RevFin partners with Aeris for IoT-enabled Electric vehicles

New Delhi: RevFin, a digital consumer lending platform has entered into a strategic partnership with Aeris Communications, an Internet of Things (IoT) technology partner for enterprises to launch electronic vehicles embedded with IoT solutions

Over the next 4 years, RevFin will be investing $ 15 million in upcoming electronic vehicles powered by the Aeris Asset Assurance Platform.

Aeris has created an IoT ecosystem to empower organisations in optimising human intervention and attain real-time remote monitoring of machines, equipment, and other assets along with predictive and preventive maintenance of various products and assets within enterprises.

For electric vehicles, embedded IoT devices can augment four key areas. The first is improvement in driver performance by measuring driver behaviour like speed, acceleration, driving range and other such parameters and provide them real-time tips to improve their performance.

Real-time tracking, remote immobilization and geo-fencing keep vehicles safe from theft. This helps reduction in insurance premiums as well.

The third area of improvement is around vehicle standards. By looking at vehicle performance data, like range per charge, change in range per charge over a period of time, vehicle utilization, differences in performance based on geography, age, and, weather conditions, vehicle and battery OEMs can make effective changes to their products.

However, one of the biggest benefits of Aeris connected technology is early warning triggers for loan repayments.