Nucleus Software will power digital lending transformation at leading non-banking finance company Muthoot Fincorp, the flagship company of Muthoot Pappachan Group.
Muthoot Fincorp said it wanted to set growth agenda for the next decade with customer-centric, agile and data-driven approach supported by advanced technology.
The lending transformation will help the company rapidly extend the availability of easy and affordable credit to the unbanked segment in the post-COVID-19 world by using the power of technology, it said on Tuesday.
"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," said Thomas John Muthoot, Chairman and Managing Director of Muthoot Pappachan Group.
Nucleus Software CEO R P Singh said the company will deploy its FinnOne Neo software solution to completely digitise and automate complex lending processes as required in an increasingly virtual world.
The software major is the leading provider of lending and transaction banking products to the global financial services industry.
Its solutions power operations of more than 150 compes in 50 countries, supporting retail banking, corporate banking, cash management, internet banking, automotive finance and other business areas.
( With inputs from ANI )