BusinessWire India
Hyderabad (Telangana) [India], February 5: Pennant Technologies, an agile and innovative financial technology company, has been recognized as a Representative Vendor in the Gartner® 2024 Market Guide for Commercial Loan Origination Solutions. The company believes that the recognition reinforces Pennant's focus on delivering future-ready loan origination solutions that help financial institutions streamline and automate lending processes, increase operational efficiencies, and deliver seamless borrower experiences.
According to Gartner, "CLOSs have now generally embraced composable architecture, typically employing independent microservices modules to enable packaged business capabilities (PBCs)."
pennApps Lending Factory (PLF) Loan Origination Solution - a highly configurable and scalable platform - delivers powerful capabilities such as workflow automation, robust third-party API integrations, compliance and regulatory adherence, and end-to-end processes from onboarding to settlement--streamlining operations for a seamless and accelerated 'Time to Yes'.
In the report, Gartner further adds, "The rise of complementary technologies like AI, advanced data analytics, open APIs and low-code/no-code applications has helped set market expectations around improvements such as faster and more accurate decisioning, better fraud detection, and more tailored credit offerings, workflows and user experiences."
"Financial institutions face significant challenges in streamlining their commercial lending operations due to the inherently complex and fragmented nature of the processes," said Sireesh Patnaik, Chief Product and Technology Officer, Pennant Technologies. "pennApps Lending Factory brings powerful capabilities to help financial institutions tailor their loan origination operations to the unique needs of their enterprise and SME customers. In our view, the recognition in the Gartner Market Guide report inspires us to continue building products that empower financial institutions to simplify the lending journey, drive operational excellence, and enhance customer-centricity in their lending operations."
pennApps Lending Factory is specifically designed for financial institutions aiming to achieve operational agility, enhance credit risk management, and deliver seamless customer experiences. Equipped with powerful features such as Advanced Limits Management, Robust Policy Management, and Credit Underwriting among others, the solution effectively streamlines and automates their commercial lending operations.
For more information on pennApps Lending Factory, please visit: https://www.pennanttech.com/lending-factory/.
Gartner, 2024 Market Guide for Commercial Loan Origination Solutions, 9 September 2024 (for Gartner subscribers only). GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
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