TMB strengthens digital lending framework

THOOTHUKUDI: Tamilnad Mercantile Bank (TMB) on Thursday announced the rollout of its New Loan Origination System (LOS) and inauguration of new premises for its first Credit Management Centre (CMC) in Thoothukudi to strengthen its lending operations and significantly reduce loan approval Turn Around Time (TAT).

This new technology is aimed at bringing greater speed, accuracy and standardisation across the Bank’s loan processing workflow. In this technology collaboration, the Bank has partnered with ‘Nucleus Software’ based at Noida.

The rollout will take place in a phased manner over a period of next six months across all key loan categories, including MSME, agriculture, equipping the bank to manage higher loan volumes with improved operational efficiency. Salee S Nair, managing director-CEO, Tamilnad Mercantile Bank, said: “The launch of our new LOS and LMS platform marks a major milestone in strengthening TMB’s digital lending architecture in the newly inaugurated structure viz., credit management centre wherein credit processing is centralised to relieve the branch heads to concentrate on liability side and jewel loan business.”

“Once it is fully completed, loan sanctions up to Rs 50.00 lakhs will be done in a straight through process (using data-based algorithms) within 30 minutes which will be a game changer,” Nair said.