How fintech platform Yubi is unlocking unlimited opportunities for Indian businesses using AWS
Access to credit is fundamental to the growth of any business. Founded in 2020 by Gaurav Kumarunified credit platform Yubi (formerly CredAvenue) helps businesses and enterprises secure debt from lenders and built India’s most comprehensive technology stack to address businesses’ complete debt cycle from origination to collection.
Realizing the power to be a transformative platform and to unleash the true potential of Indian businesses, CredAvenue rebranded itself as Yubi in June 2022, to become a ubiquitous layer that energizes the credit infrastructure of the country. In just two years, Yubi grew in scale, size and mission to become the world’s first unified credit platform that powers the end-to-end discovery, execution and fulfillment of the debt lifecycle.
Mathangi SriChief Data Officer, Yubi; Harshwardhan MittalChief Technology Officer, Yubi along with Vivek MurugesanVice President, ML Engineering, Yubi talked about how Yubi is on a mission to create a transparent, defensible and reliable finance solution and how partnering with AWS helps them unlock endless possibilities.
Building the debt infrastructure of India
Backed by marquee investors like Sequoia, Lightspeed Ventures, B Capital Group etc, Yubi aims to drive the USD 120 trillion global corporate debt market to unlock a GDP multiplier and create massive economic value.
“We have 3,000+ corporate customers and we are supported by 750+ lenders on the platform. So far we have facilitated debt volumes of over INR 100,000 crores,” reveals Harsh.
Yubi is a unique marketplace that caters to both borrowers and investors. Some of the products in the portfolio include Yubi Loans, Yubi Co.Lend, Yubi Invest, Yubi Flow, Yubi Pools, Yubi Build, spocto and Corpository. From automating corporate lending needs to providing a co-lending platform, interest rate instruments to enabling an AI-integrated recovery infrastructure, each of the solutions contributes to the debt/lending infrastructure in a significant way.
AWS – a key partner
Harsh describes AWS as a key partner in their scaling journey. “We use a wide range of AWS services such as Amazon ECS, AWS Fargate, Amazon RDS, Amazon Aurora, Amazon Cloudwatch etc. for our application stack,” he says.
In Yubi’s mission to change the debt landscape in India, data plays a critical role as the company has large volumes to ingest from both internal and external sources. “Through Amazon Data Lake, we collect data from both public and private sources which is then analyzed across multiple models deployed on Amazon Sagemaker. The synthesized data is then presented using Amazon Quicksight in the form of images and reports,” shares Harsh.
Utilize AI/ML to increase business effectiveness
Mathangi Sri, Chief Data Officer at Yubi explains how AI/ML takes center stage when it comes to simplifying the lifecycle of a credit transaction. “From discovery between lenders and borrowers to implementation of transitions, post-monitoring to final collections, we leverage AI/ML to implement end-to-end execution for our clients,” says Mathangi.
She believes AWS has been an important strategic partner in helping Yubi make the entire experience for customers frictionless. “When we use Amazon Sagemaker, it reduces the TAT for ML models to go live. Also, it allows our data scientists to be more productive in learning and exploring ML models instead of worrying about the operations,” she adds.
AWS solution architects and other specialty teams have offered constant support to help Team Yubi build seamless models. “We work closely with AWS teams across functions, and they have been of great help to us in unblocking various issues while training and deploying all our models,” shares Vivek.
Yubi is on a mission to build a world-class debt marketplace to enable businesses to realize their maximum potential. The journey of building such a solution is powered by the AI/ML capabilities of AWS infrastructure and components.