Paul Merchants Finance gets a New Core Banking System from Sesame Software (A Speridian Co)

Paul Merchants Finance in association with Sesame Software (A Speridian Co) implements new LOS and LMS System

CHANDIGARH, India, Sept. 29, 2022 /PRNewswire/ -- Sesame (A Speridian Co) was chosen as the transformation partner by Paul Merchants Finance and has successfully implemented its Beacon Loan Management System and digital lending solution at Paul Merchants finance Ltd. Sesame (A Speridian Co) has equipped Paul Merchants with a Loan Origination system, Loan management system, and digital lending platform.

Paul Merchants Finance has replaced its legacy LOS and LMS system with the state-of-the-art digital platform from Speridian to support its growth strategy. The new system went live in June 2022. The new system, Beacon Banking Solutions will increase business efficiencies, provide faster services, improve the overall customer experience journey, and will help to improve the speed at which newer products and schemes can be launched. The new system will provide faster processing of loans, payments, and data analytics.

The Beacon core system was implemented anticipating the fast expansion and future plans of Paul Merchants Finance Ltd. Paul Merchants Finance currently manages over 2,00,000 customers through its 76 Gold Loan branches across 7 states in Northern India. The new system will support the expansion of its lending arm and the integration of its other businesses like Insurance, Prepaid cards, Money transfer, etc. into one single platform.

"We are a customer centric organisation and we always strive to provide convenience and customer support to utmost satisfaction of the customer. We have partnered with Sesame Software in delivering a world class experience to our customers. Transition to a modern technology platform that will enable us to quickly build customised digital financial products. We are glad to announce the successful implementation of a modern, agile, open platform for uninterrupted financial services," said Mr. Rajneesh Bansal, Managing Director, and Paul Merchants.

"We focus on incorporating the most modern and upcoming technologies in the solution after completing R&D and including all the latest features in solutions and equipping the FI to provide services to its customers through the maximum number of channels with at most transparency, security and with par regulatory compliance", said Mr.Vinod VC. Managing Director, Sesame Software Solutions Pvt Ltd.

Speaking on the occasion Mr. Shaibu Cherian (CEO, Paul Merchants Finance) said, "Upgrading our core system was a big move for Paul Merchants Finance, we have adapted the new system to offer a seamless Omni channel experience to our customer. This will help our vision of becoming one of the most advanced new age financial service provider, we are now equipped to provide on-demand financial products for our customer. We will soon be introducing internet banking and mobile application for 24x7 access to our wide range of services."

About Paul Merchants

Paul Merchants Finance was founded in the year 2010 and it is a fully owned subsidiary of Paul Merchants Ltd, a BSE listed 30years old conglomerate. Paul Merchants Finance has established a strong presence throughout Northern India, in a brief span of time. The company provides quick and easy gold loans under the NBFC license issued by the Reserve Bank of India and is igniting a revolution in India by empowering individuals and small businesses to aspire big with our diverse spectrum of financial services. The company has grown tremendously in recent years. With an opportunity to expand its footprints into newer locations, the company is emerging as one of the fastest-growing Gold Loan companies in the country.

About Sesame, A Speridian Group Company

Sesame Software Solutions Pvt Ltd is a Speridian Group Company that is the fore runners in delivering Banking and financial solutions for the past 25+ years to banks and NBFCs.  Now with a global presence, is providing services to different sectors of the industry such as PSU Banks, Public/private sector Banks, NBFC, Co-operatives.

Contacts:  [email protected] 

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