Mahindra Rural Housing Finance taps Nucleus Software to digitise lending operations

Mahindra Rural Housing Finance, a rural non-banking finance company and a subsidiary of Mahindra & Mahindra Financial Services Limited, on Tuesday said, it has gone live on FinnOne Neo, the digital lending solution from Nucleus Software, for their retail and mortgage lending operations.   

The implementation was completed in under a year with zero business disruptions, the company said in a statement. 

FinnOne Neo would help Mahindra Rural Housing Finance with paperless operations from sourcing, loan disbursement to servicing. It would also enhance business agility and enable sustainable growth, along with robust and automated credit decisioning for intelligent risk management.  

The solution is easily scalable, can be quickly integrated with the financial ecosystem, allows seamless straight through processing and is innovation-led. This partnership will further help Mahindra Rural Housing to gain optimised operational efficiencies and regulatory compliances aligned to the changing market dynamics, business needs and consumer demands, the statement added. 

With paperless operations, intelligent risk management, and hyper-personalised services, we are now poised to redefine the lending experience for our valued customers, said Shantanu Rege, MD & CEO- Mahindra Rural Housing Finance. 

He added that as the lender adapts to changing market dynamics and evolving consumer demands, it is confident that FinnOne Neo will "catalyse optimised operational efficiencies and regulatory excellence.” 

With the go-live of the digital lending platform, all relevant loan applications of Mahindra Rural Housing Finance are now processed through FinnOne Neo, Parag Bhise, CEO- Nucleus Software Exports Ltd, said in a statement. 

Nucleus Software has worked with more than 200 financial institutions in over 50 countries, supporting retail and corporate lending, cash management, mobile and internet banking. The shares of Nucleus Software Exports Ltd gained as much as 4% on Tuesday post the announcement with the lender.