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pennApps Lending Factory

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Overview

pennApps Lending Factory (PLF) is a comprehensive, state-of-the-art lending platform built on Pennant's next generation Application Framework. The product offers a unique concept of functional factories and business process driven execution engines to deliver the required modularity, flexibility and componentisation.

A novel concept of business process driven execution engines with multitude of functional factories at its disposal allows a bank/financial services company to define, deploy and manage the business processes without any dependency on vendor or internal technology teams. Business users can define processes, users, departments and products with minimal technical expertise leveraging the built in controls and history tracking capability to safely implement changes.

Owing to its strong cloud enablement functionalities, and de-coupled technology architecture, pennApps Lending Factory was able to leverage the containerization approach to run its different modules independent of the overall migration program which included few other applications. The entire cloud based lending platform was completed and launched in 15 days, without any disruption to the customer’s business operations. By combining our strong lending domain experience and cloud technology capabilities, Pennant was able to deliver a customer-centric cloud based lending solution.

Key Features

Pennant’s core product offering is the pennApps Lending Factory, a platform based end-to-end solution supporting widest possible range of loan based products (personal, vehicle, lease finance, commercial, mortgage etc.,) across the business lines (Retail, SME and Corporate). It brings the stakeholders of the ecosystem within its solution, thereby enabling its customers to enhance process efficiency with complete operational control.

It covers the complete loan life cycle which includes –

1. Onboarding - Complete suite of Digital Onboarding capabilities for on-boarding the customers digitally.

2. Loan Origination – Streamlining and simplifying the origination covering the eligibility, appraisal, document collection and disbursal.

3. Loan Management/Servicing - Comprehensive Loan Management/Servicing features across the life cycle of the loan coupled with regulatory compliance capabilities.

4. Collections & Recovery - An Independent collection module to support the collections process effectively and efficiently.

Key Benefits

pennApps Lending Factory is focused on our client’s key business imperatives mainly improving their customer experience by extending products and services to digital delivery channels, differentiated product offerings with improved time-to-market and enhancing operational efficiencies.

Agility to respond to market dynamics. The high level of product configurability enables the client to accelerate their time to market by quickly launching the products as per the market dynamics

Improved operational efficiency. Business process centricity enables the client to reconfigure workflows, effectively utilize numerous functional factories, and execution to streamline operations for efficiency, flexibility and transparency

Enhanced risk management and assessment. The product’s functionalities help the client, to meet the internal compliance or risk management requirements and define multiple policies with minimum / mandatory/ exceptions / review, have a resilient risk management process and capabilities

Repository of APIs across the loan life cycle enables the client to offer differentiated customer experience

Platform based approach. One solution for the entire lending portfolio across the lines of businesses enables the client to achieve a seamless and unified visibility

Future proof architecture. Agnostic to the underlying platform, database, device and browser provides unlimited flexibility to the client in leveraging their technology infrastructure and also to adapt to technological advancements with ease

With more than 15000 users from our client organizations including banks and non-banking financial companies (NBFCs), PLF is impacting the borrowing needs of more than 2 million end consumers across the globe.