Nucleus Software to provide Digital Transformation services to Muthoot Fincorp

Nucleus Software

Nucleus Software has now announced that it will provide the digital transformation services to the non-banking financial company (NBFC), Muthoot Fincorp.

Muthoot Fincorp is a retail loan provider, which is a subsidiary of the 1887-founded Thiruvananthapuram based Muthoot Pappachan Group, which operates more than 4000 offices.

Muthoot Fincorp has selected Nucleus Software’s cloud deployed FinnOne Neo to implement future-ready business processes. This will reduce time to market with innovative products, reduce the cost of operations, and offer unmatched digital customer experience to Muthoot's customers, notes the announcement.

Executive Opinion

Thomas John Muthoot, Chairman and Managing Director, Muthoot Pappachan Group, said, "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."

R P Singh, CEO, Nucleus Software, said, "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 a 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."

Muthoot Fincorp's Digitization

The Muthoot Fincorp expects the cloud-deployed solution to use data-driven approach decision-making solutions to improve its credit risk part and scale its loan lifecycle processes.

The cloud lending solution, FinnOne Neo, is a multi-channel end to end offering, which helps to digitize the loan lifecycle process – from initial contact with customers to make better credit decisions faster to providing a comprehensive loan servicing and delinquency management solution.

The collaboration forms part of Muthoot’s ongoing digital transformation initiative, Digital Blue, notes the announcement.
PC: Pablo, Pixabay

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Udit Agarwal is a Digital Marketer and a Content Marketing Specialist, He enjoys technical as well as non-technical writing. His passion and urge for gaining new insights on gadgets, smartphones and technology has led him to Techsutram. He quenches his thirst for technology through his action oriented writing skills and a profound ability to stay up to date with latest industry trends.

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