Only Indian startup to be among the finalists of the 2021 edition
NEW DELHI, May 27, 2021 / PRNewswire / – Yabx, a digital lending fintech company, today announced that it is the only Indian startup to be shortlisted by the GSMA for the 2021 GLOMO 4YFN (4 Years From Now) Impact Awards.
The 4YFN Impact Awards are the GLOMOS category aimed at finding the best digital startups from around the world that have a lasting impact in the world, leveraging disruptive technologies to reach the 17 Sustainable Development Goals.
Yabx was incubated by Comviva Technologies, the global leader in mobile financial services and one of the world’s largest providers of mobile wallet technology. Yabx’s vision is to simplify financial access to the more than two billion unbanked populations in the emerging markets of Africa, Asia, and Latin America. It leverages technology and analytics to lower the cost of providing financial services, thereby bringing banking services to underserved people. Its digital lending products range from $ 15 at $ 5,000 and can be used by individuals and small businesses for paying utility bills, tuition, financing smartphones, working capital requirements, etc.
Speaking on the nomination, Rajat dayal, Founder and CEO of Yabx said: “Our nomination to the 2021 GLOMO 4YFN Impact Awards is a testament to the impact we have had. We have executed the credit ratings of over 150 million creditworthy, but underserved, borrowers in 15 countries. We process more than 100 billion data records in a month on our partner networks. “
“Yabx has created new models of credit risk, based on artificial intelligence and machine learning. Over the years, Yabx has developed a fairly large global footprint, spanning Asia, Africa and South America. We enable banks and microfinance institutions (MFIs) to build a profitable, unsecured portfolio in markets where credit bureaus coverage is limited. Our goal is to innovate new products to provide end-to-end management of the small note lending workflow. ” Rajat added again.
Yabx works with alternative data sources (Telecom, MFS, merchant networks, PoS, etc.) to create behavior models that have similar accuracy to the output of credit reference bureaus. This helps banks take out a new population of credit that has not had access to credit due to traditional bank policies.
Please contact:
Sundeep Mehta
[email protected]
SOURCE Yabx
