Muthoot Fincorp has signed Nucleus Software for its Nucleus FinnOne Neo to power its digital lending transformation. The NBFC has recently launched a groupwide digital transformation initiative called Digital Blue, which is marking the growth agenda of the group for the next decade with customer centric, agile and data driven approach supported by advanced technology. The company said it chose Nucleus Software’s 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 world, using the power of technology. Thomas John Muthoot, Chairman and Managing Director, Muthoot Pappachan Group, said the group knew that technology will be critical to help it address the challenges, and that is why it has chosen FinnOne Neo from Nucleus Software. 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, he added.
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