3 Indian companies revolutionising the lending landscape

By Leandra Monteiro

Loan origination software(LOS) and Loan management software(LMS) have revolutionised the lending landscape across the globe, enabling financial institutions to streamline their operations, enhance efficiency, and deliver superior customer experiences. These software solutions have emerged as powerful tools that automate and optimise the loan origination and management processes, enabling lenders to make informed decisions, reduce risk, and accelerate loan processing.

Loan origination software focuses on the initial stages of the loan process, encompassing Pre-Qualification Process, Loan Application, Application Processing, Underwriting Process, Credit Decision, Quality Check, Loan Funding. It enables lenders to streamline the origination workflow, automate credit decisioning, and reduce the time and effort required to process loan applications. These software solutions leverage advanced data analytics, credit scoring models, and integration capabilities to enhance efficiency and improve lending decisions.

On the other hand, Loan management software provides end-to-end functionality to manage the entire lifecycle of a loan, from origination to closure. It encompasses various features, including borrower information management, loan underwriting, document management, payment processing, and collections. These software solutions help lenders automate manual processes, ensure regulatory compliance, and gain comprehensive visibility into their loan portfolios.

The lending market is rapidly evolving and becoming increasingly digitised which has led to loan origination softwares and loan management softwares gaining significant traction. Financial institutions, including banks, non-banking financial companies (NBFCs), and FinTech companies, are adopting these solutions to enhance operational efficiency, improve risk management, and deliver seamless borrower experiences.

Here are 3 software solutions empowering financial institutions to navigate the dynamic and fast-paced lending landscape:

• Veefin

Veefin is a global leader in Digital Supply Chain Finance. It was founded in 2018 by Co-founders Raja Debnath and Gautam Udani, the technology company is based in Mumbai, India.

The start-up is reimagining Supply Chain Finance and Digital Lending through innovative, agile and scalable technology. Veefin builds white-labeled Supply Chain Finance and Lending solutions including end-to-end Lending Stack, Smart Credit.

Decisioning, Business Intelligence, Analytics and Omni-channel Onboarding for Banks, Financial Institutions, Fintechs, B2B marketplaces, and Corporates.

Veefin has customers in India, Africa, Saudi Arabia, Vietnam, Bangladesh and Bahrain. The tech company has partnered with Banking & Fintech Leaders in 20+ countries to further expand its reach with a theme of ‘Think Global. Act Local.’

• Newgen Software

Newgen is a provider of a unified digital transformation platform with native process automation, content services, communication management, and AI/ML capabilities. Globally, successful enterprises rely on Newgen’s low code application platform to develop and deploy complex, content-driven, and customer-engaging business applications on the cloud. From onboarding to service requests, lending to underwriting, and for many more use cases across industries, Newgen unlocks simple with speed and agility.

• Nucleus Software

Nucleus Software is provider of lending and transaction banking solutions to the global financial services industry. Its software powers the operations of more than 200 financial institutions in 50 countries, supporting retail banking, corporate banking, cash management, internet banking, automotive finance & other business areas.

FinnOne Neo™ – End-to-End Loan Lifecycle Management– A comprehensive product suite built to digitize the lending operations of the global banking and financial services industry. FinnOne Neo is an agile and customer-centric platform capable of servicing the entire loan cycle.

Nucleus Software’s Lending Mobility Solutions enable the user to perform paperless data sourcing, revert back with application statuses, submit field investigation responses, collect upfront payments and compute repayment related calculations. The applications are based on robust platform with effective integration of security and technological aspects to cater to stringent requirements of financial institutions.

Nucleus Software also offers solutions to customers in the areas of Managed Infrastructure services and Application Development & Maintenance.

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