Muthoot Fincorp announces the next phase of digital transformation with Nucleus FinnOne Neo

The lending transformation will help Muthoot Fincorp rapidly extend the availability of easy and affordable credit to the unbanked segment in the post-COVID-19 world, using the power of technology.

Aug 18, 2020 04:08 IST India Infoline News Service

Nucleus Software, the leading provider of lending and transaction banking solutions to the global financial services industry and Muthoot Fincorp Ltd., the flagship company of Muthoot Pappachan Group, today announced that Nucleus FinnOne Neo will power digital lending transformation at India’s leading NBFC.

As a part of its on-going group-wide digital transformation initiative, Digital Blue, Muthoot Fincorp wanted to set the growth agenda for the next decade with customer-centric, agile and data-driven approach supported by advanced technology. The company chose Nucleus Software’s market-leading digital lending platform, FinnOne Neo to implement future-ready business processes, which can drastically bring down the time to market with innovative products, reduce the cost of operations and offer unmatched digital customer experience. Deployed in the Cloud, FinnOne Neo will enhance credit risk management with comprehensive data-driven credit decision making, provide business agility to react swiftly to the evolving business needs and speed-up processes across the loan lifecycle. The lending transformation will help Muthoot Fincorp rapidly extend availability of easy and affordable credit to the unbanked segment in the post COVID-19 world, using the power of technology.

Thomas John Muthoot (Chairman and Managing Director, Muthoot Pappachan Group) stated, “COVID-19 is going to change the way we do business and how we function. We know that technology will be critical to help us address the challenges, and that’s why we chosen FinnOne Neo from Nucleus Software. We were impressed with the solution’s sophisticated digital capabilities and the way it is helping deepen our understanding of customers’ banking needs. This solution will enable us to drive innovation into our operations, support our continuous growth and enable us to provide our customers a complete digital experience. This is the next step of Muthoot’s Digital Blue initiative, a program designed to deliver an end-to-end digital transformation of our business”.

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