Islamic Banking Solutions

Stay innovative and Shari'ah compliant with Finance Factory. Know more

Islamic Banking Solutions

Stay innovative and Shari'ah compliant with Finance Factory. Know more

Finance Factory

Digital disruption ushered in a new era for banks to raise the bar for delivering differentiated customer experiences. This is even more relatable for Islamic Banking as the need is to adhere to and be consistent with the principles of Islamic Law – Shari’ah and offer innovative, Shari’ah compliant solutions for world-class customer experiences.

pennApps Finance Factory is a comprehensive enterprise finance management solution that helps banks to effectively manage their Islamic finance product portfolio, encompassing finance origination and finance management/servicing activities and supporting diverse Islamic financing needs

Built on Pennant’s next-generation application framework, the unique concept of functional factories and business-process driven execution engines deliver the required modularity, flexibility and componentisation. It offers the required scalability, cost advantage and speed to accommodate introduction of new lines of business and new product development.

Accelerate time to market

Finance Factory enables you to offer customised products to meet market demands in a timely manner. Offer innovative products with true time-to-market advantage.

  • Innovative Configurable Business Rules
  • Define Flexible Products for Bank Needs
  • Flexible Eligibility Checks
  • Configure Pricing and Rates
  • Define Controls for Management

Improved operational efficiencies

Business process centricity enables you to define and review, and improves the process by reconfiguring the workflows as and when desired.

  • Configurable Accounting
  • Formula Based Accounting Entries
  • Event Based Postings to Accounts

Improved risk management and risk assessment

Streamlines and helps you define various attributes including customer details, multiple policies with minimum/mandatory/exceptions, etc., for effective risk management.

  • Rules Based Scoring
  • Credit Bureau Integration Feasibility
  • Configurable Dedupe Fields
  • Black Listing and Negative Checking

Intelligent finance management

End-to-end business process automation right from data capture to credit processing, and approval to disbursal with built-in validations including functionalities like dedupe and blacklist.

  • Retail and Corporate Type Finances
  • Fixed, Floating and Term Finances
  • Complete Life Cycle Management
  • Multiple Disbursements
  • Easy Profit Rate Management
  • System Driven Settlements
  • Transparent Profit Calculation
  • Customer Driven Billing Cycles
  • Daily Accrual
  • Flexible Rule Based Fee Management
  • Penalty Management
  • Delinquency Management

Comprehensive reporting & dashboards

Various management or operational reports and interactive dashboards assist you in monitoring the turnaround statistics of all the stages of finance servicing.

  • Dashboards
  • Drill Down Reports
  • Alerts and Escalations
  • Documented Data Model

Success stories

Mawarid Finance

Mawarid Finance Goes Live with pennApps Interactive Communication Manager

Ajman Bank

Ajman bank goes live with pennApps Interactive Communications Manager (ICM) in shortest possible time.

Godrej Housing Finance Implements Pennant Technologies’ next-gen Lending Platform for Indian Market Entry

Highly configurable and cloud compatible Pennant Technologies Lending factory has helped Godrej Housing Finance launch...

Pennant Helps Piramal Deploy Lending Platform on Microsoft Azure

Pennant’s demonstrable experience and expertise in implementing banking solutions, its agile delivery capabilities and outstanding...

Industry & analyst recognition

Pennant Honored with Stevie Award for Platform based Lending Software System

pennApps Lending Factory wins award for the second consecutive year Hyderabad, India; August 07, 2022...

Forrester Recognises Pennant as a Solid Player in its Global Banking Platform Vendor Report

The Banking and Financial Services Industry is undergoing a paradigm shift in transforming its digital...

Finalist at the 12th Annual Aegis Graham Bell Awards for the Category – Innovative Digital Transformation for Banking

Finalist at the 12th Annual Aegis Graham Bell Awards for the Category - Innovative Digital...

Recognised as a Major Contender in the Everest Group PEAK Matrix for Consumer Loan Origination Systems.

Recognised as a Major Contender in the Everest Group PEAK Matrix for Consumer Loan Origination...

InsightsView all

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How Large Banks in Middle East Asia have Transformed their ATM/POS Based Transactions Ecosystem

When consumers think of ATMs, they probably visualise a digital peripheral with a screen, keypad,...

Buy Now Pay Later (BNPL): Key Factors to Consider While Choosing the Right Lending Platform

With a rising number of shoppers opting for a Buy Now, Pay Later (BNPL) payment...

pennApps Lending Factory on LinuxOne Emperor 4: Enabling sustainability focused, secured and scalable Lending Operations

pennApps Lending Factory and LinuxOne: Empowering financial institutions for higher performance.

How to Simplify Debt Recovery with Digital Collection and SaaS

Effective debt collection and delinquency management is a growing concern for banks and financial institutions....