back Back

Decimal Technologies partners with Ujjivan Small Finance Bank to digitise loans

By Leandra Monteiro

August 23, 2021

Share

Ujjivan Small Finance Bank, Ujjivan, Progcap, Desiderata Impact Ventures MSME, FinTechDecimal Technologies, one of India’s leading FinTech firms and Ujjivan Small Finance Bank (USFB) Limited, a mass market bank entered into a partnership through which Ujjivan SFB and its channel partners will use Decimal’s digital lending platform – Saarathi.

This collaboration will enable the Bank to digitize loan sourcing through its sales force as well as Direct Selling Agents (DSAs). This is part of the Bank’s strategy to strengthen its digital infrastructure which has been on one of it’ s key focus areas.

Launched in 2020, Saarathi is an AI-based, ready-to-use digital lending platform specialising in digitisation of loan origination journeys. Saarathi can be used by bank’s sales channels to source loan files digitally. Unlike any digitisation project, Saarathi requires no upfront capital investment and significantly reduces the time-to-market by 95%.

As part of the partnership, Decimal’s ‘Saarathi’ is enabling 100% digitisation of Ujjivan SFB’s loan offerings, providing a simple user interface and helping to carry out business operations during lockdowns. Saarathi is dispensing verified and trusted channel partners to send digitized loan applications with a detailed risk assessment to Ujjivan SFB. Saarathi is also integrated with Credit Bureau, NSDL, document verifications systems, Google Maps for geo-tagging, bank statement analyser and more, resulting in improved efficiency of credit underwriting for Ujjivan SFB.

Lalit Mehta, Co-founder and CEO, Decimal Technologies said, “We are extremely delighted to be the technology partner for Ujjivan SFB. This is our first ever banking tie up in this model and through this partnership, we will deploy a robust digital infrastructure to transition loan processes from manual to digital and help the Bank create digital financial solutions through our financial services distribution platform, Saarathi, and elevate the loan delivery process. With this partnership, we want to strengthen Ujjivan’s loan disbursal process with technology integration.”

Speaking of the partnership, Mr. Dheemant Thacker, Head- Digital Banking, Ujjivan Small Finance Bank said, “This partnership with Decimal Technologies digitizes our loan origination journey through assisted mode and significantly improves TATs without incurring huge capital expenditure, thereby strengthening our overall business operations. We continue to build a robust digital infrastructure to offer greater customer convenience and a superior customer experience through such fin-tech engagements”.

Previous Article

August 23, 2021

5 FinTech companies making waves in the UAE market

Read More
Next Article

August 23, 2021

CoinSwap Space to provide cryptocurrency purchases via Ramp Network

Read More







Advertise with us



IBSi Daily News Analysis

Fraud

June 29, 2022

UK has become the global hub for fraud due to an explosion of cybercrime

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Cogent Bank launches real-time, blockchain-based payments via TassatPay

Read More

Today

NETinfo to offer its Digital Banking Platform on Microsoft Azure cloud

Read More

Today

Pendo strengthens its presence in Europe to drive the product-led movement

Read More

Related Reports

Sales League Table Report 2022

£ 1,500.00 / year

Know More
Global Digital Banking Vendor and Landscape Report Q1 2022

£ 1,500.00 / year

Know More
Wealth Management & Private Banking Systems Report Q1 2022

£ 1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q1 2022

£ 1,500.00 / year

Know More
Treasury and Capital Markets Systems Report 2021

£ 1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022