A Global Top 10 Bank

Selects pennApps Lending Factory to Modernise its Lending Operations

Pennant Technologies has won a multi-year, multi-million deal from one of the Global Top 10 Bank (in market capitalization). Based in Asia, the Bank has more than $200 Billion assets under management. As part of the program, Pennant will be implementing the Loan Management System (LMS) and later on Loan Origination System (LOS) modules for specific segments of the Bank’s lending portfolio. The Bank’s existing legacy lending platform had multiple issues, including of scaling up, as it was unable to effectively meet the high performance demands of lending operations in the current digital age.

The Bank wants to implement a modern, highly configurable lending platform to address the varied needs of its diverse customer base. Once deployed, the platform is expected to support the needs of various segments including consumer loans, personal loans, auto loans, home loans, etc. At peak performance, pennApps Lending Factory will be used by more than 15,000 number of users, manage millions of loans and have a direct and indirect impact on its diverse customer base.

pennApps Lending Factory was selected for its high configurability, strong capabilities to operate at scale, and capabilities to deliver the desired performance during high volumes of transactions.