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The Lend.In Platform Empowers Banks to Embrace Digital Lending
Ho Chi Minh City, October 15th, KMS Solutions announced the introduction of Lend.In, a next-gen Digital Lending platform, to the Vietnamese market after signing a partnership agreement with Kuliza. This platform is stated to be able to help banks digitize the entire lending process.
According to a report by Accenture and Oxford Economics, 67% of banking executives believe that within the next 5 years, consumers will borrow money, make investments, or save funds through non-bank technology companies.
Lending, despite being but one in many typical banking services, accounts for the lion’s share of banks’ profitability. However, the recent advent of fintech startups has disrupted the lending sector. By providing lending products that can be accessed and used directly via mobile devices, these digital-native players provide a more convenient experience than traditional banks, which are still lagging behind due to cumbersome processes that rely largely on paperwork and manpower.
Owing to the epidemic, if banks refuse to adopt mobile-first development, plus cashless payment methods where customer identity can be verified digitally, they will continue to lose advantages in this digital lending race. Recently, four of the largest banks in Vietnam have announced a decline in revenue since the Covid outbreak.
In the face of changing customer behaviors and sudden market shifts, traditional banks are in a driving need for truly “digital” lending offerings, where automation and speed of disbursement are top priorities.
To help banks digitize their lending products, KMS Solutions has partnered with Kuliza to introduce Lend.In to the Vietnamese market.
As an end-to-end digital lending platform, Lend.In offers a host of next-gen features, supporting a wide range of lending services such as Consumer Lending, SME Lending, or Commercial Lending. Packed with Artificial Intelligence, Machine Learning, and Data Analytics. Lend.In promises to help banks optimize operational efficiency and improve time-to-market while innovating to compete with challenger banks.
“Kuliza’s mission is to drive financial evolution - to go beyond simple digital transformation to create scalable lending solutions through our low-code platform. This technology in the Vietnamese market can help financial institutions create and launch new loan products in just a few weeks” - Kaushal Sarda, CEO of Kuliza.
In addition to the ability to digitize all lending offerings, Lend.In also provides banks with ready-built architecture to add new products, such as business and consumer lending, or lending without collaterals.
Mr. Le Huu Tan Tai, Vice President of Vietnam Business from KMS Solutions said: “Digital Lending is integral to our Digital Banking suite. As a Saas solution that’s customized to the needs of businesses in APAC, Lend.In will help banks and financial institutions approach customers more effectively and adapt faster to the Digital Banking revolution, while at the same time accelerating the speed and reducing the cost of the lending process”.
“Financial institutions in Vietnam are looking for flexible solutions that will allow them to digitize and innovate while also providing a superior customer experience. By partnering with KMS Solutions we are able to help these organizations transform their lending offerings” - Kunal Goel, Senior Vice President, Kuliza.
About KMS Solutions
KMS Solutions works closely with leading software companies across the globe to bring the most advanced and innovative technologies to Asia-Pacific. The focus is to help organizations achieve their business goals through world-class fit-for-purpose solutions and proven industry best practices. KMS Solutions’ success is ultimately measured by the positive impact that it makes on the client’s business.
To learn more about KMS Solutions, visit: https://kms-solutions.asia/
Kuliza is a leading provider of digital transformation and operational intelligence solutions for financial enterprises. Since 2006, Kuliza has executed more than 120 digital transformation projects for global startups and industry-leading global enterprises. Lend.In is Kuliza's flagship lending product, a new-age lending system for banks and lending institutions to increase the overall efficiencies while decreasing the cost and go-to-market time for customers.