EXL invests in Corridor Platforms – a big data credit risk management platformTuesday, February 27, 2018
Corridor Platforms combines extensive credit expertise and consumer behavior insights with advanced analytics
NEW YORK, February 27, 2018 – EXL (NASDAQ: EXLS), a leading Operations Management and Analytics company, today announced that it has acquired a minority stake in Corridor Platforms, Inc., a company launching a big data credit risk management platform to support real-time credit decisions throughout the customer lifecycle.
Corridor Platforms provides banks and financial services clients the ability to utilize detailed risk frameworks, a dynamic credit decisioning engine, and a fully integrated big data management layer fine-tuned to meet the compliance and regulatory needs of financial services companies. The platform enables clients to create and evaluate credit strategies, execute credit decisions in real time and at scale, track performance, and automate alerts to enforce a disciplined end-to-end credit decisioning process.
“This investment allows EXL to broaden our market-leading Analytics solutions by partnering with the Corridor Platforms team to develop and market a risk management platform tailored for credit risk managers and product owners at large and mid-sized banks,” said Rohit Kapoor, Vice Chairman and Chief Executive Officer, EXL. “Our investment and partnership with Corridor Platforms will enhance our suite of solutions for credit risk management and add to our leadership position in banking analytics. We look forward to working with the Corridor Platforms team to implement and support the risk management platform across banking and financial services clients. EXL has known and interacted with Manish for several years. He is an exceptional leader with deep cutting-edge analytical understanding and practical knowledge of applying credit risk management. His expertise will be a strong differentiator for Corridor Platforms as it markets to the rapidly growing and soon to be large digital lending space.” Mr. Rohit Kapoor has joined the Corridor Platforms board as a board member.
Manish Gupta, Founder and Chief Executive Officer, Corridor Platforms said, “In the new era of digital lending and fast decisioning, an automated credit decisioning engine that utilizes the latest advancements in analytics and big-data without compromising the discipline and care needed in any consumer facing business is going to be the key to future success. EXL, with its experience in helping financial services and banks, is an ideal partner for us. They clearly understand the changing credit environment and they will be instrumental in implementing the solution to enable clients to compete successfully in the evolving digital lending marketplace.”
Corridor Platforms was founded by a team with extensive credit management and analytics expertise led by Mr. Manish Gupta. Mr. Gupta was recently Executive Vice President, Global Head of Information Management and Advanced Decisioning at American Express. Prior to that, he spent many years as Chief Credit Officer of the American Express U.S. consumer and global commercial lending businesses.
About Corridor Platforms
Corridor Platforms is a proprietary risk management platform created by a team of highly seasoned credit professionals leveraging the most advanced analytics and big data capabilities. The core leadership team comprises of senior credit executives with decades of experience designing, underwriting, pricing and managing multi-billion dollar lending portfolios through multiple credit and recessionary cycles. Corridor Platforms is creating an automated and highly user-focused credit decisioning platform based on years of experience both in credit and advanced decisioning technologies. Corridor Platforms Inc. is majority owned by Corridor Funds LLC. (http://www.corridorfunds.com)
EXL (NASDAQ: EXLS) is a leading operations management and analytics company that helps businesses enhance growth and profitability in the face of relentless competition and continuous disruption. Using our proprietary award-winning Business EXLerator FrameworkTM, which integrates analytics, automation, benchmarking, BPO, consulting, industry best practices and technology platforms, EXL looks deeper to help companies improve global operations, enhance data-driven insights, increase customer satisfaction, and manage risk and compliance. EXL serves the insurance, healthcare, banking and financial services, utilities, travel, transportation and logistics industries. Headquartered in New York, New York, EXL has approximately 25,000 professionals in locations throughout the United States, Europe, Asia (primarily India and Philippines), Latin America, Australia and South Africa. For more information, visit www.exlservice.com.
Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to the EXL’s operations and business environment, all of which are difficult to predict and many of which are beyond EXL’s control. Forward-looking statements include information concerning EXL’s possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. These statements are based on assumptions that we have made in light of management’s experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although EXL believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect EXL’s actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors are discussed in more detail in EXL’s filings with the Securities and Exchange Commission, including EXL’s Annual Report on Form 10-K for the year ended December 31, 2015. These risks could cause actual results to differ materially from those implied by forward-looking statements in this release. You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect EXL. EXL has no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws.