New Delhi, Leading fintech solution provider Nucleus Software on Monday announced the launch of the latest in its line of advanced mobile lending solutions. The solution FinnOne Neo mFin is designed to help micro lenders provide easy, fast and digitized access to micro credit, anytime, anywhere.
With the launch of FinnOne Neo mFin, Nucleus Software aims to make the benefits of advanced technology available to the microfinance sector.
Nucleus FinnOne Neo mFin is designed to ensure that microfinance companies can perform paperless data sourcing, real time application submission, instant verification, and provide credit grading on a single mobile application. The solution helps microfinance companies make loan decisions faster, while streamlining customer on-boarding and reducing operating costs.
FinnOne Neo mFin has a wide range of unique features including the pre-population of application data, seamless integration with credit bureaus, support for group lending, geo tagging, image capture/upload and role based dash-boards. The solution makes full use of India digital stack to deliver an end to end digital lending experience.
According to KPMG, the microfinance industry has played a vital role in promoting financial inclusion in India. It has recorded growth of 27 per cent CAGR over the last few years and is expected to grow at this rate over the next 5 years.
Nucleus Software Executive Director and CEO R P Singh stated “We are confident that FinnOne Neo mFin will be a key step towards fulfilling our vision of making financial services more accessible. This is the next step on our long term strategy of using technology to make a 100 rupee loan possible. “