Finance Company Ltd on Tuesday said it has implemented advanced
lending solution offered by
Software, a leading provider of transaction banking solutions.
The solution would help
Cholamandalam process the
lending applications much faster, assess credit risk through a robust framework and ensure compliance
with regulatory requirements, a company statement said.
lending would significantly bring down the cost of capital for Chola while helping partner banks reach to new customer segments.
Finance Company, executive director, Ravindra Kundu said:”
lending is a new direction for Chola but we are confident that this will soon evolve into a very fruitful partnership model for banks and NBFCs.”
Software has been our trusted
technology partner and their domain expertise ensured that we could roll out the
lending business quickly,” he added.
Software Global head core business, Anurag Bhatia said, “Chola enjoys a unique position in the industry today due to its strong focus on always putting customers first and reliance on an inherent value system.”