Rubique 2.0 lays out 100 cr. monthly revenue
Rubique 2.0 lays out 100 cr. monthly revenue

Rubique 2.0 lays out 100 cr. monthly revenue roadmap for 2021

ANI | Updated: May 03, 2018 18:07 IST

Bengaluru (Karnataka) [India], May 03 (ANI): Setting an example on how grassroot level innovation propelled by disruptive technologies in the traditional banking space can simplify complex financial procedures for the entire nation, Rubique Technologies Pvt Ltd, online financial matchmaking platform on Thursday announced the start of its new journey with Rubique 2.0; unveiling its new brand identity.

Currently, clocking USD 7.2 million (Rs 47 crore) revenue in March 2018, with a monthly revenue of Rs. 3.5 crore, the company aims to reach Rs 100 crore month on month revenue by 2021 and plans to breakeven by 2019.

Laying out its 2.0 vision, as initial steps, Rubique will sharpen its focus on creating a robust technology based financial ecosystem in the markets, earlier untouched by fintech and further strengthen its technological and analytics capabilities to expand its credit product offerings to deepen its reach to small enterprises and underserved micro enterprises.

As a part of its ambitious growth targets, the company has planned to heavily invest in newer products and partnerships under its insurance segments, and further expand its product distribution into 100 more cities in India this year.

Bringing alive its renewed brand identity, Rubique Technology has unveiled its new logo which enshrines its core values and mission statement, to fulfil every financial aspiration in the simplest, shortest and speediest way possible.

The new logo represents the three pillars of the company - financial institutions (FIs), customers and influences : integrating deep technology and domain expertise, applying insights from across industries, and consistently delivering world-class integrated, end-to-end solutions for all financial services.

It also highlights Rubique's strong technology heritage, signifying a higher level of engagement and brand permission that helps all stakeholders leverage its technology expertise to address their business and financial requirements and drive future opportunities in this digital era.

"Almost around four years back we started a journey with a vision to disrupt Indian banking sector with cutting edge technology and frugal innovation to simplify finances for individual and MSMEs. We stumbled, learned and grown into one of the foremost success stories driving India's rapidly-growing digital financial services sector," said Manav Jeet, MD and CEO, Rubique.

"We now introduce, the second leg of our journey, Rubique 2.0, leapfrogging into the future of banking with a renewed and re-imagined focus; delving deeper into newer and underserved markets with the power of technology enabled financial inclusion. Rubique2.0 encapsulates what we do and mean, for our partners - FIs, customers and business associates - and these values find expression in our new brand identity," he added.

In its constant endeavour to stay ahead of the technology innovation curve and bring a symbiotic relationship between traditional lending institutions and technology, the fintech major plans to develop technology products for the ecosystem to add push for digital adoption and facilitate new technologies into banking ex.

TAB solution facilitating finance for SME customers, alternate data based credit scoring mechanism to facilitate underwriting for first time borrowers using machine learning and big data analytics; create infrastructure to mitigate fraud with deepen security and data privacy and leverage alternate data, image recognition and video analytics on SPOT to automate data filling and verification thus making customer on boarding seamless and hassle free.

"The new brand identity marks our journey of transformation in the digital world. Our brand refresh signals an even closer engagement with customers, focusing on millennials with greater innovation in bringing advanced technologies to access deeper markets and ease credit access to the country and focus on entire ecosystem growth working as a collaborator," said Sheetal Mayekar, Founding Member and Strategic and Commercial Intelligence.

With constantly innovating and evolving industry, the futuristic technologies such as Blockchain, Big Data and Artificial Intelligence (AI) used by Rubique analyses multiple data points to assess the creditworthiness of the customers and provide them the offers they are eligible for, thereby removing the manual efforts in the loan processing system.

"The digital access to finance will continue to massively impact all individuals and businesses in the country. Undoubtedly technology will play a vital role in uplifting the Indian economy over the next five years, and therefore Rubique has taken a holistic approach to introduce tech intervention at all possible touch points. Implementation of disruptive technologies blockchain. Smart KYC and paperless loan process is nothing but one step towards creating a unified flow of information to make the transactions simpler, and reduce the processing time for customers," said Suraj Agarwal, CTO, Rubique. (ANI)