Aurionpro Solutions wins $3 million deal from Malaysian Bank

Indian IT services and consulting firm Aurionpro Solutions Limited announced a strategic win with a Malaysian bank on Wednesday, although the bank's name was not disclosed. The deal, valued at approximately $3 million, aims to modernise the bank's corporate processes such as the loan origination system and credit risk platform. The implementation is expected to take place over 15 months.

The bank has chosen Integro Technologies, a subsidiary of Aurionpro, to transform its loan origination system using SmartLender, a commercial loan origination solution. Integro Technologies' commercial credit risk platform has been recognised in the Chartis RiskTech Quadrant and is used by leading banks across Asia, as stated in an exchange filing.

Aurionpro was selected as the bank's digital transformation partner due to its established local presence and expertise in commercial lending, ensuring efficient project delivery and ongoing support.

With the SmartLender solution, the bank aims to automate corporate loan origination, streamline processes, and expedite processing times. The Financial Analysis module will provide comprehensive financial insights for informed lending decisions, while the ESG module integrates sustainability standards. The SmartCapture module facilitates efficient data capture and integration with existing systems, and the Solicitors' portal streamlines communication and document management with legal entities to ensure compliance with regulations.

Shekhar Mullatti, Global Head and President of the Banking Solution Group at Aurionpro, said that the SmartLender suite offers a comprehensive solution to automate workflows, improve decision-making, and achieve operational excellence, empowering the bank to provide a superior lending experience to their corporate customers.

Aurionpro, founded in 1997 and headquartered in Mumbai, India, operates across various sectors including banking and finance, retail, and government.

In April, Aurionpro announced the acquisition of Mumbai-based banking and insurance-focused platform-as-a-service (PaaS) startup Arya.ai for $16.5 million. The company aims to integrate Arya.ai's AI cloud platform with its offerings to create a leading enterprise AI platform for financial institutions globally.

On July 24, the IT consulting firm announced its financial results for the quarter ended June 30, 2024. Revenue for the quarter was ₹262 crore, representing a 32% YoY increase and a 6% QoQ increase. On a YoY basis, the company's net profit and revenue increased by 41.22% and 31.67% respectively in Q1 FY25.

The company also secured a new order from the largest bank in Myanmar for the license and implementation of SME lending operations and signed deals for the installation and implementation of co-engineered IP (Portal) for two international clients in Vietnam.

Additionally, Aurionpro Payment Solutions Private Limited, a subsidiary of Aurionpro, received final authorisation from the Reserve Bank of India to operate as an Online Payment Aggregator under its payments brand ‘AuroPay’, it said.