Uno Digital Bank adopts new loan system to boost lending agility

Uno Digital Bank has deployed Pennant Technologies' pennApps Lending Factory Loan Management System within its lending operations.

The implementation is intended to address challenges the lending sector faces, such as increased operational complexity and the need to quickly adapt to changing market dynamics and regulatory requirements.

PennApps Lending Factory's Loan Management System (LMS) allows Uno Digital Bank to manage diverse lending products and supports customisation to meet specific customer requirements. It is also designed to help the bank adapt more rapidly to changes in regulation, aiming to reduce compliance risks and enhance the bank's competitiveness.

Kalidas Ghose, Co-Founder & Chairman, UNO Digital Bank, said, "At Uno Digital Bank, we are always looking for ways to innovate and enhance our service offerings. The implementation of pennApps Lending Factory represents a key step in our mission to deliver best-in-class borrowing experience for our customers. The new Loan Management System has not only streamlined our operations but also elevated the customer experience, making it easier for us to meet the diverse needs of our customers."

The integration of the platform is expected to make Uno Digital Bank's lending processes more efficient and responsive. The LMS enables the bank to launch multiple loan product lines, increases operational flexibility, and is aimed at supporting loan portfolio growth.

The platform reduces manual aspects of lending operations by automating key workflows, covering processes from loan origination through to servicing and collections. The new system also offers multi-channel loan disbursement capabilities, intended to give borrowers increased access and convenience.

Through the new system, Uno Digital Bank expects to improve collaboration with other financial institutions and industry partners. The technology is designed to help the bank pursue new revenue streams and explore strategic ecosystem relationships such as those with marketplaces and other financial providers.

Reporting tools built into the LMS allow the bank to access real-time analytics. These insights are used to inform decision-making, with the intention of optimising business processes and improving outcomes.

Rama Krishna Raju, Founding Director & CEO, Pennant Technologies, commented, "We are thrilled at the successful implementation of our future ready Loan Management System at UNO Digital Bank. The system's powerful functionalities, such as repayment flexibility and ease of loan restructuring, empower the bank to deliver tailored solutions to their customers. Additionally, the system's advanced automation capabilities ensure accurate and seamless interest recalculations, helping the bank stay responsive while minimising operational risks. We look forward to supporting their future growth as they continue to leverage our technology to drive innovation and expand their loan portfolio."

The LMS is based on a composable, technology-agnostic framework that is designed to give institutions the capacity for rapid customisation and innovation. According to Pennant, the system is flexible and scalable, enabling banks to respond to market shifts, manage increased loan volumes, offer various repayment schedules, and expand operations as necessary.

Pennant Technologies' lending platform is used by other financial organisations globally and has been recognised by analyst firms and industry bodies for its functional capabilities and performance.

Uno Digital Bank operates under the Digital Banking Licence granted by the Bangko Sentral ng Pilipinas in the Philippines, providing customers with a platform to manage a range of personal finance activities.