Muthoot Fincorp with Nucleus FinnOne Neo brings the next phase of Digital Transformation

By VARINDIA - 2020-08-19

Muthoot Fincorp with Nucleus FinnOne Neo brings the next phase of Digital Transformation

Nucleus Software and Muthoot Fincorp has 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 states, “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”.

 

 

Eugene Koshy, Chief Purpose Officer, Muthoot Pappachan Group, says, “We want to be the most trusted financial service provider, providing best-in-class services to our customers at their doorstep. The MSME market size of 60 million is the bulwark of Indian economy and contributes to about 30% of GDP. Addressing their credit gap has been a key focus area at Muthoot Fincorp through its deep understanding of the customer needs and challenges as they operate in a volatile eco system. In Nucleus Software, we have found a company that shares our vision and values with the cutting-edge technology focused on delivering outstanding experiences to customers”.

 

 

R P Singh, CEO, Nucleus Software, says, “Technology is transforming customers’ expectations while also enabling lenders to meet and exceed those expectations. Muthoot Fincorp is a visionary NBFC that understands the importance of sophisticated technologies in realizing these expectations. It is pleasure to work with progressive thinkers like them who converted the COVID-19 situation into an opportunity to kick off their technology transformation program. With FinnOne Neo’s advanced capabilities, Muthoot Fincorp will be able to completely digitize and automate the complex lending processes as required in an increasingly virtual world, accentuated by COVID-19.”


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