As we enter 2024, Madhusudan Ekambaram, Co-founder and CEO at KreditBee, has shared insights on the Fintech-sector at large as well as his outlook for 2024.
Madhusudan Ekambaram, Co-founder and CEO at KreditBee said that we “have seen a robust demand for credit in the Indian market, suggesting our evolving fintech landscape.”
Ekambaram added that this surge “not only signifies the economic prowess of our nation but also speaks volumes about the aspirations of our people. NBFCs have played a pivotal role in extending financial services to previously underserved areas.”:
Ekambaram from KreditBee further noted that “the confluence of factors such as increased internet penetration, a burgeoning middle class, a tech-savvy customer base, and government initiatives has fueled this demand.”
Fintech lending companies, including KreditBee, “have actively contributed to this shift, offering tailored products that resonate with the diverse needs of our expanding customer base.”
Madhusudan Ekambaram, CEO at KreditBee, added:
“In fintech lending, rising cyber threats necessitate ongoing investment in cybersecurity. The spotlight in 2024 is on Regtech, integrating AI, blockchain, and cloud computing for compliance in the face of growing regulatory complexity. These emerging trends in fintech lending not only herald a transformative journey but also underscore the delicate balance between innovation and responsibility. They lay the groundwork for a future where finance is not only more efficient and customer-centric but also upholds ethical standards and champions inclusivity.”
As covered, KreditBee claims it is among India’s leading online credit solution providers”
With a strong focus on online tech-based and data-centric KYC, KreditBee envisions solving the financial inclusion gap in “the varied demographic segments of the country.”
The platform is a Series-D funded entity, “backed by Advent International, Premji Invest, Motilal Oswal Alternates, TPG-NewQuest, Mitsubishi UFJ Financial Group, ICICI Bank, and Mirae Asset Venture Investments.”
The company serves “the credit and other personal finance requirements through its in-house RBI-registered NBFC – KrazyBee Services Private Limited (a Systemically important NBFC) along with partnerships with over 12 renowned financial institutions.”