Indian financial infrastructure provider M2P Fintech has introduced a core lending suite to expand its product portfolio, Moneycontrol has reported.
The new offering is aimed at allowing bank and fintech clients to meet regulatory, lending and banking requirements via a single product.
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Speaking to the publication, M2P Fintech co-founder Madhusudanan R said: “The core lending suite is to provide end-to-end management from customer onboarding, loan management, customer underwriting and also payment clearing.
“Typically 10-12 providers that provide these different pieces of tech to a bank or NBFC, we have put that into one offering.”
In the next 12 months, the new offering is anticipated to contribute around 20% to M2P Fintech’s revenue.
The launch comes after a series of acquisitions and investments by M2P Fintech.
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By GlobalDataIt has acquired Origa, a loan recovery platform; Wizi, a credit card infrastructure provider; BSG IT soft, a banking solutions provider; FinFlux, a cloud-lending platform; Syntizen, an identity verification services provider startup and account aggregator Finvu.
M2P Fintech president Abhishek Arun said: “With the core lending suite any lending institution can level up owing to it being a single solution from onboarding to collections to ‘go to market’ strategies.
“This means one could seamlessly build or remove products, solutions, or services on top of their existing systems, depending on the shift in consumer behaviour without affecting business continuity.”
In January this year, the banking technology vendor raised $56m in its Series C1 funding round led by US private equity firm Insight Partners at a $600m valuation.
