New Delhi, India. September 14, 2017. Nucleus Software, the leading provider of lending and transaction banking solutions to the global financial services industry, announced that TAB Capital, an award winning Non-Banking Finance Company (NBFC) has selected FinnOne Neo Cloud, Nucleus Software’s cloud based lending solution. The company will implement this solution to support the end to end digitization of their lending business. With this association, TAB Capital further strengthens its leading position in the digital Lending market.
Over 30 million companies operate in the Micro, Small and Medium Enterprise (MSME) sector, contributing 45% of manufacturing output and 40% of exports. However, lending to MSME segment has been constrained by cumbersome, time consuming and inefficient processes. TAB Capital aims to change this by providing MSMEs with faster access to loans.
Established in 2015, TAB Capital has chosen Nucleus FinnOne Neo Cloud to digitize their operations. The solution will help TAB Capital scale their business focusing on Business Loans and Personal Loans. FinnOne Neo Cloud is a comprehensive and standardized cloud based lending solution designed to facilitate easy management of the complete loan lifecycle – from designing and launching innovative products in minutes to dramatically reducing exposure to risk.
The company will deploy FinnOne Neo Cloud to take advantage of the benefits that cloud technology brings, including reduced time to market, on-demand scalability, and market-leading security. The company will also implement Nucleus FinnOne Neo Lending Mobility solutions — mCAS and mCollect — for leveraging the power of mobile in loan origination and collections. This digital capability with mobile channel in lending processes will help TAB Capital further drive efficiency, cost reduction and faster decision making. Nucleus FinnOne Neo Lending Mobility helps banks and NBFCs manage the end to end loan life cycle of their customers on mobile devices. The solution helps banks on-board customers faster, deliver better services and simplify collection processes.
CA Abhay Bhutada, Founder & Managing Director at TAB Capital Limited, said “We look forward to working with Nucleus Software as we turbo-charge our growth by offering new-age lending solutions and outstanding customer experiences. Nucleus Software is well known in the industry for their innovative solutions and we know that they can help us achieve the next level of growth by tapping into new markets and reaching customers in new and innovative ways.“
Vishnu R. Dusad, CEO, Nucleus Software said, “The MSME sector is an important part of the Honorable Prime Minister Mr. Narendra Modi’s ‘Make in India’ and ‘Digital India’ initiatives. The government has recently announced new schemes for empowering the rural and MSME sectors. It is important to ensure that this segment has easy access to affordable credit and we are happy to be contributing towards this digital push. We are witnessing great interest in the financial services space in India around cloud, and we have gained 12 new customers for FinnOne Neo Cloud since we launched it last year. TAB Capital is an innovative company with aggressive growth plans and we are delighted to support them in their digital journey. With FinnOne Neo Cloud, the company will be able to scale faster and provide easier access to innovative loan products.”
About TAB Capital:
TAB Capital Limited is fastest growing and Award-winning NBFCs in India. Based out of Pune and founded by CA Abhay Bhutada, the NBFC is present across multiple geographies with its branches in Delhi, Bangalore, Chennai, Pune and Hyderabad. Registered with the RBI as a Non-Deposit taking NBFC, the enterprise endeavour is revolutionizing Digital Lending for SME Finance.
TAB Capital was recognized as the “Emerging Tech Savvy NBFC” at the MSME Banking Excellence Awards instituted by CIMSME. Following the same, TAB Capital emerged as the “Best Start-Up Profit Making NBFC” at the hands of Suresh Prabhu, the Hon’ble Railways minister of India. Recently, the company was awarded the ‘Fastest Growing Digital Lending NBFC of India’ at Digital India Summit 2017 at the hands of Ravi Shankar Prasad, Hon’ble Minister for Information Technology.
For more information, please visit: www.tabcapital.co.in
Sunil Kumar Singh / Kiran Hans Khowal
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