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.
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.