Quote on GST from CoinTribe

Posted by: at 6/30/2017 01:23:00 am

"“GST is a significant milestone in our journey towards a digitally networked One India- One tax Vision. From a macro-economic impact, GST should have a transformational impact on GDP-tax ratio and enable efficient businesses to transcend state boundaries and also compete in states which till now had high indirect taxes. This will lead to emergence of bigger and more efficient businesses improving the overall health of industries. In the context of Online lending, industry will benefit from the online availability of GST data to assess business health and associated risks, enabling Online lenders to make better and faster lending decisions and driving flow of efficient capital to deserving businesses and heathy growth of Online lenders as well in the long run.” said Mr. Amit Sachdev- CEO & CO-Founder, CoinTribe Technologies Pvt. Ltd.


Amit Sachdev
Co-founder and CEO, CoinTribe
“Adapt and stay hungry to win”
Amit Sachdev is the Co-founder and Chief Executive Officer of CoinTribe, the leading online loan disbursement platform. With his innate business acumen, clear vision, and innovation-driven approach, Amit aims to revolutionize the lending processes in India, make it completely technology-driven and enable CoinTribe to emerge as the largest online lending marketplace of our country. His alma maters include IIT Varanasi as well as IIM Lucknow and has served prestigious Boston Consulting Group as  a Principal. Amit’s personal motto is “Adapt and stay hungry to win”.
He has worked closely with several prominent financial institutions and has assisted them with new business build, strategic planning, design and execution of transformation agenda, digital agenda, product-growth strategy, risk management, and many more key business problems. Amit’s expertise in the field has also been tapped by upcoming banks and he has played a pivotal role in framing their banking application, competitive strategy, bank set-up plan.
Amit believes that the innovation-driven industry that CoinTribe operates in requires constant churning of new ideas within the organization and efficient execution of the same. Considering passionate workforce a prime driver, he has put together a team with the best and brightest minds in various leadership positions ensuring that they are well-aligned with CoinTribe’s core values.
With rapid adoption of technology across the country and increased business activity across all verticals, Amit targets loan disbursements worth USD 5 billion within a span of five years through CoinTribe. Under his aegis, the company is expected to become profitable within two years.
Amit also is an avid sportsperson and counts cricket, lawn tennis, and badminton as his favorite ways to pass leisure time.

CoinTribe
Company Profile

CoinTribe is a leading online loan disbursement platform that provides quick and easy collateral-free loans to small businesses and individuals. It is the only online lending platform which has back-tested its credit model with large banks. CoinTribe exercises an entirely digital loan assessment and ‘decision’ing process, requires minimal paperwork as well as documentation and involves no application cost for loan delivery through its platform.

Incepted in May 2015, CoinTribe has developed a high degree of trust and confidence amongst banks and NBFCs for its quick and precise credit assessment and risk analysis mechanisms. The company’s cutting-edge technological services are now actively being tapped by them using two models; the marketplace model and the platform-as-a-service (PaaS) model. The marketplace model facilitates loan origination and credit assessment through CoinTribe before it is shared with the banks. PaaS enables banks and NBFCs to utilize CoinTribe’s platform for effective risk analysis and recommendations to digitally underwrite their own consumers. CoinTribe’s PaaS is equipping lenders across the country to become digital ready and enhance efficiency of their lending process.
CoinTribe has multiple first-of-its-kind innovations to its credit. It has for long been leveraging e-Aadhaar, e-signature, and digitization of scanned bank statements and construction of month on month P&L from banks statements to provide a seamless consumer experience. CoinTribe has a team of more than 60 passionate professionals with extensive experience in the field of banking, consulting and technology. Moreover, the company operates on a low-risk and highly scalable business model. Its credit algorithm generates results that match the decisions of financial institutions at a rate of 80 to 85 percent.

The team believes that going forward banks and NBFCs will move to a scorecard based decision-making mechanism for small ticket loans – across small businesses and individual borrowers with greater alacrity. It is also confident about the adoption of digital in the SME segment especially as younger generations enter the domain. With increasing digital adoption in the country and expansion of the MSME sector, CoinTribe aims to facilitate USD 5 billion of loans through its platform over a period of 5 years and is rapidly scaling up its marketplace operations. 


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