Advertisment

Tech Mahindra supports microfinance institution's expansion plans

Tech Mahindra implemented Temenos T24 for Microfinance and Community Banking for Grameen Koota. This will help Grameen Koota reach a larger client base.

author-image
Soma Tah
New Update
ID

BANGALORE, INDIA: Tech Mahindra have implemented Temenos T24 for Microfinance and Community Banking for Grameen Koota Financial Services Private Limited (Grameen Koota). This will help Grameen Koota reach a larger client base.

Advertisment

T24 for Microfinance and Community Banking is specially configured for the specific requirements of microfinance institutions (MFIs) and is a robust platform for Grameen Koota’s multiple solutions and offerings such as credit, insurance, pension and non-financial services such as healthcare.

“Revamping our infrastructure with T24 is an important step towards accelerating operational efficiency and achieving growth targets. We can now become more customer-centric with the help of a versatile back-end system,” said Udaya Kumar, Managing Director and Chief Executive Officer of Grameen Koota.

Over a period of nine months, Tech Mahindra and Temenos implemented T24 across 270 branches in five states to migrating a 1.1 million-strong customer base, consisting of 2.3 million loans and equipping Grameen Koota with the capability to achieve a daily loan disbursement for 10,000 customers. T24’s scalable architecture improves operational efficiency, streamlines Grameen Koota’s Management Information System, and enables access from remote locations, empowering growth across a wider geographical range and to more diverse rural communities.

Temenos provides MFI core banking solutions to over 220 clients. T24 offers a complete front-to-back office, CRM and product lifecycle management software platform that powers core banking operations for financial institutions from new starters, to established intermediaries entering a new market, to very large mass market retail banks.

bfsi tech-mahindra