TMB, Jocata team up for digital solutions to MSMEs

CHENNAI: Tamilnad Mercantile Bank (TMB) has collaborated with Jocata, fintech platform provider, to offer digital-first lending products to its growing customer base. TMB will leverage Jocata’s low-code Digital Lending Platform (DLP) to drive its digital transformation strategy, providing MSMEs with a digital, personalised, and experience-led value proposition.

The retail, agri, and MSME (RAM) segment of TMB contributed around 90% of the overall advanced portfolio, of which MSMEs constituted around 36%, a significant contribution as reported in the Bank’s Q1 results.

S. Krishnan, MD-CEO, TMB, said, “TMB has embarked on a large-scale digital transformation agenda along with business process re-engineering, and a key milestone will be to bring digital credit products to our MSME customers through technology.”