BusinessWire India
Hyderabad (Telangana) [India], October 10: Pennant Technologies, an agile and innovative financial technology company, today announced it has been positioned as Category Leader by Chartis Research in the 2024 Market Quadrant Report on Credit Lending Operations. The report outlines the current state of the market and vendor landscape for credit lending operations, focusing on products offered in corporate lending, small and medium enterprise (SME) lending, syndicated lending and private/non-bank credit.
Pennant's product - pennApps Lending Factory - was recognised as the Category Leader across multiple quadrants of the Credit Lending Operations Solutions research namely:
* Loan Origination Systems
* Loan Management Systems
* Limits Management Systems
* Collateral Management
* Private and Non-bank Credit Systems
This report uses Chartis' RiskTech Quadrant® to explain the structure of the market. The RiskTech Quadrant® derives from a comprehensive methodology of in-depth independent research and a clear scoring system to explain which solutions can meet an organisation's needs. The RiskTech Quadrant® does not simply describe one solution as the best; rather, it has a sophisticated ranking methodology that shows which solutions would be best for particular buyers, depending on their implementation strategies. A total of 18 global product vendors participated in the research and were evaluated across two dimensions of Completeness of Offering and Market Potential encompassing multiple criteria including Platform capabilities, Workflow Management and Integration, and adoption of emerging technologies among others.
"Pennant Technologies continues to expand its product coverage throughout the lending operations space, helping both banks and non-bank lending institutions to manage their credit lifecycle better," said Anish Shah, Research Director, Chartis. "This growth across various types of institutions, supported by a solid technology infrastructure and domain expertise in the credit lending space, is reflected in Pennant Technologies' category leader position across all our quadrants."
"We are delighted to be positioned as a Leader in the Market Quadrant, a testament to our vision of reimagining lending," said Sireesh Patnaik, Chief Product & Technology Officer, Pennant Technologies. "In today's fast-paced financial landscape, lending businesses are expected to deliver fast, personalised and seamless loan experiences. With a focus on innovation, scalability, and operational efficiency, our platform - pennApps Lending Factory - empowers financial institutions to transform their lending operations for sustainable growth."
pennApps Lending Factory is a future-ready lending platform that transforms lending operations by automating complex workflows, reducing manual interventions, and significantly enhancing operational efficiency from loan origination to servicing to collections or debt management. The platform's highly composable architecture empowers financial institutions to rapidly design, customise, and launch innovative loan products without the need for extensive IT support, ensuring faster time to market. It offers seamless scalability, effortlessly handling growing loan volumes while maintaining peak performance and enabling institutions to expand their lending operations with ease.
For more information on pennApps Lending Factory, please visit: https://www.pennanttech.com/lending-factory/
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