CredAvenue has joined hands with Federal bank for the portfolio management of its securitization book. As a part of the alliance, Federal Bank will digitally monitor its ABS & MBS pool assets, enabled by CredAvenue’s end-to-end securitization and portfolio buyouts and fulfilment solutions platform, CredPool.
Post-transaction fulfilment services are currently manual, and evaluation of asset quality is carried out only at the end of each quarter. Through the partnership, Federal Bank intends to utilize CredAvenue’s technology for real-time evaluation and digital monitoring capabilities for its securitization book.
“The kind of environment we are in, it is always important to look for the right opportunities. Though we have scope to grow via the inorganic route with the right kind of mix, the platform capability is important to manage such a portfolio. This arrangement will help Federal Bank in standardizing and automating the securitization portfolio. Additionally, it will help the bank to evaluate and invest in the right opportunity based on the risk appetite,” said Shalini Warrier, ED & Head Retail Business, Federal Bank.
“We provide a comprehensive debt ecosystem for originators (NBFC’s) and provide a complete fulfilment solution for all the lenders that are associated with us. Our technology has the capability to provide customized solutions based on each bank/lender’s requirements for their portfolio management. Our team ensures a quick and seamless integration with an easy-to-use interface for our partners,” said Gaurav Kumar, CEO, CredAvenue.