Cholamandalam Investment & Finance Company goes live with co-lending solution from Nucleus

Cholamandalam Investment & Finance Company goes live with co-lending solution from Nucleus

Nov 10, 2020 04:11 IST capital market

Nucleus Software announced that Cholamandalam Investment and Finance Company (Chola), the financial services arm of the Murugappa Group, has successfully gone live with Nucleus Software?fs advanced co?]lending solution.

The co?]lending model is a great opportunity for banks and NBFCs to draw upon each other?fs strengths. Co?]lending will significantly bring down the cost of capital for Chola while helping partner banks to extend their reach to new customer segments, business areas and locations where Chola has a stronger presence. Chola has launched a new co?]lending business where the company is in the process of partnering with various banks to target higher value loan segments such as construction equipment finance and heavy commercial vehicle finance.

Chola chose co?]lending solution from Nucleus Software, relying on the technology powerhouse?fs banking domain expertise spanning 3 decades, successful track record of delivering on complex projects and focus on innovation. Chola has been a Nucleus customer for more than a decade with FinnOne, the award winning lending platform from Nucleus Software, powering the company?fs end?] to?]end retail loan lifecycle. The advanced co?]lending solution from Nucleus Software will help Chola process the co?]lending applications much faster, assess credit risk through a robust framework and ensure compliance to the regulatory requirements. The solution ensures seamless flow of information and eliminates the challenges posed by different business processes and diverse IT landscapes of multiple banks. With Nucleus?f solution, Chola will be able to scale their co?]lending business quickly across partners and other lines of business.

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