back Back

Tamilnad Mercantile Bank joins Jocata to offer MSMEs lending solutions

By Gloria Mathias

August 21, 2023

  • Business Solutions
  • Digital Banking
  • Digital India

Tamilnad Mercantile Bank, Jocato, FinTech, MSMEs, Digital Lending,  Tamilnad Mercantile Bank (TMB), a private sector lender, has collaborated with Jocata, a FinTech platform provider, to offer digital-first lending products to its growing customer base.

TMB will leverage Jocata’s low-code Digital Lending Platform (DLP) to drive its digital transformation strategy, providing MSMEs with an end-to-end digital, personalized, and experience-led value proposition.

To cater to the growing MSME segment, the Bank is committed to digitizing its comprehensive MSME Financing Program, offering secured and unsecured products covering funded and non-funded facilities.

Krishnan, MD & CEO of Tamilnad Mercantile Bank Ltd said, “We are happy to partner with Jocata, and this alliance is a step forward in our efforts to become a preferred digital bank for our customers. TMB has embarked on a large-scale digital transformation agenda along with business process re-engineering, and one of the key milestones for us will be to bring digital credit products to our MSME customers through technology. By harnessing the potential to scale digital lending with Jocata’s platform, we aim to grow our presence pan India by delivering a seamless and hassle-free borrowing experience for MSMEs.”

Implementing Jocata’s DLP, the FinTech platform aims to improve the current process and reduce the total time-to-credit for MSMEs, addressing a key improvement area in servicing the customer while enabling operational ease for the Bank.

Shailesh Deshpande, Director of Growth at Jocata said, “We are delighted to partner with the Tamilnad Mercantile Bank in their digital transformation journey. Their commitment to digitizing their operations, coupled with our state-of-the-art digital lending platform, will boost credit access for MSMEs while aiding in rapid loan book growth for the Bank. Jocata’s future-ready technology platform and credit expertise align seamlessly with TMB’s vision of driving digital inclusion and innovation.”

Previous Article

August 21, 2023

NCR and Kiwibank partner to enhance ATM services in New Zealand

Read More
Next Article

August 21, 2023

Mahalo Banking & Larky partner to bolster account holder engagement

Read More

IBSi Daily News Analysis

UK, Bank

July 12, 2024

Business Solutions

Global securities lending revenue sees sharp 16% decline to $2.53bn in Q2 2024, study shows

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


Fair4All Finance and ClearScore partner on debt consolidation technology

Read More

July 10, 2024

4 Neobanks redefining America’s banking infrastructure

Read More

July 10, 2024

Islamic FinTech Offa launches buy-to-let finance service

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
Wealth Management & Private Banking Systems Report Q2 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
Get your copy now! IBSi Sales League Table 2024