HDFC Bank picks FinnOne for loan portfolios

By : |October 11, 2009 0

NEW DELHI, INDIA: Nucleus Software Exports Limited’s flagship product FinnOne, has been successfully supporting and delivering operational excellence and strengthening rapid business growth at country’s leading bank
HDFC Bank, India, as announced in a press note today.


The note adds that FinnOne has been powering the HDFC Bank with four modules – Finance against Security (FAS) since 1997, Loan Management (LMS) since 1999, Collection (CMS) since 2001 and, Loan Origination System (LOS) since 2004.


HDFC Bank has implemented the complete suite of FinnOne at an enterprise level and supports Retail Assets Business across it over 1400 branches spread across over 550 towns and cities across India. FinnOne has helped the bank provide a comprehensive, flexible and secured automated solution to its customers.


FinnOne has facilitated effective tracking of loans applications, timely disbursements and swift decision-making, thus contributing to better-cost management at par with international standards. FinnOne ensures ease and efficiency in delinquency management, supporting the objective of acquiring operational and decision-making support for all the asset side business lines, says the company.


"In most of the retail products we offer, we are a market leader on measures of size, geographies covered, quality of portfolio, and customer satisfaction. It has been achieved through quality processes, value added turn around time, and a close customer engagement. All of this have been made possible by investments in systems like these. We look forward to a mutually beneficial and continued relationship with Nucleus Software," said Pralay Mondal, Country Head, Retail Assets & Credit Cards, HDFC Bank.


FinnOne comprehensive suite has enabled HDFC Bank to service its customers more efficiently and has enhanced productivity with systems being available 24×7. With the turn around time now reduced for application processing, and robust systems enabling processing of high numbers, there has been a significant improvement in the banks customer services. Munish Mittal, Head – Technology Solutions Group, HDFC Bank said, “Straight through processing
is integral vision of IT which FinnOne enables by ensuring automated flow of approved applications along with disbursement details from origination system to the lending management solution, thus improving accuracy and
reducing manual processing”. The origination solution also interfaces real time with Bank’s customer application de-duplication system as well as with the Credit Bureau for bureau report to make the process of underwriting
standardized, added Mittal.

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