Rubique: Decrypting Communication between the Borrowers and Lenders

Manav Jeet, MD & CEO
India has made tremendous progress in building infrastructure and regulatory frameworks that encourage digital innovation in financial services. However, adoption and usage of new offerings have been slow to take grounds and scale. Current digital financial offerings are seen as overly complex even by savvy consumers. “The consumer behavior for online financial services is still at nascent stage. Customers are looking for a partner who will provide end-to- end solution”, says Manav Jeet, MD & CEO at Rubique. Headquartered in Mumbai, Rubique has been focused on providing end to end fulfillment to their customers through a revolutionary matchmaking platform built on advanced technologies. Rubique is an online credit marketplace in India which empowers individuals and SMEs with an easy and smoother access to finance through wide range of loan and credit card products. Rubique’s matchmaking platform is integrated with 89+ Indian lending financial institutions for real time processing and provisioning of online approvals to customers.

The Physical Platform- Technologically Fixed
Rubique’s matchmaking platform offers neutrality where lenders and borrowers can discover each other bringing transparency in the process. Rubique’s financial AI based recommendation platform is based on a unique proprietary algorithm designed to match the right financial product to the customer profile. The platform is integrated with financial institutions’ systems for real time processing and providing online approvals to the customers.The advanced technology platform not only reduces the processing time significantly, but the data analytics done on multiple data points helps bring predictability and assess creditworthiness offering best deals to the customers. This platform is built on the core system developed inhouse - called SPOT (Single point of Truth). The SPOT hosts features like a lead management system, data analytics, data and AI based matchmaking
algorithm, payment management, integration, cross/upsell engine, CRM and marketing. SPOT (Single Point of Truth) acts as common platform for entire stakeholders like customers, business associates, internal employees and even financial institutions. The SPOT platform is integrated with paperless-focused features like blockchain based e-KYC, bank statement analysis, credit bureau check, credit memo generation & MCA integration etc. These features further allow real time decision making on the application.

Rubique's financial AI based recommendation platform is based on a unique proprietary algorithm

Rubique’s technology enabled distribution of Business Associates takes care of documentation collection and helps to provide end to end fulfilment services. Rubique has also developed a mobile app/SPOT which empowers these associates (like CAs, insurance advisors, financial consultants etc)to earn extra income and offer options across a wide range of financial institutions.

“The existing financial market place is still highly inefficient, time consuming & uncertain for customers as well as banks”, explains Manav. Due to varied risk appetites, FIs struggle to find the right fit of consumer profile managing turnaround time. This leads to the rejection rates soaring high in the loan ecosystem. Rather than limiting the usage of such advanced technology to ‘Lead Gen/Self-promoting model’, Manav developed the ‘Online PLUS’ model. This is built on a ‘phygital’ platform which incorporates the best of both the platforms- digital and physical. After witnessing the financial industry from different vantage points, Rubique’s stronghold, Manav built a foundation of team members from financial services and technology background. With this team, Rubique beheld a staggering growth in partnerships, 89+ financial institutions, 234+ products, 150+ digitized policies and over 40 deep integrations. Currently operating in 62 cities, Rubique is on its way to becoming the leading online credit marketplaces in India.