i-Lend appoints BalaRamakrishnan Tanjore as Chief Technology Officer.

i-Lend announces the appointment of Mr. BalaRamakrishnan Tanjore as Chief Technology Officer of the company effective from June 8th 2017. Mr. BalaRamakrishnan Tanjore is a seasoned technology professional with over 15 years of experience in BFSI, healthcare, retail and has held leadership roles across R&D, delivery and programme management in companies like Apple, Savant, Bank of America, Chase Manhattan, Tesco among others. He co-founded a mobile social gaming company named Mobile Experts Group in early stages of his career which was acquired in 2009.

New Delhi, Delhi, June 12, 2017 /India PRwire/ --

i-Lend announces the appointment of Mr. BalaRamakrishnan Tanjore as Chief Technology Officer of the company effective from June 8th 2017.

The announcement comes in line with company's aim to strengthen its foundation and expand to newer marketplaces. P2P lending/borrowing is today one of the most emerging marketplaces in the fintech space in India.

Mr. BalaRamakrishnan Tanjore is a seasoned technology professional with over 15 years of experience in BFSI, healthcare, retail and has held leadership roles across R&D, delivery and programme management in companies like Apple, Savant, Bank of America, Chase Manhattan, Tesco among others. He co-founded a mobile social gaming company named Mobile Experts Group in early stages of his career which was acquired in 2009.

B.Tech (Electronics & Communications) from Guindy Engineering College and Master's Degree in Artificial Intelligence & Machine Learning from Dalarna University, Sweden, his main area of expertise include Big data Analytics, Natural Language Processing, Machine Learning, Enterprise Mobile Application Development, IoT, Cloud Infrastructure and Techno-commercial areas. He is also an enterprise mobility expert with years of continuous experience in the Internet of Things (IoT)/Machine-to-Machine (M2M) industry and its entire vertical and has demonstrated excellence in planning and executing go-to-market strategies.

His core competence lies in driving complex sales of digital and mobile services to global enterprise customers including communications service providers and he is adept at driving teams, driving customer relationships, managing stakeholders including senior leadership and channel partners and collaborating with cross-functional resources.

On his appointment Mr. Tanjore said, "I am very glad and look forward to working with the entire i-Lend team to build a solid IT infrastructure that will help us to strengthen and create a competitive advantage for i-Lend in the marketplace."

Speaking on the occasion, Mr. Shankara Vaddadi, Founder & Director, i-Lend said, "We are extremely delighted to have Mr. Tanjore on board. He is undoubtedly one of the best available talents in the country today when it comes to Data analytics, enterprise mobile application development etc. We are sure that his contributions would help us immensely to build a stronger mechanism to counter the new challenges and take our organization to greater heights."

Notes to Editor

About i-Lend (www.i-lend.in)

i-Lend, India's leading P2P marketplace player which pioneered the sector in India was established in Hyderabad in the year 2013. Being the first such platform, i-lend faced several challenges in establishing itself initially and were at the forefront of engaging the regulators and other stakeholders to recognise this sector and work towards regulating the same. This bore fruit and RBI is expected to announce the guidelines for P2P companies very soon.

As a first entrant, i-lend quickly realised that doing business like a bank or NBFC won't work out in the long run and hence it went for building a totally online verification, KYC and credit decision making process which is paying dividends now as the company is planning to scale across other cities. i-lend's verification process including registration of borrowers and lenders on its platform is completely automated and done online thereby eliminating the need for using outsourced agencies for verification, document collection KYC etc. Presently operating in just two cities, i-lend is firming up plans to open up a few more cities in the next two months and feels it will have an edge over other players because of its cost structure and the integrity it has built in its processes. i-lend has less than 0.5% default rate on its platform and with Rs.3.5 cr disbursed in just two cities, it could be the best performing P2P business in India.

i-lend today has automated the entire process end-to-end starting from verification to agreement signing and uses E-signature as well to ensure that users have a seamless experience on its platform, with over 12000 people registered both borrowers and lenders. i-lend is making plans to expand across different cities and in the first phase the company is planning to be in Bangalore, Mumbai, Delhi and Pune apart from the cities it is presently operating. i-lend's credit decision making includes giving weightage to conventional metrics as well as giving adequate weightage to qualitative parameters and social behaviours which helps in rating people more from a predictive perspective rather than a reactive way that most financial institutions tend to do which to some extent might explain the low defaults. i-lend also offers collection services to its lenders and that to a large extent helps in increasing lender's confidence in the platform. Starting from post disbursement monitoring to regular follow-ups and finally in case of a default filing recovery proceedings under relevant legal sections, are all done through i-lend approved collection agencies thereby providing an end-to-end seamless loaning experience to lenders on the platform.

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