David Pieris invests Rs.100 mn in digital solution joint venture

David Pieris Holdings and Avonet Technologies announced the launch of a new joint venture which will power Affiniti FinTech Solutions where David Pieris Holdings is investing Rs. 100 million to accelerate Affiniti’s global expansion.

Affiniti is a suite of Fintech solutions that digitally transforms end-to-end delinquency management and customer relationship management processes. Currently, Affiniti enables automation of collection and recoveries of BFSI, Telco, Utility and Public Sector institutions, minimizing the manual intervention by operational staff, while maximizing the efficiency of delinquency management.

Unique offerings of Affiniti are Early Warning Signals triggered Customer Hardship Management for customers with financial vulnerabilities, automated slippage detection and recovery action triggering with collection optimisation, machine learning empowered predictions, and cognitive conversational bot interactions with delinquent clients to track promises and recovery payment plans.

Affiniti is currently being used by many leading banks, non-bank financial institutions and telco establishments. Among them are Sampath Bank PLC, PABC Bank, HNB Finance PLC, HDFC Bank, CDB, LB Finance, Vallibel Finance and Dialog Axiata.

“With this JV our intention is to make Affiniti the World’s Number One Digital Recovery Platform by 2030, initially focusing on South Asia, and then taking on Asia Pac, Middle East and the African regions”, explained Rohana Dissanayake, Group Chairman and Managing Director of the David Pieris Group.

Thilina Kumarapathirana, Director/ CEO of Avonet Technologies said, “This collaboration is a significant achievement in our quest to make Affiniti a sought-after brand name for innovative software solutions internationally. The strengths of David Peiris Holdings will certainly enable us to concentrate on further improving our solutions and adding even more value to our clients.”