/ -- Muthoot Pappachan Group, popularly known as Muthoot Blue, a diversified conglomerate in the financial services industry, today announced the kick-start of an end-to-end 'Digital Transformation' of its Financial Services business, as a significant part of group-wide business transformation exercise. This transformational journey, aptly branded as Digital Blue, is in partnership with UST Global, a reputed global information technology solutions and services company.
The Digital Blue initiative has been divided under different towers aiming specific outcomes. These towers include IT Infrastructure, all-new Gold Loan platform, new Loan Management System, CRM, Data Warehouse & Analytics; which will all fit into a new enterprise-level architecture. This digital transformation exercise is primarily aimed at easing scalability, building quick and agile decision-making capability, increased productivity and efficiency from business and cost standpoints.
As a comprehensive & complete tech-led transformation, Digital Blue is an intensive & extensive six-year-long journey with the ultimate objective to add wings to Muthoot Blue's Purpose, 'To Transform the Life of the Common-man by improving their Financial Well-being'. With tomorrow's business being technology-driven, digitalization will provide the foundation for sustainable growth, keeping Muthoot Pappachan Group abreast of the rapidly changing environment and staying relevant for the future.
Speaking on the partnership, Mr. Thomas John Muthoot, Chairman and Managing Director, Muthoot Pappachan Group said, "If the unbanked in India were to be a country, it would be the 7th largest country in the world. Real change in the lives of the people in the lower strata of the socio-economic pyramid comes with an improvement in their financial status and hence, Financial Inclusion for more & more of the common man is at the core outcome for us at Muthoot Blue. Digitalization, which helps in detailed, sharp & intimate customer data, in agility, inefficiency, inflexibility and in customer service & experience, therefore, is a key strategic pillar for us. Accordingly, we went with one of the Global Leaders in the tech-business, UST Global and am so very happy to announce the birth of Digital Blue."
Emphasizing on the omnipresent & omnipotent impact of the Digital Blue, Mr. Eugene Koshy, Chief Purpose Officer and the Lead behind the group-wide business transformation exercise of Muthoot Pappachan Group, said, "Our goal of being the preferred financial service provider of choice to the Common Man can only be realized if we digitalize our financial services delivery. Our engagement is such that we are servicing over 100,000 customers every day at 4,200 fully owned branches through 26,000+ employees. Accordingly, we have kept our PURPOSE and our customer at the center of all digital initiatives under this transformation journey. This primarily involves developing a state-of-the-art-infrastructure for cutting edge applications across all our key products and services, which will ensure superior customer service and delight, including all the regulatory compliance as expected from a systemically important NBFC. UST Global was chosen as our partner in this exercise not just because of its global prowess in Technology, but also due to the close alignment & synergy we had in our business culture."
About Muthoot Pappachan Group
About UST Global
UST Global is a technology partner dedicated to transforming businesses, communities, and the people who live within them. Operating in 25 countries, we deliver future-ready digital transformation strategy services, products, and platforms that create new possibilities and help you imagine what's next in banking and finance, healthcare, retail, manufacturing, semiconductor, technology and media. But what matters most is the deep partnership we forge with you to solve the unique challenges you face today, while preparing you for tomorrow. That's us together. That's UST Global. Visit us at www.UST-Global.com