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IoT player Aeris’ Asset Assurance Platform helps in credit fault detection

Aeris Communications, a leading Internet of Things (IoT) technology partner for enterprises, has launched  ‘Aeris Asset Assurance Platform’, first-of-its-kind comprehensive asset protection and repossession IoT platform for the auto financing and lending companies as well as enterprises using third party fleet services for their logistics and distribution.

The platform claims to proactively detect credit default, improve business profitability by reducing repossession and redeployment cost-related losses and also helps boost customer management.

The overall commercial vehicle market has seen robust growth over the past two years – 20% in FY 2018 and 18% in FY 2019 – making India the world’s third-largest and fastest-growing commercial vehicles market, globally. But, the repossession losses for commercial vehicles have been very high. Given the secured nature of lending, asset repossession becomes an important consideration for financers in the automotive sector.

 Rishi Bhatnagar, President, Aeris India said in a statement that “It’s no secret that IoT is driving tectonic shifts in the Indian business ecosystem. At Aeris, we have always worked towards expanding the spectrum of IoT adopters. Today, more than 50,000 connected devices from India are managed on Aeris IoT platform.  Aeris Asset Assurance Platform has already onboarded and servicing leading OEMS, auto financing, leasing, and insurance companies as our clients in India, Africa & the APAC region. The platform is delivering benefits incomplete asset protection and repossession to more than a dozen of our clients, proving our capability to deliver comprehensive and distinct IoT solutions for the BFSI sector.”

Aeris has been strategically focusing on the Asian BFSI sector since its inception in India. Working closely with more than a dozen clients in multiple regions as their technology partners, we identified the problem of huge credit defaults on heavy and light commercial vehicles for the financers as a major concern area, the statement added.

With clients present in India, Indonesia, Vietnam, and Africa, Aeris Asset Assurance Platform is helping them in proactive credit default detection, reducing repossession costs related losses, improving business profitability and enhancing service experience with 24×7, multilingual service support by Aeris.

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