We are using AI and ML techniques to unlock unmatched efficiencies: Gaurav Kumar, founder and director, Vivriti Capital

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Updated: August 21, 2019 3:32 PM

“We plan to increase our user base from 1,000 to 1,00,000 and our volumes from Rs 17,000 crore to Rs 1,00,000 crore by 2024,” says Gaurav Kumar, founder and director, Vivriti Capital.

AI, ML technique, Gaurav Gupta, Vivriti Capital, technology news, industry news, marketplace, financial services, small enterprises, interviewGaurav Kumar, founder and director, Vivriti Capital

Headquartered in Chennai, Vivriti Capital is a fast-growing online platform for institutional debt in India. It has been set up with the objective of creating the largest and most valuable marketplace for financial services, serving a client base of financial institutions, corporates and small enterprises which lack efficient access to financial services. “We plan to increase our user base from 1,000 to 1,00,000 and our volumes from Rs 17,000 crore to Rs 1,00,000 crore by 2024,” says Gaurav Kumar, founder and director, Vivriti Capital, in an interview with Sudhir Chowdhary. Excerpts:

Tell us something about the platform/marketplace.
Vivriti Capital empowers institutional and enterprise borrowers to put up their debt requirements, access structured finance products and connect to a wide range of borrowers. The platform addresses the debt requirements of a firm across its lifecycle. On the other hand, it provides detailed and updated credit information about the borrowers to investors which enables them to make quick and informed decisions in addition to active portfolio monitoring. Using avant-garde technologies, we have been able to reduce the execution timelines by almost 60% while also making the process more cost-effective and efficient for all stakeholders.

At present, the marketplace has six live products, namely securitisation (direct assignments, pass through certificate), commercial paper (CP), certificates of deposit (CD), non-convertible debenture and term loans with more products lined up for launch in the near future.
How is Vivriti Capital utilising AI and ML to approach potential customers?
Vivriti Capital leverages advanced analytics, AI, and Machine Learning techniques to unlock unmatched efficiencies for our customers. Our data scientists have developed a proprietary algorithm for transaction and client module, thereby reducing the turnaround time (TAT) by almost 60%. This is a direct result of advanced predictive analysis, statistical models, credit-scoring models, and recommendation engines. We also extend superior personalisation to our customers via customisable user dashboards.

How is your business model different from that of regular lenders?
Primarily, we on-board borrowers and help them post their debt requirement on the platform. We charge the borrower a fee as per the volume of a deal. Secondly, we offer a host of analytical and reporting modules that can be subscribed as standalone services by our borrowers/investors. We also have our direct on-balance sheet lending, using which we have disbursed around Rs 850 crore. This has also made Vivriti a ‘Systemically Important NBFC’.

What are your plans for the year ahead?
We plan to increase our user base from 1,000 to 1,00,000 and our volumes from Rs 17,000 crore to Rs 1,00,000 crore by 2024. We are witnessing significant adoption of our standalone offerings such as the ‘Reporting and Analytics Solution’. At present, our focus is on making the platform a plug-and-play model and enable API integration across parties. The team is focusing on expanding into new sectors wherein the approach is to first develop an in-depth knowledge of the sector and its underlying risk before taking an exposure.
We believe NBFCs with strong fundamentals will continue to enjoy market confidence.

Are you looking at hiring on the tech side? What do you think is the best skill in this segment?
We are significantly ramping up our technology to support the scale that we envisage. The team comprises 50 professionals. The upcoming recruitment drive will double this figure to 100 by the end of 2019. The company is planning to hire professionals across various tech specialisations like development (core technology), design, data scientists, data privacy and security from mid- to senior-levels.

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