Powering The Data Stacks Of Fintechs | Digitap
In a gold rush, the most profitable businesses sell shovels to the gold diggers. This episode is about one such startup that is selling shovels in the fintech gold rush India is presently witnessing!
With the world economy coming to a halt during COVID-19, money lending became risky. Many banks and fintech firms were caught off guard because they couldn't identify the profile of their customers. Nageen Kommu understood the need of building a company that would do background and financial checks on its clients before considering whether or not to lend.
Digitap, founded in 2019, is a fintech platform that provides credit underwriting and digital client onboarding solutions to banking, financial services, and insurance companies.
Digitap helps startups in gathering data on customers across many variables, allowing them to make better risk management and customer engagement decisions.
Nageen recounts the experience of his first business, which failed, and finally discovering product market fit in his second venture. He discusses the importance of consumer data and the various ways in which they help their clients with data.
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Some of the things he shared:-
Experience of building first startup
NACH mandate
Building a credit engine
Customer acquisition tactics
Additional readings:-
“Alternate Data Solutions Help Avoid Negative Profiles” Says Nageen Kommu
Fintech industry seeing new techniques of assessing credit story
Before you go……the analytics only tell me so much, I want to hear what you feel and think about the conversations.
Mail me at ad@thepodium.in with your comments & feedback or if you just want to hear my comments on your startup idea - I love getting your emails!
Until the next founder's thesis📕,
Your host, AD