Bajaj Finance Adopts Pennant’s Cloud Lending Technology

Bajaj Finance has upgraded its digital systems by switching to Pennant Technologies’ cloud-based lending platform. The company said it moved from its old loan management system to pennApps Lending Factory, a digital tool built to handle large volumes of loan operations faster and with more flexibility.

The company said this change was needed to meet rising demands in the financial sector, especially with over 50 million loans to manage. It added that the new system improves how it handles retail, commercial, and business loans, helping it respond better to customer needs and offer more flexible services.

Pennant Launches India’s Largest Cloud Lending Platform

Pennant Technologies said this is the largest rollout of a cloud-based lending platform in India’s financial sector. The company explained that the system brings better speed, reliability, and smoother operations across all lending services. This shift supports stronger performance and improved customer service. The platform is built to handle large volumes while staying flexible and efficient.

Rajeev Jain, Vice Chairman of Bajaj Finance, said the company has always focused on innovation to serve its stakeholders. The partnership with Pennant aims to improve digital services and customer experience.

The company said its old loan system, though useful for years, no longer met current industry needs. It stated that new rules, increased expenses, and customer demands led to the need for an upgrade. According to the firm, the new platform allows faster and more flexible loan handling. This change helps the company remain competitive and meet new standards.

Pennant’s Platform Now Supports Many Bajaj Finance Loan Products

Pennant said its platform now supports many loan products offered by Bajaj Finance. These include housing loans, gold loans, consumer finance, professional loans, and commercial lending. This change helps Bajaj Finance keep up with market shifts. It also noted that customer needs remain a strong focus during this process.

Mudit Mehrish, Chief Information Officer at Bajaj Finance, said the plan began as a small upgrade but became a full system change. The new platform allows faster service, better customer support, and easier internal processes. According to Mudit, this step was important for meeting growing business needs. The company believes the new system is a major step forward.

Pradeep Varma, the Managing Director at Pennant, said the recent launch shows the platform can deliver real business results. He noted that Pennant wants to give banks and lenders tools that support both daily work and long-term growth. These tools are useful in a fast-moving financial world.

According to the update, the latest project involved one of the largest data moves ever seen in global lending. It said the migration included both secured and unsecured loans. Pennant believes completing this work was a major success for the team. The company believes this proves its role as a trusted partner in digital finance.