Nucleus Software, the BSE & NSE listed, India’s leading provider of robust digital lending and transaction banking solutions to the global financial services industry, announced winning the “Most Innovative Use of Process Automation: Most Innovative Project” Award by IBSi Global Fintech Innovation Awards 2023, for implementation of FinnOne Neo™ their cutting-edge digital lending platform that is composable and cloud agnostic, utilizing state-of-the-art implementation processes.
The FinnOne Neo™ Implementation project, marked by the deployment of modules such as FinnOne Neo™ Customer Acquisition System (CAS) for Retail, FinnOne Neo™ Loan Management System (LMS), FinnOne Neo™ Collateral Management System (CMS), and FinnOne Neo™ mCAS (mobility application) for Sourcing Verification, spans across diverse Lines of Businesses (LOBs) including Home Loan, Loan Against Property, and Personal Finance.
The award acknowledged the flawless implementation of the advanced functionalities of the FinnOne Neo™ digital lending platform, which spearheaded a revolutionary transformation in the loan application process. This transformation resulted in the delivery of an exceptionally smooth and user-centric experience for borrowers of Mahindra Rural Housing Finance Ltd.
The implementation has not only resulted in the optimization and streamlining of operational processes but has also ushered in a marked enhancement of the overall customer experience, concurrently achieving a pinnacle of operational excellence.
Shantanu Rege, MD & CEO of Mahindra Rural Housing Finance Ltd, said: “At Mahindra Rural Housing Finance, we are committed to embracing innovation for customer experience and satisfaction. With streamlined operations, intelligent risk management, and personalized services, we are poised to redefine the lending experience for our valued customers. This accomplishment reaffirms our dedication to enhancing business agility and fostering sustainable growth, seamlessly aligning with our goal of customer centricity. This award serves as a testament to the collective endeavors of Mahindra Rural Housing Finance and Nucleus Software, solidifying our joint commitment to innovative and deliver hyper personalized financial solutions.”
Parag Bhise, CEO of Nucleus Software, added “We are immensely pleased at our partnership with Mahindra Rural Housing Finance, where we actively champion their visionary advancements in digitization. The reception of this award serves as a powerful testament to our shared dedication to pioneering innovation and embracing a customer-centric ethos within the realm of lending solutions. This recognition serves as a catalyst, further igniting our enthusiasm to persist in our unwavering support for Mahindra Rural Housing Finance throughout their journey of business expansion by delivering robust and scalable solutions. Our aim is to continuously explore innovative pathways, ensuring they not only maintain a leading position in the competitive landscape but also consistently provide exceptional value to their end customers.”
“From streamlined operations to enhanced legal compliance and precise financial management, the seamless integration of key modules backed by Nucleus’s technological expertise and Mahindra Rural Finance’s customer-centric approach has positioned them as one of the industry leaders.” says, Nikhil Gokhale, Head of Research at IBS Intelligence. He congratulated Nucleus Software for their win in the category, ‘Most Innovative Use of Process Automation: Most Innovative Project’.
The transformative journey involved data migration of Active and Closed loans from FinnOne Neo™ LMS and Partially Disbursed loans from FinnOne Neo™ CAS, integrating seamlessly with 35 standard interfaces. Nucleus Software’s commitment to innovation is evident through the adoption of cutting-edge solutions, including the FinnEdge tool, which streamlined the implementation process, ensuring data accuracy and expediting the transition to the FinnOne Neo™ ecosystem.