Wednesday, September 27, 2023
HomeInsightNews & UpdatePepper Advantage Acquires Rieom.Ai Credit Management Firm

Pepper Advantage Acquires Rieom.Ai Credit Management Firm

Pepper Advantage, a worldwide credit intelligence company, has completed the acquisition of, a specialized credit management software platform powered by artificial intelligence (AI). is headquartered in Pune, India.

Pepper Advantage, a worldwide credit intelligence company, has completed the acquisition of, a specialized credit management software platform powered by artificial intelligence (AI). is headquartered in Pune, India.

Its primary offering is a cutting-edge predictive pre-payout credit approval tool that utilizes AI and machine learning (ML) techniques. This tool employs socio-demographic and profile-based analysis to evaluate loan application documents, enabling the identification of fraud risks and other potentially suspicious activities before granting credit approval, as per reported by Businesswire.

Read also – Stylework & FICCI’s partnership paves way for new era of workspace innovation

Additionally, the product features automated transaction monitoring, which outperforms the conventional manual and personalized internal processes that often hinder credit applications within India’s financial services industry.

Commenting on the acquisition, Fraser Gemmell, Chief Executive Officer, of Pepper Advantage said: “The acquisition of rapidly expands Pepper Advantage’s addressable market in India and represents an AI-driven credit management model we will soon be bringing to additional high-growth countries. It also furthers our suite of cutting-edge technology and allows us to add credit risk analysis to our broader platform, a growing priority in the market since the Reserve Bank of India highlighted rising instances of fraud in its most recent annual report. Our commitment to improving our data and technology capabilities is expanding Pepper Advantage’s client pool from traditional loan originators at financial institutions, to include the fast-growing non-bank lending sector, which is typically more reliant on third-party tech providers that offer plug-and-play solutions.”

Read also – [Funding alert] Speed Kitchen secures Seed round led by Inflection Point Ventures

Pepper Advantage’s purchase of signifies a bold move towards entering the Indian market, demonstrating their intent to introduce an AI-based credit management model in other regions like Indonesia, Vietnam, and the Middle East soon. This acquisition also presents substantial prospects for product development as’s technology becomes integrated into Pepper Advantage’s credit technology platform. This platform provides exclusive data and analytics capabilities, enabling the replacement of outdated credit management methods with a comprehensive solution accessible through APIs.

Mukund Kulkarni, CEO of Pepper Advantage India, said: “India’s macro-economic growth is being propelled by astonishing demographics. India became the world’s most populous country last month, with the population expected to peak at 1.7 billion in the coming years, which would be almost 50% greater than that of China. We expect the credit and financial services markets to expand in line with these demographic trends, with systems growth for loans currently tracking at 20% year-on-year, and retail and MSME disbursement expected to grow at 19% annually for a decade. Such growth means credit providers will need to leverage the data and technology we offer to deliver services efficiently at scale. This technology will drive financial inclusion in India’s rapidly expanding population by assessing creditworthiness without a credit score, which can be a barrier to entry for the unbanked.”

Read also – Digitas India appoints Rishi Sen as SVP and business head – West

About Pepper Advantage

Pepper Advantage is a renowned international credit intelligence firm that provides a diverse range of advisory and credit management solutions and technologies across various regions, namely Asia, Europe, and the United Kingdom. The company operates across multiple asset classes, encompassing residential and commercial mortgages, real estate, SME loans, asset financing and leasing, auto and consumer loans, credit cards, retail finance, and BNPL (Buy Now Pay Later).

Additionally, Pepper Advantage offers a comprehensive suite of outsourced operational support services to both financial and non-financial clients. Its primary objective is to assist investors, financial institutions, fintech companies, and banks in effectively managing their credit portfolios, specifically serving clients whose customers are typically overlooked by traditional mainstream lenders.

Read also – Electric One Appoints Guido Quill as Chief Operating Officer (COO)

- Advertisment -

Most Popular

- Advertisment -

Also Read

- Advertisment -