Empowering SMEs: How Technology Is Reshaping The Digital Lending Space
Sandeep Anandampillai, Founder & CPO, Crediwatch
In his two decades long career, Sandeep has worked with Diamond Services, Nous Infosystems, Oracle Corporation, ThoughtWorks and Schneider Electric, and even founded two companies Minoty Solutions and Crediwatch.
The last decade has seen rapid technological advancements, mostly driven by the internet and smartphones. The influx of sophisticated technologies such as artificial intelligence, machine learning, IoT and Big Data is further drivingthe digital journey. This in turn has resulted in a proliferation of data. According to industry estimates, 2.5 quintillion bytes of data are created every day and the pace is accelerating. International Data Corporation's (IDC) projections suggest that the global datasphere will grow from 33 zettabytes in 2018 to 175 zettabytes by 2025 (1 zettabyte is equivalent to a trillion gigabytes). The data explosion has benefitted segments of the population and several industries that previously didn’t have access to formal credit, thereby boosting financial inclusion across India.