Recordent signs MoU with International Federation EV Association to build a credit bureau for EV businesses and help in credit risk and collections solutions

Hyderabad, March’24: Recordent Pvt Ltd, India’s leading credit and collections management software platform, signs MoU with the International Federation of Electric Vehicle Association (iFEVA), India’s premier non-profit organization dedicated to fostering the growth and development of the electric vehicle (EV) sector. Through this strategic alliance, Recordent is committed to extending its cutting-edge credit, collections, and recovery solutions to iFEVA member businesses, marking a pivotal moment in the evolution of the electric vehicle industry.

The collaboration aims to establish an ecosystem of creditworthy sellers and buyers within the EV sector, empowering businesses to focus on their overall growth trajectory. This partnership underscores Recordent’s unwavering dedication to supporting and enhancing the electric vehicle industry in India, aligning with its mission to drive innovation and progress in the financial technology landscape.

The Recordent team, in collaboration with iFEVA, recently convened a panel discussion at New Delhi on the, “Anticipated challenges and opportunities for SMEs in the EV sector in the upcoming 2-3 years”. The event featured a thought-provoking panel discussion from esteemed panelists including industry leaders from DNA Technology, EY-Parthenon, Sampoorna EV, Zaviks Energy, and LUB.The session delved into critical aspects of the financial challenges confronting businesses within the sector, offering invaluable insights on overcoming these obstacles seamlessly. The panel session was followed by an insightful presentation on “Championing Growth with Calculated Risk and Improved Collections” by Mr. Winny Patro.

Speaking on the sign up, Mr. Winny Patro, CEO and Co-Founder, Recordent said, “We are thrilled to collaborate with the International Federation of Electric Vehicle Association in our shared mission to revolutionize credit management for EV businesses in the country. This partnership underscores our commitment to providing innovative solutions to streamline cash flow challenges faced by businesses, ultimately contributing to their financial success.”

Dr. S.K. Saroj, Chairman of iFEVA, echoed Mr. Patro’s sentiments, remarking, “Our collaboration with Recordent marks a significant milestone in our journey to support member companies. By leveraging their expertise in credit and collections management, we aim to simplify financial processes, enhance efficiency and empower businesses within the association. Together, we aspire to create a more resilient financial ecosystem for our member businesses.”

Following the MoU, strategic leadership appointments were made, Mr. Winny Patro as President, Payment Recovery, and Mr. Anurag Jain as Vice President, Payment Recovery. These appointments aim to bolster involvement in Collections, Recovery, and Credit Risk Management, advancing credit management within the iFEVA network.