South Indian Bank adopts digital solution for retail lending
The solution will help the bank completely digitize its retail lending process with end to end digital on-boarding, data driven decision making and an integrated landscape, leveraging financial tech and third-party data sources, digital channels of distribution, digitized credit policy, etc.
Nucleus Software, a provider of lending and transaction banking products to the global financial services industry, announced that it will empower South Indian Bank, a Kerala based leading Private Sector Bank in South India, by providing the best in class digital solution offering to revamp the bank’s current retail lending landscape.
“South Indian Bank has always been the numero uno when it comes to customer centric options. With the digitization of the lending process, we will be able to unlock the value that the bank has to offer to the market. As part of our business transformation initiative, we are leveraging technology to focus on areas of MSME & Retail Loans. With Nucleus Software’s expertise, we will be able to diversify the asset portfolio and increase penetration in retail lending in the most efficient manner”, says Murali Ramakrishnan, MD & CEO, South Indian Bank Limited.
“Nucleus Software is happy to be associated with one of the foremost private banks in the South of India. South Indian Bank is known for its innovation and we are happy to provide them with the technology platform that will make them move their retail lending requirements to a seamless digital offering that is customer friendly, resilient, safe and very efficient”, says Mr. Parag Bhise, CEO, Nucleus Software.
With FinnOne Neo, the bank can focus on launching products such as Home Loans, Loan Against Property (LAP), Loan Against Securities(LAS) and Personal loans with digital first approach followed by various other retail products. The solution will help the bank completely digitize its retail lending process with end to end digital on-boarding, data driven decision making and an integrated landscape, leveraging financial tech and third-party data sources, digital channels of distribution, digitized credit policy, etc.
In addition, FinnOne Neo will help South Indian Bank to stay ahead of the curve by empowering it with cutting-edge technology. The solution will help the bank utiliseAPIs to integrate with third party solutions which will help speed up digitization of credit decisions of small ticket loans.
FinnOne Neo is the next-generation lending solution built on an advanced technology platform, designed to shape the future of lending across Retail and Corporate sectors. The solution also helps comprehensive loan servicing and sophisticated delinquency management. FinnOne Neo has been designed to meet the challenges of delivering agile and efficient solutions while reducing the cost of operations. With implementations across 50 countries, FinnOne has been recognized as the world’s best-selling lending solution for over 10 years.
