Pennant has been awarded a contract to help a government owned Housing Finance Company to completely revamp and digitalise their lending operations. The client, through its Consulting Partner, had studied the lending processes and systems across its pan-India operations and thereafter identified the areas for replacement including those across Deposits, Customer Relationships, Mobile, Website, etc.
Pennant’s scope of work involved implementation of its flagship product, pennApps Lending Factory (PLF), across the various modules of Loan Origination System (LOS), Loan Management System (LMS) and Collections. Some of the key highlights of the program include:
- Complexity. The focus of the project would be customer base across different sections including socio-economic, urban-rural, demographic distribution, etc. The data migration from the legacy system to the new system would involve migration of more than 25+ lakhs of loans data.
- Scale of the program. The project involves automation of all processes across the entire spectrum of its operations i.e. from Centralized locations to the remotest branch office.
- Third party Integrations. The work also involves integrations with third party Digital and Fintech solutions and applications.
The focus of the program is to implement a platform which will be system driven and less of human interventions.