CLICKNPAY DIGITAL SOLUTIONS INDIA PRIVATE LIMITED

In their own words

1. What is the problem the start-up is solving? The financial institutions in India today are facing huge problem of recovery of credit from their customers resulting in huge provisioning, bad debt creation and NPAs in their books of accounts. Also, currently there is no digital solution or network regarding post credit disbursement due diligence of customers. 2. How does your start-up propose to solve this problem? To provide a digital platform to financial institutions for recovery of credit and conduct diligence of customers who have taken credit from such financial institution by creating a digital network of recovery agents and business correspondents. From customer point of view it will provide them opportunity to make their credit default good and incentivizing the persons availing such option. The purpose is to create a digital solution based on the principles of network marketing for increasing recovery of credit, ensuring due diligence in all stages of re-payment lifecycle and create an integrated framework for financial institutions, credit takers including defaulters, recovery agents and business correspondents. 3. What is the uniqueness of your solution? This will digitalize the current process of credit recovery by financial institutions, enhance their due-diligence framework and create a network of all concerned stakeholders. 4. How does your start-up generate revenue? The revenue would be directly linked to amount of recoveries made for the financial institutions on percentage basis.

Written by the company on its public Startup India profile. Not verified by us.