Avanse Financial Services (Avanse), an education finance company aims at 45 per cent growth in business for the financial year 2018-2019. The company also aims to achieve 50 per cent growth in disbursements from Delhi region. As of March 31, 2018, Avanse’s AUM stood at about Rs 2,200 crore. Avanse has recorded a CAGR of 157 per cent over the past 5 years, since its inception.
Amit Gainda, CEO, Avanse Financial Services said, “Since Avanse’s launch in Delhi in 2013, it has been a very exciting journey for us. Delhi has been an important market for Avanse owing to the increased demand for higher education and uptrend of new age courses. In the past year, Avanse recorded 70 per cent growth from Delhi region.
Higher education courses such MS and MBA are popular among Delhi students. US, Canada and New Zealand are the top preferred study destinations for students in Delhi. We are also witnessing a steady shift towards new age courses in vocational and skill development such as photography, image consulting, music etc. We are pioneering the trend of financing these courses. The Delhi market contributes about 20 per cent of Avanse’s total education loan disbursements in India.”
Avanse has transitioned from ‘collateral driven’ education loan to ‘student led approach’, whereby student academics, future employability potential and pedigree of the course; institute is taken into consideration for granting loan.
Elaborating on the higher education scenario in India and Avanse’s growth plans, Amit Gainda said, “In this favorable scenario, we are expecting a growth of 45% across India in the current year.
To meet this growth, we are enhancing our operational, digital and technological capabilities and processes with an aim to improve customer experience and enhance productivity through technology. Some of the key initiatives include straight through loan processing with automated score cards, artificial Intelligence allowing loans to ‘New to Credit’ customers allowing financial access and digitization of systems and processes.
Basis its deep domain expertise and robust credit underwriting skills, Avanse is pioneering the trend of financing new age and specialized courses such as vocational and skill development courses These courses have lately become very popular among students over the above the conventional medicine, IT, engineering and management courses.”
Avanse offers features including 100 per cent funding including course fee to living expense during the study period, instant and one day loan sanctions for select programs and universities and limitless education loan with responsible borrowing and lending practices. Avanse also provides customized product offerings to students with flexible repayment structure thereby minimizing their burden during the course duration.
source:-.india
