Mahindra Finance taps Nucleus Software to transform lending services

Mahindra & Mahindra Financial Services Limited (MMFSL or Mahindra Financial), a non-banking finance company in India and part of the Mahindra Group, announced a strategic partnership with software products company Nucleus Software.

The partnership aims to strengthen Mahindra Financial’s scalability and improve employee experiences by leveraging Nucleus Software’s flagship product, FinnOne Neo.

Raul Rebello — Mahindra Finance MD and CEO – Designate said: “Our constant endeavour is to ensure consistent and engaging experience to all our employees and customers. We are delighted to partner with Nucleus Software and leverage FinnOne Neo’s expertise to further strengthen and scale our loan management and servicing capabilities.”

Mahindra Finance teams up with Nucleus Software to enhance digitalization of lending services. Photo courtesy of Nucleus Software Exports Ltd.

The plug-and-play features of FinnOne Neo enable it to link with various fintech partner ecosystems, enhancing the operational robustness of Mahindra Financial. Moreover, the integration seeks to uplift the employee experience for Mahindra Finance’s back-office and operations teams, making use of FinnOne Neo LMS and FinnOne Neo Collections’ capabilities. In addition, FinnOne Neo CAS will provide a sturdy credit backbone to streamline the loan origination journey.

These modules will integrate with the entire business ecosystem at Mahindra Finance through their API capabilities. Nucleus Software, known for providing lending and transaction banking products to the global financial services industry, thus plays a crucial role in augmenting Mahindra Finance’s business operations.

Parag Bhise — Nucleus Software Exports CEO said: “We aim to empower our customers by aligning technology capabilities to the business’s strategy and operations providing a foundation for flexible, scalable, future-proofed systems that deliver speed and efficiency.

“We are immensely happy that Mahindra Finance chose our IP product offerings over building bespoke software through a Services firm which clearly demonstrates the strength of FinnOne Neo’s digital capabilities. This partnership is a perfect example of strategic planning and collaboration on shaping strategy and automating operations.”