About the speaker
Lalit Mehta is the Co-founder & CEO at Decimal Technologies. Lalit has been in the industry for over a decade. He founded Decimal Technologies in 2009. This is the time when digitization in the BFSI sector was still in its nascent stages. And, people weren’t aware of the significant growth it will witness. Lalit and his team at Decimal were one of the early adopters of technology in the sector. And, were integral in helping institutions through their own journeys of becoming early digital adopters too. During an interaction with TheTechPod – “Authentication technologies play a significant role in Fintech,” says Lalit Mehta.
Lalit has built a path for Decimal where it can keep reinventing every few years and stay ahead of the curve. Decimal continues to innovate to make banking operations smoother and, in turn, customer experiences better. This is evident in their mantra of #DigitisingBFSI which became even more pertinent during the pandemic. As Decimal was at the forefront of meeting the rapid demands of digitization in the BFSI sector. They closed deals with financial institutions they’d been negotiating with for years, within months once the first lockdown hit.
About the company
Decimal Technologies is India’s #1 digital acquisition platform. Founded in 2009 by Lalit Mehta as an Enterprise Mobile Applicants development firm. So far, the company has activated 7 million + accounts, disbursed $100 million+ loans, managed 13 million+ leads and garnered 1 million+ application users. Currently, award-winning applications such as Kotak 811, AU Abhi and Aditya Birla Payments application, and banks such as IndusInd Bank, Deutsche Bank use solutions developed by the company.
Decimal is digitizing the lending business to make it more financially inclusive. They recently launched Saarathi – a digital lending marketplace. This, by utilizing AI/ML technologies, aims to tackle the challenges of loan frauds and defaults with detailed risk assessment. It makes the approval process 5X faster for customers and close the credit gap. Another major solution of theirs the Vahana Hub, which is an API marketplace. It addresses the banks’ common pain point of managing different API vendors. By standardizing all services that banks need for their onboarding and back-end portals on one platform.
In an interaction with Rohit Sardana, Lalit Mehta speaks about the future of fintech in India. Also, Rohit Sardana is the Editor-in-Chief at TheTechPod and Co-founder of IncubateIND. Let’s hear the complete podcast. And, also understand – “Authentication technologies play a significant role in Fintech – Lalit Mehta.”