UNO Digital Bank deploys pennApps Lending Factory to transform loan Ops

By Gloria Methri

Pennant Technologies has announced the successful deployment of its pennApps Lending Factory Loan Management System (LMS) at UNO Digital Bank, marking a significant milestone in the bank’s digital transformation journey. The rollout reflects UNO’s commitment to delivering agile, personalised, and compliant lending services in a fast-evolving financial landscape.

The modern, composable LMS empowers the bank to manage complex lending products with ease while offering the flexibility to customise services to individual customer needs. The implementation equips UNO Digital Bank to quickly respond to changing market demands and regulatory requirements, streamlining compliance, reducing manual operations, and enhancing service delivery.

“At Uno Digital Bank, we are always looking for ways to innovate and enhance our service offerings,” said Kalidas Ghose, Co-Founder & Chairman, UNO Digital Bank. “The implementation of pennApps Lending Factory represents a key step in our mission to deliver a best-in-class borrowing experience for our customers. The new Loan Management System has not only streamlined our operations but also elevated the customer experience, making it easier for us to meet the diverse needs of our customers.”

Key benefits of the implementation include:

Expand Loan Portfolio with Multiple Product Lines. The advanced LMS will enable the bank to launch multiple loan product lines, enhance operational flexibility, and drive growth in its loan portfolio.

Streamline Loan Servicing. The new platform has streamlined manual lending processes by automating workflows within the LMS, enabling the bank to efficiently handle key loan cycle events — from origination to servicing to collections.

Enable Omni-channel Experience: The system supports multichannel loan disbursements, providing greater convenience and accessibility for borrowers.

Drive Strategic Ecosystem Partnerships. The bank will now be able to effectively partner and collaborate with other ecosystem players, such as financial institutions and marketplaces, to explore synergies and new revenue streams.

Robust Reporting Capabilities: Built-in reporting tools provide real-time insights and analytics, helping the bank optimise decision-making processes.

“We are thrilled at the successful implementation of our future-ready Loan Management System at UNO Digital Bank,” said Rama Krishna Raju, Founding Director & CEO, Pennant Technologies. ” The system’s powerful functionalities, such as repayment flexibility and ease of loan restructuring, empower the bank to deliver tailored solutions to its customers. Additionally, the system’s advanced automation capabilities ensure accurate and seamless interest recalculations, helping the bank stay responsive while minimising operational risks. We look forward to supporting their future growth as they continue to leverage our technology to drive innovation and expand their loan portfolio.”