Datasigns Technologies, which operates lending platform Shubh Loans, has appointed Venkatesh Madyastha as its chief data scientist.
Madyastha aims to help the company solve complex issues in real-time using advanced algorithms and drive the innovation of Shubh Loans products using data-driven analysis, the Bengaluru-based company said in a statement.
“At Shubh Loans, my role is to use the power of data combined with existing scorecards to address the financial needs of a section of the society who are oftentimes excluded from the conventional banking sector,” Madyastha said.
With over 13 years of experience in research and data analysis, Madyastha has held senior roles at Shell Technology Centre, General Electric, CSIR-National Aerospace Laboratories and Bell helicopters in the past.
He has a bachelor of engineering degree from Bangalore University, has completed his masters in mechanical engineering from the University of Houston and holds a PhD in aerospace engineering from the Georgia Institute of Technology.
“We have set up a data science centre of excellence… (and) Venkatesh's domain expertise, (along) with academic excellence, will add tremendous value to this initiative,” Monish Anand, founder and CEO, Shubh Loans, said.
Founded in 2015, Shubh Loans is a digital lending platform that offers credit-based medical, education and personal loans for individuals and businesses. It competes with MoneyTap, PerkFiance, CreditSeva and CreditSudhaar in this segment.
In October last year, Shubh Loans raised $4.8 million in the Series A funding round led by Mumbai-based Omidyar Network India.