9 months ago
Tamilnad Mercantile Bank Launches Loan System
Tamilnad Mercantile Bank (TMB) has introduced a new system to help them process loans faster and more accurately.
This system, called the Loan Origination System (LOS), was developed with the help of a company called Nucleus Software.
The new system will use automation and digital workflows to make loan approvals quicker.
TMB also opened a new center in Thoothukudi to manage loans better.
The bank plans to roll out this new system over the next six months for different types of loans, including those for small and medium-sized businesses.
The goal is to make getting a loan faster and easier for customers.
Tamilnad Mercantile Bank (TMB) has launched a new Loan Origination System (LOS) in partnership with Nucleus Software.
The LOS aims to speed up loan processing through automation, digital workflows, and real-time integration.
The system will be rolled out in phases over the next six months across key loan categories, including MSMEs.
TMB inaugurated a new Credit Management Centre (CMC) in Thoothukudi to strengthen lending operations and reduce loan approval times.
The new technology is expected to enhance customer experience by reducing the Turn Around Time (TAT) for loan sanctions.
- Who
- Tamilnad Mercantile Bank (TMB) in partnership with Nucleus Software
- What
- Launched a new Loan Origination System (LOS) and inaugurated a new Credit Management Centre (CMC)
- Where
- Thoothukudi, India
- When
- Rollout to be completed in the next six months
- Why
- To speed up loan processing, enhance customer experience, and strengthen digital lending architecture
Key facts
- Bank
- Tamilnad Mercantile Bank (TMB)
- Technology Partner
- Nucleus Software
- System
- Loan Origination System (LOS)
- Rollout Duration
- 6 months
- Key Loan Categories
- Including MSMEs
- New Facility
- Credit Management Centre (CMC) in Thoothukudi
Quotes
Salee S Nair
Managing Director & CEO, Tamilnad Mercantile Bank
“The launch of our new LOS and LMS platform marks a major milestone in strengthening TMB’s digital lending architecture in the newly inaugurated structure. With the new platform, we aim to reduce our TAT for loan sanction substantially, duly supported by automated checks, real-time integration and data-led decisioning.”
thehindubusinessline.com
Sources
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