Despite challenges, Krishnamurthy sees significant opportunities for Indian FinTech. (Express Image/FreePik)
“Indian fintech has very little tech debt. Maybe we are, to some extent, a late entrant, but we have had the chance to learn from the mistakes of other geographies, other countries, and be able to invent tech ground up in a cloud-native way, in most cases,” said Bharat Krishnamurthy, chief technology officer at Yubi, a company known to power the end-to-end debt lifecycle of organisations. At a time when financial technology is advancing rapidly, Yubi has emerged as a key player in the debt lifecycle management domain.
Krishnamurthy, in an interview with indianexpress.com, shared that Yubi has built a comprehensive technology infrastructure, which is supporting its expansion across nations and various market segments.
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The company’s lending marketplace encompasses multiple specialised platforms. “We have a loan marketplace primarily for corporate lending. We also do supply chain financing,” Krishnamurthy said. “The third one is called co-lending, where banks and NBFCs come together to lend in a pre-decided ratio.” Additionally, Yubi offers a “securiti-sation platform” called Yubi Pools and a digital lending platform for non-regulated entities.
Krishnamurthy revealed that at the heart of Yubi’s operations is a robust technology infrastructure which has been built on AWS services. The company has deployed its AI inferencing layer on Amazon EKS for scalability across the Yubi Group. “We leverage a lot of AWS services, including RDS, EC2, Kubernetes, for managing an entire tech stack,” noted Krishnamurthy. “We’ve also been using Amazon SageMaker. We have over 20 data science models running on SageMaker with a very high level of accuracy, upwards of 90 per cent.
One of the standout features of Yubi’s technology implementation is its use of generative AI through Amazon Bedrock. “We use a lot of Gen AI within Yubi. For example, particularly when it comes to corporate lending, we have an ‘about the company’ page available for a lender… that entire thing is powered by Bedrock,” Krishnamurthy explained.
Gen AI, security and trust
When asked about his views on security and trust, considering the company is operating in a highly regulated environment, the executive revealed that Yubi has been working with most of the banks in the country. “On our platform, there are 3000 plus lenders.” The company has implemented robust security measures across all layers of its technology stack, ensuring data segregation and appropriate access controls.
“We need to make sure that there is security at every layer where data is handled, right from the storage level to the database to the services to the models that are accessing the data,” emphasised Krishnamurthy. The company’s infrastructure supports both multi-tenant and single-tenant deployments on AWS, providing flexibility to meet various customer requirements.
Ever since the dawn of generative AI, more and more companies are embracing the technology for various operations. However, with fintech companies, responsible use of Gen AI technologies is vital to maintain trust, security, and compliance, especially being from a highly regulated industry.
Krishnamurthy revealed that Yubi’s approach to implementing AI solutions is measured and practical. “There is a very nuanced appreciation of use cases where Gen AI will work and where it may not work,” Krishnamurthy said. The company has implemented AI in various areas, including documentation generation, user support, and software development.
“We leverage Gen AI significantly towards software development itself,” said Krishnamurthy. “As the pace of change increases, we need to be able to turn it around and put those features into production as soon as possible.”
Talking about future outlook and expansion plans, the executive said that Yubi is focused on geographic expansion while maintaining technological innovation. However, he also acknowledged that this expansion presents significant technical challenges. “We need to deliver the same set of software across India, across all these geographies, be able to manage the entire software development using a single code base, and be able to deploy it on AWS multi-tenant, AWS single-tenant, or in some cases, even on premise as well,” Krishnamurthy explained.
Bijin Jose, an Assistant Editor at Indian Express Online in New Delhi, is a technology journalist with a portfolio spanning various prestigious publications. Starting as a citizen journalist with The Times of India in 2013, he transitioned through roles at India Today Digital and The Economic Times, before finding his niche at The Indian Express. With a BA in English from Maharaja Sayajirao University, Vadodara, and an MA in English Literature, Bijin's expertise extends from crime reporting to cultural features. With a keen interest in closely covering developments in artificial intelligence, Bijin provides nuanced perspectives on its implications for society and beyond. ... Read More
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