Ignosis AI automates collections for 5L borrowers in India
Business
Ignosis AI, founded in 2022 by Nirav Prajapati and Chintan Sheth, is shaking up India's finance world with smart, AI-driven debt collection.
Their tech handles up to 5 lakh borrowers every month, sorting out 70% to 80% of cases without humans stepping in.
Ignosis AI personalizes outreach, waives penalties
Their system doesn't just chase payments: it decides the best way to reach people and can even waive penalty fees when it makes sense.
Privacy is a big deal for them.
They've also started helping lenders assess small business credit risk using advanced models.
Sheth said they're seeing up to 40% better recovery rates and spending less on collections (pretty impressive for a young startup)!