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Co-lending
Co-lending
With co-lending, two or more lenders can come together to cater to jointly address the financing needs of customers with a rewards and risk sharing model. The partners may include banks, non-banking finance companies (NBFCs), housing finance companies (HFCs).
Co-lending may pose challenges due to the involvement of two / more very different business entities that have different processes / policies, technology systems and risk management approach. Integration of processes for underwriting, disbursement and collections might take a lot of time and still not be able to bridge all the gaps. There is a need for greater collaboration between the lenders, including the seamless integration of their technology systems, not only to meet the goals of the program but also to provide a smooth customer experience. Financial institutions need a specialized and advanced technology platform to handle the operational challenges posed by co-lending. Nucleus Software’s market leading digital lending solution, FinnOne Neo has been designed to help banks, NBFCs and HFCs collaborate quickly and easily to capitalize on the co-lending opportunity.
Key Value Differentiators with FinnOne Neo
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Launch co-lending business quickly and easily -
On-board multiple partners using the same system -
Simplify and streamline information sharing with multiple partners -
Provide quick and automated loan processing and approvals -
Reduce the cost of loan operations substantially -
Unlock rapid business growth with extended market reach to new segments
Unique Features
- Configure credit risk assessment in-line with the risk policies of the partners
- Structure the repayment plans easily based on multiple parameters
- Maintain strict adherence to each partner’s business policies
- Seamless customer information sharing along with documents between partners
- Ensure compliance to requisite reporting and regulatory norms
- Ready to be deployed on cloud
- Completely automated and paperless processes
- Scalable, Reliable and secure platform
- Multi-lingual, Omni channel solution
- API based architecture for quick integration with lending ecosystem enablers
- Instant multi credit bureau checks integration
- Partnership with trusted FinTechs for complete digitization
- Straight Through Processing (STP) for end to end automation capabilities
- Comprehensive accounting with real-time report generation
- Generate reconciliation reports by merging inputs from partner
- Proactive monitoring with delinquency marking
FinnOne Neo Customer Acquisition (CAS) helps lenders digitize and automate your customer acquisition processes from lead generation to credit decisioning and customer onboarding to loan disbursal. The solution helps lenders launch innovative products in minutes, make better credit decisions faster, provide omni-channel access, integrate with ecosystem, incorporate business driven and regulatory changes easily.
FinnOne Neo Loan Management (LMS) helps lenders offer a seamless, fast and personalized customer experience during the loan servicing lifecycle, which not only provides a competitive positioning but also enables cross-sell opportunities. It helps lenders benefit from API based servicing, offer value added products, provide 24x7 automated operations, identify delinquent accounts early and manage risk effectively.
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Case Study - Winner of Celent Model Bank Award 2020 for Retail Lending
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Co-lending is a new direction for Cholamandalam Finance but we are confident that this will soon evolve into a very fruitful partnership model for Banks and NBFCs. Nucleus Software has been our trusted technology partner and their domain expertise ensured that we could roll out the co-lending business quickly, despite its complexity.
- Mr. Ravindra Kundu, Executive Director, Cholamandalam Investment and Finance Company Limited (Chola), New Delhi, India
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