The Hindu : Business : Sundaram Info launches SmartLend Lite

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Thursday, Jan 04, 2007
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Sundaram Info launches SmartLend Lite

Staff Correspondent

CHENNAI: Sundaram Infotech Solutions (SIS), the IT services arm of Sundaram Finance, which focuses primarily on the financial services and manufacturing verticals, has launched SmartLend Lite, a customised IT solution. The product will offer solutions to small and mid-sized non-banking finance companies (NBFCs), banks in India and the West Asian countries for its retail lending activities.

According to a press release issued here on Wednesday, T. T. Srinivasaraghavan, Managing Director, Sundaram Finance, has stated that the company is starting this initiative with the implementation of SmartLend Lite for a leading NBFC in Punjab and expects to add a few more customers this year.

Developed in Navision 4.0 (Microsoft's enterprise resource planning solution), SmartLend Lite helps in automating application processing and credit appraisal, lease creation and initiation, disbursements, debt collections and collections management, among other processes. It lends itself for retail banks' lending portfolio in addition to automation of fixed deposits processes.

Srinivas Acharya, Chief Executive Officer, Sundaram Infotech, said the customised IT offering for the NBFCs was expected to completely integrate and automate its systems to handle asset and working capital financing as well as debt factoring, payroll processing and credit appraisal.

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