Our story

The genesis of the company dates back to early 2005, when a group of technocrats – Rama Krishna Raju and Pradeep Varma - with experience of working in leading multinational banks in the Middle East, came together to build next-gen software products, solutions and services for the banking and financial services industry. The founding team embarked on the journey by focusing initially on enterprise application and integration services, leveraging their deep technology skills and extensive banking domain knowledge, and experience. In due course, the company started offering application services that include custom application development, application modernisation and application re-engineering. Pennant’s prudent approach of focusing on the value added business applications around core banking truly helped us to make a mark in the Middle East market where we delivered simple to complex transaction processing applications. Following that, Pennant successfully delivered end-to-end credit card workflow/processing application to a leading bank in the UAE and a complete branch automation development for a leading bank in Oman.

The experience of delivering over 100+ projects worldwide bestowed Pennant with abundant insights about multiple vendor applications, especially the capabilities versus the end-user expectations and requirements. Similarly, the experience we gained by performing end-to-end product engineering right from designing and development to implementation to a leading ISV, enriched the company’s knowledge enough to build a robust product. Starting in 2010, the founding team started envisioning and building world-class, cutting edge products for the banking industry. Spending quality time talking to banks and financial institutions and thoroughly evaluating the needs of the market, the team went about building proprietary, technology agnostic frameworks that would act as the foundation for building modular, flexible and componentised products. Over the next few years, Pennant built many products with a focus on configurability and modularity that would meet the future needs of the financial services industry.

pennApps Lending Factory, one of such product in our portfolio, is being used by leading banks and financial institutions today. Through the Lending Factory platform, more than 6 million active loans are being managed. With the lending process becoming more customer-oriented and the introduction of self-service options, Lending Factory has been helping financial institutions to deliver compelling customer experiences, quickly innovate and launch new offers and operate efficiently.