TAB Capital signs for Nucleus' lendtech

TAB Capital signs for Nucleus’ lendtech

India-based finance company TAB Capital is implementing a new lending system, FinnOne Neo, supplied by domestic vendor Nucleus Software.

The solution will be delivered in the cloud, supporting “end-to-end digitisation” of TAB Capital’s lending business, Nucleus says. The company will also deploy Nucleus’ mCAS and mCollect products for loan origination and collections via mobile channel.

TAB Capital was set up in 2015 and is headquartered in Pune. It targets micro, small and medium enterprises (MSMEs) in India. This sector comprises 30+ million companies and contributes 45% of the country’s manufacturing output and 40% of exports.

“However, lending to the MSME segment has been constrained by cumbersome, time consuming and inefficient processes,” Nucleus says. “TAB Capital aims to change this by providing MSMEs with faster access to loans.”

CA Abhay Bhutada, founder and MD of TAB Capital, hopes the new software will help the lending company to “turbo-charge” its growth.

Vishnu R. Dusad, CEO of Nucleus, says 12 companies have signed for FinnOne Neo Cloud since its launch last year. Among these are Essel Home Loans, Manappuram Home Finance, Five-Star Business Finance, Shubham Housing Finance and Sai Point Finance Corporation. The latter has recently gone live, with the implementation taking just four days, according to Nucleus.