Nucleus Software, a leading lending and transaction banking solutions provider, today announced that HDB Financial Services Limited(HDBFS), one of the leading Non-Banking Financial company (NBFC) in India, has selected their lending analytics solution to help them leverage the insights provided by their data and make faster and more informed lending decisions.
Incorporated in 2008, HDB Financial Services (HDBFS) caters to both Retail & Commercial customers in India. With over 1000 branches spread across 22 States & 3 Union Territories, HDBFS offers a wide range of secured and unsecured loans to their customers. They were looking for a predictive analytics solution which would help them make data driven decisions seamlessly throughout the lending value chain. The company needed a dynamic solution in order to process loan applications in real-time, while also easily integrating into their technology landscape which includes a range of disparate systems from different vendors.
HDBFS chose Nucleus Lending Analytics due to its unique combination of product capabilities and system flexibility. With cutting edge statistical and data analysis capabilities, Nucleus Lending Analytics is a powerful and user-friendly solution that enables informed decision making through data visualization and business insight generation. The solution uses sophisticated predictive scoring models to allow financial institutions to create scorecards that span the entire loan management life cycle—from lead generation to collection. Nucleus Lending Analytics will help HDBFS to target the right customers with the right loan products at the right time, increasing acquisition rates, lowering costs and improving customer satisfaction.
Mr. Rohit Patwardhan’, Head – Credit and Risk, HDB Financial Services Ltd. stated, "We realize the importance of business insights gained from the huge amount of data that we are gathering. At HDBFS we needed a dynamic predictive analytics solution to help us leverage these insights in processing loan applications in real-time and provide a better customer experience. We look forward to benefitting from the solution to make our credit decision making processes across the origination and collections stages of our retail loan products faster, simpler and better."
Mr. Sudeep Verma, Global Head – FinnOne NEO, said, “Unlike traditional analytical tools, which cater to a wider set of industries, Nucleus Lending Analytics is designed specifically to address the analytical needs of lending business. We are already witnessing a lot of interest from financial institutions across the globe. Along with HDBFS, the solution is helping banks in Africa and the Middle East by enabling more effective decision making, offering comprehensive portfolio management, increasing collection effectiveness and streamlining operations.”
Re-disseminated by The Asian Banker