{"id":20381,"date":"2023-05-22T12:37:58","date_gmt":"2023-05-22T12:37:58","guid":{"rendered":"https:\/\/dailynewsindia.co.in\/index.php\/2023\/05\/22\/pepper-advantage-acquires-ai-driven-credit-management-platform-rieom-ai\/"},"modified":"2023-05-22T12:37:58","modified_gmt":"2023-05-22T12:37:58","slug":"pepper-advantage-acquires-ai-driven-credit-management-platform-rieom-ai","status":"publish","type":"post","link":"https:\/\/dailynewsindia.co.in\/index.php\/2023\/05\/22\/pepper-advantage-acquires-ai-driven-credit-management-platform-rieom-ai\/","title":{"rendered":"Pepper Advantage acquires AI-driven credit management platform Rieom.ai"},"content":{"rendered":"
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Global credit intelligence provider, Pepper Advantage, has acquired Rieom.ai, a specialist AI\/ML-driven credit assessment software platform for the Asian markets<\/em><\/p>\n

Mumbai (Maharashtra) [India], May 22:<\/strong>\u00a0Pepper Advantage, a global credit intelligence company, has acquired Rieom.ai, a specialist AI-driven credit management software platform based in Pune, India. \u00a0Rieom.ai\u2019s flagship product is an AI\/ML-driven predictive pre-payout credit approval tool that uses socio-demographic and profile-based analysis to assess loan application documents to identify fraud risks and other suspicious behaviour prior to credit approval.<\/p>\n

The tool is a continuous learning platform that can support the credit risk assessment of over 60 different document types, from ID verification to bank statements and utility bills. \u00a0Algorithm-driven, it can be integrated directly into the loan originator\u2019s credit management systems via API, providing a scalable, holistic, contextual and relationship-driven platform to evaluate loan application and portfolio risk analysis. \u00a0 The product also includes automated transaction monitoring and is vastly superior to the manual and individualised internal processes that commonly slow credit applications across India\u2019s financial services sector.<\/p>\n

Benefitting from modern technological architecture and first-mover advantage, Rieom.ai has screened close to 700,000 applications and has processed over 2.3m documents. The company expects to continue its rapid growth as it currently has the capability to service a near-limitless volume and range of document types. \u00a0 As a result, Pepper Advantage intends to expand its applicable market in India to include fintech, microfinance companies, small finance businesses, cooperative banks, insurance and government institutions.<\/p>\n

Pepper Advantage\u2019s acquisition of Rieom.ai marks an aggressive expansion into the Indian market and is indicative of the AI-driven credit management model it plans to bring to additional markets such as Indonesia, Vietnam and the Middle East in the near term. \u00a0The acquisition of Rieom.ai also brings significant product development opportunities as its technology is integrated into Pepper Advantage\u2019s credit technology platform, which offers propriety data and analytics capabilities that can replace legacy credit management processes with an end-to-end solution accessible via API.<\/p>\n

Commenting on the acquisition,\u00a0Fraser Gemmell, Chief Executive Officer of Pepper Advantage,<\/strong>\u00a0said,\u00a0“The acquisition of Rieom.ai rapidly expands Pepper Advantage\u2019s addressable market in India and represents an AI-driven credit management model we will soon be bringing to additional high-growth countries. \u00a0 It also furthers our suite of cutting-edge technology and gives us the opportunity to add credit risk analysis to our broader platform, a growing priority in the market since the Reserve Bank of India highlighted rising instances of fraud in its most recent annual report. \u00a0Our commitment to improving our data and technology capabilities is expanding Pepper Advantage\u2019s client pool from traditional loan originators at financial institutions to include the fast-growing non-bank lending sector, which is typically more reliant on third-party tech providers that offer plug-and-play solutions.\u201d<\/em><\/p>\n

Mukund Kulkarni, CEO of Pepper Advantage India, said<\/strong>,\u00a0\u201cIndia\u2019s macro-economic growth is being propelled by astonishing demographics.<\/em>\u00a0<\/em>India became the world\u2019s most populous country last month, with the population expected to peak at 1.7 billion in the coming years, which would be almost 50% greater than that of China. \u00a0We expect the credit and financial services markets to expand in line with these demographic trends, with systems growth for loans currently tracking at 20% year-on-year and retail and MSME disbursement expected to grow at 19% annually for a decade. \u00a0Such growth means credit providers will need to leverage the data and technology we offer to deliver services efficiently at scale. \u00a0This technology will drive financial inclusion in India\u2019s rapidly expanding population by assessing creditworthiness without a credit score, which can be a barrier to entry for the unbanked.\u201d\u00a0<\/em><\/p>\n

If you have any objection to this press release content, kindly contact pr.error.rectification[at]gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Global credit intelligence provider, Pepper Advantage, has acquired Rieom.ai, a specialist AI\/ML-driven credit assessment software platform for the Asian markets Mumbai (Maharashtra) [India], May 22:\u00a0Pepper Advantage, a global credit intelligence company, has acquired Rieom.ai, a specialist AI-driven credit management software platform based in Pune, India. \u00a0Rieom.ai\u2019s flagship product is an AI\/ML-driven predictive pre-payout credit approval…<\/p>\n

Read More “Pepper Advantage acquires AI-driven credit management platform Rieom.ai”<\/span> »<\/a><\/p>\n","protected":false},"author":1,"featured_media":20382,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[54],"class_list":["post-20381","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-business"],"_links":{"self":[{"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/posts\/20381","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/comments?post=20381"}],"version-history":[{"count":0,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/posts\/20381\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/media\/20382"}],"wp:attachment":[{"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/media?parent=20381"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/categories?post=20381"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/tags?post=20381"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}