Muthoot Pappachan Group ties up with UST Global for Digital Transformation

Muthoot Blue, a conglomerate in the financial services industry, has now signed a partnership with the UST Global to transform its business digitally, reports Business World.

The digital transformation is named as 'Digital Blue'. The transformation is expected to help the Muthoot Pappachan Group to improve scalability, agile decision-making capability, increase productivity and cut costs, notes the announcement.

Executive Opinion

Business World report also noted a statement from Chairman and Managing Director, Muthoot Pappachan Group, Mr. Thomas John Muthoot, who said, "If the unbanked in India were to be a country, it would be the 7th largest country in the world. Real change in the lives of the people in the lower strata of the socio-economic pyramid comes with an improvement in their financial status, and hence, Financial Inclusion for more & more of the common man is at the core outcome for us at Muthoot Blue. Digitalization, which helps in detailed, sharp & intimate customer data, in agility, inefficiency, inflexibility and in customer service & experience, therefore, is a key strategic pillar for us. Accordingly, we went with one of the Global Leaders in the tech-business, UST Global, and am so very happy to announce the birth of Digital Blue."

In the same report, Chief Operating Officer, UST Global, Alexander Varghese, said, "UST Global and Muthoot Pappachan Group have a common mission – To Transform Lives. Muthoot has been touching and transforming lives of the common man by catering to their financial needs. UST Global is into transforming lives using cutting edge technology. When the power of transformation is enhanced with digital technology, the most benefitted is the common man. UST Global with extensive experience in digital transformation across the globe, is fully committed to Muthoot Pappachan Group in helping them to stay ahead in the highly competitive NFBCs market."

Muthoot Pappachan Group and UST Global agreement

UST Global will provide solutions, including the Gold Loan platforms, IT infrastructure, new loan management system, data warehouse, Customer Relationship Management, and Data Analytics.

Muthoot Blue, as of now, serves more than 100000 customers every day at 4200 fully owned branches via more than 26000 employees.

UST Global, just a few days back, has opened its first Infinity Lab in South East Asia and its third delivery center in Malaysia.

The digital solutions provider has also revealed that it will expand its new Singapore office and plans to hire more than 100 employees over the coming three years.