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Muthoot Finance bags IT innovation award under BFSI category

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Sharath Kumar
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KOCHI, INDIA: India's leading Gold Loan Company Muthoot Finance Ltd received the Express Intelligent Enterprise award for IT innovation under the Banking & Financial Services & Insurance category for the year 2013, for it's in-house developed "Core Banking Solution" implemented across its 4400 plus branches under a centralised platform.

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The award was received by Mr. K N C Nair, CIO, The Muthoot Group, from Mr. K Bhaskar, Director, Cannon Inc, during the 11th edition of Express Technology Senate, held at Abu Dhabi.

The award signifies the innovative IT initiatives that the company has undertaken with definite business advantage and recognition to leverage technology in order to secure a clear competitive edge.

George Alexander Muthoot, managing director, Muthoot Finance Ltd said: "Muthoot Finance Ltd has been a pioneer in using latest technologies for enhancing customer convenience and operational efficiencies in tune with the company's business strategies. The transition to the CBS platform helps us to attain effective centralised control and better efficiencies. This award is indeed special to us as it recognises our company's leadership and success in technology infusion and innovation".

K N C Nair said "The absorption of latest technology has brought in a transformational change in the organization providing our customer's real-time, online transactions on a centralised web based platform. The new solution enables us to design unique products and services to the customers as per their specific needs. It is recognition to the efforts put in by the innovative in-house IT team behind the development of the powerful, flexible and user friendly CBS solution which is extremely cost effective too".