BusinessWire India
Manila [Philippines] / Hyderabad (Telangana) [India], April 24: Pennant Technologies, an agile and innovative financial technology company, today announced its client, UNO Digital Bank, has successfully deployed and integrated pennApps Lending Factory's Loan Management System (LMS) in to its lending operations. This strategic implementation underscores the bank's commitment to deliver world class banking experiences to its customers.

The lending industry is facing mounting challenges, including the ever increasing need to effectively handle complexities and quickly adapt to market dynamics. By implementing Pennant's highly composable, modern Loan Management System, the bank will be able to seamlessly handle the complexities of diverse lending products while allowing for easy customisation to meet unique customer needs. The LMS will also ensure rapid adaptation to evolving regulatory requirements, reducing compliance risks and enabling the bank to stay competitive in an ever-changing financial landscape.

"At Uno Digital Bank, we are always looking for ways to innovate and enhance our service offerings," said Kalidas Ghose, Co-Founder & Chairman, UNO Digital Bank. "The implementation of pennApps Lending Factory represents a key step in our mission to deliver best-in-class borrowing experience for our customers. The new Loan Management System has not only streamlined our operations but also elevated the customer experience, making it easier for us to meet the diverse needs of our customers."

The successful implementation marks a significant milestone in UNO Digital Bank's digital transformation journey, enabling it to deliver faster, more personalised lending services to its customers. Key benefits of the implementation include:
* Expand Loan Portfolio with Multiple Product Lines. The advanced LMS will enable the bank to launch multiple loan product lines, improve operational flexibility and drive its loan portfolio growth.
* Streamline Loan Servicing. The new platform has reduced manual lending processes, by automating workflows within LMS allowing the bank to seamlessly handle key loan cycle events -- from origination to servicing to collections.
* Enable Omni-channel Experience: The system supports multichannel loan disbursements, providing greater convenience and accessibility for borrowers.
* Drive Strategic Ecosystem Partnerships. The bank will now be able to effectively partner and collaborate with other ecosystem players like financial institutions and marketplaces to explore synergies and new revenue streams.
* Powerful Reporting Capabilities: Built-in reporting tools provide real-time insights and analytics, helping the bank optimise decision-making processes.

"We are thrilled at the successful implementation of our future ready Loan Management System at UNO Digital Bank," said Rama Krishna Raju, Founding Director & CEO, Pennant Technologies. "The system's powerful functionalities, such as repayment flexibility and ease of loan restructuring, empower the bank to deliver tailored solutions to their customers. Additionally, the system's advanced automation capabilities ensure accurate and seamless interest recalculations, helping the bank stay responsive while minimising operational risks. We look forward to supporting their future growth as they continue to leverage our technology to drive innovation and expand their loan portfolio."
pennApps Lending Factory's highly composable, technology-agnostic framework promotes rapid customisation and innovation, while its inherent flexibility and scalability empower institutions to swiftly respond to market changes, efficiently manage increasing loan volumes, offer flexible repayment schedules, and scale operations smoothly.
Trusted by leading financial institutions, and with recognitions from global analyst firms and industry bodies, Pennant's award-winning platform is lauded for its powerful capabilities, performance and excellence.
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