Hyderabad, India; December 03, 2024 – Pennant Technologies, an agile and innovative financial technology company, today announced the successful implementation of Pennant’s future-ready Lending Platform, pennApps Lending Factory (PLF), at HDFC Bank, India’s leading private sector bank at transforming its lending business for innovation, speed to market and operational agility. The implementation is set to give HDFC Bank’s lending operations a further fillip by streamlining the entire loan lifecycle—from origination through servicing.
The new system will empower the bank to quickly launch innovative loan products, offer repayment flexibility and tailor the loan servicing to the diverse needs of its customers. The Lending Platform brings with it advanced capabilities, including a secure and scalable containerization stack, rich functional components and deep observability.
“HDFC Bank is on a journey of technological transformation to create the bank of the future,” said Rajesh Chavan, Sr. Executive Vice President – Head Tech & Digital – Loans & Liabilities, HDFC Bank “Pennant has been a key partner in further improving our lending operations and digitising critical customer journeys / processes that were previously manual and time-consuming. The platform’s powerful capabilities is one more step in our journey of improving our current operations and building a strong foundation for the future.”
Equipped with a state-of-the-art Insulation Layer, Pennant’s Lending System enables seamless connectivity with bank’s diverse technology ecosystem such as lending, payments, and core banking and analytics systems. It manages data translation, routing, and security, ensuring seamless communication and scalable integrations. The Insulation Layer empowers the bank to quickly integrate new channels/applications, streamline operations, and scale without disrupting mission-critical services.
“We are excited to be part of HDFC Bank’s transformation journey and to see the positive impact this implementation will have on their business and customers, “said Pradeep Varma, Founding Director & MD, Pennant Technologies. “As the banking landscape evolves, staying ahead with flexible and innovative technology solutions is crucial. Our Lending Platform’s composable architecture allows for automating and digitising critical lending processes, seamless integration with the bank’s ecosystem and rapid customisation, fostering continuous innovation and scaling for unmatched customer service. “
The pennApps Lending Factory platform combines future-ready technology with a unique factory-based architecture, enabling financial institutions to accelerate time-to-market for new loan products, enhance operational agility, and ensure seamless scalability as their business grows. The platform has delivered transformative results to global financial institutions – helping them overcome legacy challenges, streamline operations and ensure speed to market.
For more information on pennApps Lending Factory, please visit: https://www.pennanttech.com/lending-factory/
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