Company News AsiaCollect, SEA Leader in Digital Credit Management Services, Expands to India Through Acquisition 17 Oct 2018 • 2 min read AsiaCollect, a pioneer in providing integrated Credit Management Services (CMS) in Southeast Asia, has acquired India-based credit lifecycle management platform provider Creditseva. The acquisition builds on AsiaCollect’s plans to help banks and non-bank consumer lenders in Asian emerging markets manage their non-performing loan (NPL) portfolios through a technology-driven, customer-oriented debt collections approach driven by artificial intelligence (AI) and psychometric analysis.The acquisition of Creditseva builds on AsiaCollect’s core strengths in its unique position as an integrated CMS provider, ability to improve recovery rates for lenders, and strong presence in the Southeast Asian market. Going forward, the Creditseva team will operate in India under the AsiaCollect brand and offer AsiaCollect’s integrated suite of digital CMS, including CMS Outsourcing and Advisory, NPL Purchasing, and Software-As-A-Service (SaaS).Tomasz Borowski, CEO and co-founder of AsiaCollect, said, “I am excited to welcome Satya and his team to AsiaCollect. Creditseva has proven to be an industry leader in credit lifecycle management and brings to the team strong local industry know-how, network and IT capabilities. Together with AsiaCollect, we will leverage our synergies in consumer NPL management to transform what is still a traditional field-based collections sector in India to one of unparalleled levels of efficiency and innovation.”Satya Vishnubhotla, CEO and co-founder of Creditseva, said, “We are thrilled to be part of a team with a proven track record in rapidly scaling across some of the largest emerging markets in Asia and backed by a strong team of consumer finance veterans and investors such as FORUM, SIG and Dymon Asia Ventures.”“Joining a company that brings with them such high international standards of technological efficiency, professionalism and ethics in their collections, will help us differentiate ourselves to serve the growing NPL market in India,” added Vishnubhotla, who will assume the role of country manager for India call center operations, office administration, IT and quality control.AsiaCollect’s expansion to India is timely as it is estimated that unsecured consumer NPLs have risen 27 percent from 2014-15 to 2017-18, and is expected to continue to grow at 24 to 25 per cent till 2020-21. India currently holds over $150 billion in unsecured consumer NPLs.Launched in 2016 in Vietnam, AsiaCollect is led an international management team with decades of experience in CMS and consumer finance in emerging markets. The company is backed by fintech venture builder FORUM and leading fintech investors Fintonia Group, Dymon Asia Ventures and SIG Asia Investments.