Cholamandalam Investment and Finance launches co-lending biz with technology from Nucleus Software

The solution would help Cholamandalam process the co-lending applications much faster, assess credit risk through a robust framework and ensure compliance with regulatory requirements, a company statement said.

Co-lending would significantly bring down the cost of capital for Chola while helping partner banks reach to new customer segments.

Cholamandalam Investment and Finance Company, executive director, Ravindra Kundu said:"Co-lending is a new direction for Chola but we are confident that this will soon evolve into a very fruitful partnership model for banks and NBFCs."

"Nucleus Software has been our trusted technology partner and their domain expertise ensured that we could roll out the co-lending business quickly," he added.

Nucleus Software Global head core business, Anurag Bhatia said, "Chola enjoys a unique position in the industry today due to its strong focus on always putting customers first and reliance on an inherent value system."