Rubique Aims to Forge Strategic Ties With Financial Institutions in UAE
ABU DHABI, UAE, September 12, 2018/PRNewswire/ –Rubique Technologies, India’s leading financial matchmaking platform for loans and cards, is among the five global companies chosen by Abu Dhabi Global Market (ADGM) for its FinTech Regulatory Laboratory (RegLab) programme in first cohort. Charting its ambitious growth plans and making strides toward rapid expansion, Rubique team will aggressively explore partnership opportunities with UAE financial institutions. Rubique has been already approached by few large business houses in UAE and aims to pursue opportunities with leading financial institutions to kick start its operations soon.
With USD 360 billion in loan outstanding and 8% year-on-year growth in the same UAE offers huge potential in lending which can be disrupted through technology. Also, there are many market similarities with India & UAE on consumer front as well as in terms of the market inefficiencies like difficult access to finance leading to huge lending gap, ambiguity in assessment right product in absence of common platform etc.
Rubique has been able decipher the code in India by deploying various technology solutions for each stakeholder in loan supply chain & acting as eco-system enabler. It has same plans for UAE to empower partners with its flagship FinTech solutions in order to leverage technological innovations to make financial markets and systems more efficient while driving financial inclusion in the region. UAE is still in nascent stage compared to India in online lending market which has only comparison websites. With higher adoption towards technology & growing interest from banks situated in UAE to collaborate with fintech, this would be right time for Rubique to explore such opportunities
This year, Manav Jeet, MD & CEO along with Suraj Agarwal, Chief Technology Officer will be present in Abu Dhabi fintech summit to discuss its plan for UAE & MENA market & showcase its proprietary solution SPOT (Single Point of Truth) which is integrated with paperless-focused features like eKYC, bank statement analysis, credit bureau check, credit memo generation and MCA integration among others while allowing real-time credit decision making on the application.
Commenting on this development, Manav Jeet, MD & CEO said, “Business ecosystems in UAE & MENA region have transformed tremendously, reflecting immense need for a robust technological platform for seamless experience in banking and financial services. We aim to fill this gap by presenting a tried and tested highly tech intensive indigenous platform based on disruptive technologies including Artificial Intelligence and block chain. This will not only enable a cohesive fintech ecosystem in the region but also support financial ecosystem in rapidly enhancing the services. Thanks to ADGM initiative that we will be able to take the learning & advanced technology solutions beyond boundaries. We look forward to meet & discuss this with UAE financial services players to build transformational fintech ecosystem in UAE & MENA.”
Started in the year 2014, Rubique with its approach of ‘technology thinking of financial services’, has proven itself as the one of the fastest growing Fintech companies in India, witnessing 4X growth year on year. Built on a proprietary matchmaking algorithm, Rubique’s financial matchmaking platform along with its Credit Decisioning Engine have been integrated with financial institutions’ systems for real time processing and providing faster credit facilitation to the customers. Presently, Rubique offers more than 350+ financial products through its tie up with leading financial institutions in India. Rubique today has serviced more than 2,00,000 happy customers by facilitating over USD 500 million loans and over 1,50,000 credit card setups generating revenue of USD 9mn.
Rubique is India’s leading financial matchmaking platform across credit cards, personal loans and SME lending. With Rubique, customers can choose from more than 350+ financial products through its tie ups with 100+ financial institutions. Rubique’s proprietary AI based recommendation engine and financial matchmaking platform allow financial institutions real-time processing, instant online approvals and seamless disbursal while enabling right and the best deals for customers. Further, Rubique’s unique Credit Decisioning Engine(CDE) and Credit Policy Digitisation are transforming the credit underwriting process along with improved credit disbursal pipeline for financial institutions. The platform is embedded with features including e-KYC, bank statement analysis, credit bureau check, credit memo generation & real time application tracking. Rubique was the winner of The Asian Banker ‘Beijing Financial Innovation Showcase and Competition 2018’. The company was also part of FinTech Regulatory Laboratory (RegLab) program curated by Abu Dhabi Global Market (ADGM).
For more information, please visit the company’s website at https://www.rubique.com/
Source: Rubique Technologies