Monday, March 22, 2021

IRM India Signs MoU With Eduvanz For Knowledge Partnership To Strengthen Indian ERM Ecosystem

* Both organisations to collaborate on a range of knowledge exchange platforms

India Affiliate of Institute of Risk Management (IRM India), the world’s leading professional body for Enterprise Risk Management (ERM) qualifications, has announced a comprehensive and far-reaching knowledge partnership with Eduvanz, one of India’s leading NBFCs that enables students to Study Now, Pay Later at 0% interest rates. The organisations will collaborate on a range of thought leadership initiatives, including research papers, webinars, industry insights, and opinions and analyses, among others for driving the importance of Enterprise Risk Management in the Non-Banking Financial Sector.

Discussing the agreement, Mr. Hersh Shah, CEO, India Affiliate of Institute of Risk Management, said, “As we continue to rebuild our economy nearly a year after the pandemic lockdown, it is critical for Indian industry to retrospect and incorporate learnings from 2020, to secure businesses against future crises. Enterprise Risk Management provides a robust, strategic road map to empower organisations to achieve this. At IRM India, it is our mission to propagate this knowledge, and ensure that our nation can combat similar challenges successfully, going forward. As the globally-preferred professional body for ERM qualifications, we hope to make an impact at the grassroot levels, and this partnership with Eduvanz will go a long way towards bolstering our efforts to build a greater understanding of Enterprise Risk Management in the NBFC sector, and to educate industry leaders and students about the business value of managing risk in a holistic way.”

Speaking about their partnership, Mr Sukesh Tandon, Chief Risk Officer - Eduvanz, further added, “As a young company, Eduvanz has always given prominence to risk management practices. Our strategy to focus on holistic enterprise risk management proved itself when we were able to sail through the initial days of the pandemic with minimal impact on our operations. Where large banks were forced to slow down, we switched to work-from-home without a hitch, and continued with our lending operations. Over the years, we have also seen risk management evolving in the Fintech sector, from the crisis in 2019 when banks ceased lending to NBFCs, to the current practice of risk-sharing with Fintechs and NBFCs. 

Post-COVID, maintaining seamless business operations is a bigger challenge for organisations over growth or profitability. In the coming days, holistic risk practices will be the core of all business strategies for organizations, whether large or small. The agility and adaptability to the ever-changing environment will determine the success or failure of enterprises in the coming days. 

By partnering with a leading global enterprise risk management body like IRM, we hope to create a wider awareness of ERM practices in the industry and among students.” 

IRM India and Eduvanz will collaborate on different platforms to spread awareness about ERM. This will include webinars, panel discussions and other events, research, white papers and analyses, and industry insights and experiences, all of which will enable Indian industry to adopt ERM seamlessly and efficiently, and make informed decisions while managing risk. Under the partnership, Level 1 and level 2 qualified IRM India students will also have access to opportunities of working at Eduvanz, including availing zero-cost student loans.

About India Affiliate of Institute of Risk Management (IRM India)

Headquartered in the UK, the Institute of Risk Management (IRM) is the world's leading professional body for Enterprise Risk Management (ERM) qualifications. IRM has been driving excellence for over 30 years with members across 143 countries. With 360 exam centres in India, candidates can join a professional community of risk leaders by pursuing IRM’s 5-level qualifications with designations that are globally recognized. IRM qualified students and members are working with companies across the globe including Acies Consulting, Swiss Re, Morgan Stanley, HSBC, PwC, EY, Deloitte, Barclays Bank, ANZ Bank, Mastercard, HSBC, IFC - World Bank Group, AIG, BBC and many other organisations.

About Eduvanz

Eduvanz is an NBFC Fintech that enables learners to Study Now and Pay Later in small easy on the pocket instalments. The core objective of the company is to make education accessible to all learners across K-12, Test-Prep, and Upskilling & UG/PG segments. Eduvanz offers a point of sales payment solution for institutes that helps them provide instant finance thereby helping them boost enrolments. They use proprietary artificial intelligence (AI) based algorithms and predictive analytics to provide loans based on the future employability of learners. Using the mobile app, end-to-end processing from Loan Application to Credit Assessment to Disbursal happens completely online in a matter of a few hours.

Backed by Sequoia Capital and Unitus Ventures, the company was co-founded in 2016 by Varun Chopra, an IIT Madras alumnus, and Raheel Shah, an IIM Ahmedabad alumnus, Eduvanz has financially empowered over 20,000 learners and partnered with 350+ Institutes. They have a presence across 20 states, 240+ cities, and cover over 25+ skill industries. Achievements include winning Wharton 2018 Economic Start-up India Competition, selection by Oracle as part of their Accelerator Cohort, part of the Champions of Change organized by Niti Aayog and PMO, and among Top 13 startups of Maharashtra Fintech.

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