Leading the Charge: 5 Tech Companies Revolutionizing Loan Recovery in the New Age of Lending

The digital lending landscape in India has witnessed a significant surge in recent years, driven by technological advancements and increased internet penetration. This trend has made credit more accessible to a broader spectrum of the population. However, as the digital lending ecosystem expands rapidly, it becomes crucial to strike a balance between accessibility and responsible lending practices. Ensuring that borrowers are not burdened with excessive debt and protecting their financial well-being is of paramount importance.

Concurrently, India is experiencing a notable rise in digital debt collection players. These fintech firms leverage technology and AI to streamline and enhance the often laborious and time-consuming debt recovery process. By offering efficient solutions for lenders and collection agencies, these players contribute to maintaining a healthy credit ecosystem. The challenge lies in regulating this burgeoning sector to ensure ethical and fair debt collection practices while safeguarding the interests of both borrowers and lenders.

Mentioned below are some of the players who are offering digital debt collection solutions to Lending Institutions and borrowers.


CLXNS (pronounced as collections) Technologies Pvt. Ltd is one of India’s leading digital-first debt resolution companies that is committed to streamlining the debt recovery process for various lenders like banks, NBFCs, and fintech firms. With India on the verge of massive credit growth, CLXNS is 100% compliant with RBI’s code of conduct and strictly adheres to the Principles of Fair Debt Collections Practices (FDCP) as suggested by the Reserve Bank of India. The company is focused on building scalable digital first infrastructure to manage debt resolution needs of all lenders, thereby enabling them to focus on their core operations.

Headquartered in Mumbai, CLXNS’s foremost priority is compliance and governance. The collect tech pioneer strives to achieve maximum collection efficiency by minimizing non-performing assets (NPA) and proactively preventing predicted credit losses. This enables them to optimize their debt collection efforts and enhance the overall collection performance.

PAYTM Creditmate

CreditMate is a fintech company based in Mumbai, India, specializing in overdue payment collections. Their platform sets a global standard for collections management through the use of technology and AI. The platform enables faster and more efficient collections, utilizing traditional human field and call task management as well as digital collections through campaigns. Their technology is employed by lenders of all sizes, ranging from startups to international and domestic banks. CreditMate’s Fincollect Network is India’s first collection aggregator, encompassing professional Call Centers, Collection Agencies, Field Agents, Cash Collect Networks, and a comprehensive suite of Digital Collections services available in multiple languages nationwide. For Indian lenders, the Fincollect Network comes pre-configured within the CreditMate Platform, allowing for instant allocation of cases to replace, augment, or support existing internal or external teams.


goCollect is an innovative application and platform designed for debt recovery and payment collection. It has been introduced to the market by Credility, a leading player in online financial services. goCollect smoothly automates the arduous tasks of monitoring performance, communicating with debtors, anticipating issues, and prioritizing debt recovery for NBFCs, banks, and other financial lending institutions. This streamlined approach results in faster, simpler, and less stressful collections. The goCollect app caters to on-field collection teams within financial lending institutes and aims to reduce reliance on third parties by handling everything from creating flexible payment arrangements for borrowers to sending timely payment reminders. Access to digital debt collection tools like goCollect significantly enhances a financial lending institution’s ability to manage past-due collections and improve repayment rates.


Creditas Solutions Private Limited, commonly known as Creditas, is an Indian fintech company that operates primarily as a technology-driven platform assisting lenders in more efficiently managing their credit portfolios. Creditas offers a range of tools and technologies to help lenders and financial institutions optimize their credit portfolios, including risk assessment, loan origination, underwriting, and monitoring services. The company harnesses the power of data analytics, artificial intelligence (AI), and machine learning (ML) to provide insights into credit risk and customer behavior. Creditas also offers lending solutions that support various types of loans, such as personal loans, business loans, and consumer loans, through its platform. By automating various aspects of the lending process and providing data-driven insights to assess borrower creditworthiness, Creditas aims to streamline operations, reduce manual intervention, and enhance overall efficiency for lenders.


While debt collection used to rely on assertive agents, disconnected phone calls, and lengthy legal battles, loan management software had a greater focus on the underwriting process. The company recognized the positive impact that increased collections could have on both the economy and lenders. We understood that improving loan recovery could transform the lending landscape. Since then, Credgenics has aided over 100 banks, NBFCs, fintech firms, and ARCs in raising resolution rates by 20%, enhancing collections by 25%, reducing collection-related costs and time by 40%, and boosting legal efficiency by 60%. Credgenics currently manages retail loan portfolios worth over USD 47 billion, with more than USD 6 billion in overdue loans. Each month, it handles over 40 million retail loans and sends out over 60 million digital messages.

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