Pepper Advantage, a global credit intelligence company, has acquired Rieom.ai, an AI-driven credit management software platform in Pune, India. The acquisition expands Pepper Advantage’s market in India and paves the way for their AI-driven credit model in high-growth countries.
Rieom.ai offers a predictive pre-payout credit approval tool that assesses loan application documents using AI/ML-driven analysis. It identifies fraud risks and suspicious behaviour, supporting credit risk assessment for over 60 document types.
With scalable integration via API, Rieom.ai’s platform enhances credit management systems by evaluating loan applications and portfolio risk holistically. It includes automated transaction monitoring and surpasses manual processes prevalent in India’s financial services sector.
As a first-mover in the market, Rieom.ai has processed over 2.3 million documents and is poised for continued growth, serving fintechs, microfinance companies, small finance businesses, co-operative banks, insurance, and government institutions.
Pepper Advantage’s acquisition of Rieom.ai signifies their aggressive expansion in India and their intent to introduce the AI-driven credit model in markets like Indonesia, Vietnam, and the Middle East. It also offers product development opportunities by integrating Rieom.ai’s technology into Pepper Advantage’s credit platform.
Fraser Gemmell, CEO, Pepper Advantage, expresses enthusiasm for the acquisition, highlighting the need for credit risk analysis and enhanced data capabilities. The aim is to cater to traditional loan originators and the fast-growing non-bank lending sector, providing plug-and-play solutions.
Mukund Kulkarni, CEO, Pepper Advantage India, emphasises India’s demographic-driven macroeconomic growth and the expanding credit and financial services markets. By leveraging Pepper Advantage’s technology, financial inclusion can be achieved by assessing creditworthiness without relying solely on credit scores.