Cholamandalam Investment and Finance Company Ltd on Tuesday said it has implemented advanced co-lending solution offered by Nucleus Software, a leading provider of transaction banking solutions.
The solution would help Cholamandalam process the co-lending applications much faster, assess credit risk through a robust framework and ensure compliance with regulatory requirements, a company statement said.
Co-lending would significantly bring down the cost of capital for Chola while helping partner banks reach to new customer segments.
Cholamandalam Investment and Finance Company, executive director, Ravindra Kundu said:"Co-lending is a new direction for Chola but we are confident that this will soon evolve into a very fruitful partnership model for banks and NBFCs."
"Nucleus Software has been our trusted technology partner and their domain expertise ensured that we could roll out the co-lending business quickly," he added.
Nucleus Software Global head core business, Anurag Bhatia said, "Chola enjoys a unique position in the industry today due to its strong focus on always putting customers first and reliance on an inherent value system."
Published 10 November 2020, 14:48 IST