Nucleus Software announced that it will empower South Indian Bank, a Kerala-based private sector bank in South India, by providing the best in class digital solution offering to revamp the bank’s current retail lending landscape.
“South Indian Bank has always been the numero uno when it comes to customer-centric options. With the digitization of the lending process, we will be able to unlock the value that the bank has to offer to the market. As part of our business transformation initiative, we are leveraging technology to focus on areas of MSME & Retail Loans. With Nucleus Software’s expertise, we will be able to diversify the asset portfolio and increase penetration in retail lending in the most efficient manner”, said Murali Ramakrishnan, MD & CEO, South Indian Bank Limited.
“Nucleus Software is happy to provide South Indian Bank Limited with the technology platform that will make them move their retail lending requirements to a seamless digital offering that is customer friendly, resilient, safe and very efficient”, said Parag Bhise, CEO, Nucleus Software.
With FinnOne Neo, the bank can focus on launching products such as home loans, Loan Against Property (LAP), Loan Against Securities(LAS) and personal loans with digital first approach followed by various other retail products. The solution will help the bank completely digitize its retail lending process with end to end digital on-boarding, data driven decision making and an integrated landscape, leveraging financial tech and third-party data sources, digital channels of distribution, digitized credit policy, etc.
In addition, FinnOne Neo will help South Indian Bank to stay ahead of the curve by empowering it with cutting-edge technology. The solution will help the bank utiliseAPIs to integrate with third party solutions which will help speed up digitization of credit decisions of small ticket loans.