AP Government gets Rubique onboard to leverage its tech interventions at Vizag

Rubique is on an aggressive spree of taking its services to as many Indians as possible in a bid to revolutionize the traditional lending scenario of the country. Adding momentum to its vision is its handshake with the Andhra Government’s recent plan of developing Visakhapatnam as the fintech hub of the country. Having identified the state as a key market with tremendous potential, Rubique has signed an MoU with the state government to be a part of its Fintech Valley Initiative and is foraying into the geography with its first branch in the city of Vizag.

Rubique has been transforming the traditional lending process through technological interventions in an unparalleled manner, helping a large number of customers in fulfilling their financial requirements. By collaborating with the Andhra Pradesh Government, Rubique will accelerate its journey in digitizing the financial sector by bringing tech-driven paradigm shifts in traditional practices through its unique Online PLUS model. The platform enables users to get the best KYC, credit bureau integration, banking analysis, enhanced logic in proprietary matchmaking algorithm, and the addition of new data science methodologies. Additionally, its AI deals and have their loan applications processed faster through PAN verification, Aadhaar based e-and decision engine powered bot, Rubot, is aimed at easing the transaction experience, whereas the TAB solution offers a wide SME product portfolio.

Commenting on the partnership, Manav Jeet, MD & CEO, Rubique said, “Andhra Pradesh is becoming one of the pioneers of the digital revolution in India and we are quite excited to be a part of this upcoming ‘Fintech Valley’ of the country. Through our expansion in the state, we are hoping to witness nearly fivefold increase in the number of aspiring entrepreneurs and individuals who would be willing to take the digital route of raising finance to fulfill their business goals.”

Mr. J A Chowdary, Special Chief Secretary & IT Advisor to the Chief Minister - Govt. of AP. - ‎said, “Vizag is transitioning swiftly towards being a dynamic ecosystem, responding well to fintech opportunities. There is an immense opportunity in India shift from traditional practices and help customers with easy access to finance, thereby reducing the credit gap. We are happy partner with Rubique, whose vision is aligned towards collaborating to create a fintech ecosystem in Vizag."

As a start of this engagement, Rubique is participating in a mega-conference on Blockchain organized by the Government of Andhra Pradesh on the 9th & 10th October. Rubique has also announced an award of Rs. 2 lacs and wild card entry into its upcoming “Fintech EDGE” award in collaboration with CNBC TV 18 for “Outstanding Blockchain idea”, which was to be chosen from the Startup challenges nominees at this conference. The award has been won by Easter Egg, a Blockchain-enabled gifting platform that leverages the security and efficiency of Blockchain technology to enable transactions in cash and kind seamlessly across geographical boundaries.   

Amid all the fintech firms operating in the country today, Rubique stands out as one of the few success stories driving India’s rapidly-growing digital financial services sector. Recently, the company was selected by Abu Dhabi Global Market (ADGM) to be a part of the first batch of its FinTech Regulatory Laboratory (RegLab) program. The company will now develop and test its fintech innovations further as part of the program. In the Paris fintech forum 2017, Rubique was among 130+ fintech participants shortlisted across 25+ countries. At the prestigious Benzinga Global Fintech Awards 2017-New York, Rubique was the finalist in the category of Best Lending Platform Tool, competing with globally renowned fintech players. Recently, Rubique has also been featured in IDC’s FinTech 101 list for Asia/Pacific and mentioned as one of the 10 fast growing fintechs in India.