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Becoming a Data First Company

Updated on: 14 Dec 2021 // 9 min read // #mmm news
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Banking Frontiers Magazine features MyMoneyMantra’s Growth & Tech Journey in its June 2021- Vol 2.0 edition. In a candid conversation with our Founder & Managing Director, the magazine highlights the growth story of MyMoneyMantra’s recommendation engine which is backed by robust technology infrastructure constituting AI, Data Analytics and Machine Learning for seamless customer experience. Over the last five years, the company has originated more than $5 billion worth of financial services products through its platform.

“Digital is a means to an end, not the end itself. Our marketplace aims to be malleable, ensuring successful transactions and long lasting relationships with our customers as well as partners. We are leveraging new age technologies like headless CMS for content, React JS & Node JS for user experience, microservices based backend architecture/ MongoDB and Oracle for Database, AWS services for data engineering and PowerBI amongst others. Customers can compare products across 100+ financial institutions and opt for the most suited one digitally. We plan to achieve Rs 5.3 billion in top-line by 2023. Our goal is to de-clutter the noise in the market and help consumers make informed financial decisions,” says Mr. Raj Khosla.

Highlights:

  • MMM has Served 7 million customers across 60 cities
  • 100+ banking partners
  • Active 65 APIs with leading Banks, NBFCs & Credit Bureaus
  • Leveraging tech to develop digital mortgage servicing with leading FIs
  • $870 million of credit originated in FY 19
  • 10x increase on broker channel in last FY
  • Recently acquired 2 financial marketplaces: Bengaluru-based Ascon & Hyderabad-based Shaster
  • Raised Rs1.04 billion ($15 million) from Netherlands-based IFSD BV & Vaalon Capital
  • Owns data lake comprising 40 million+ consumer base
  • Developed real time recommendation engine for pan India fulfilment
  • Cloud hosted CRM, B2B and Analytics platform
  • Facilitating informed decision-making for customers

Click on the Image Below for Magazine View