book worth USD 60 Billion in FY23. It handles 11 mn retail loans accounts and sends 60 million digital communications every month. With Credgenics, lenders have increased resolution rates by 20%, improved collections by 25%, reduced collections costs by 40%, reduced collections time by 30%, and improved legal efficiencies by 60%. https://www.credgenics.com
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