Sesame Software provides Paul Merchants Finance with new core banking system

Paul Merchants Finance

Paul Merchants Finance picked Sesame (A Speridian Company) as its transformation partner, and it has successfully deployed its Beacon Loan Management System and digital lending solution at Paul Merchants Finance Ltd. Paul Merchants now has a Loan Origination system, a Loan Management system, and a digital lending platform thanks to Sesame (A Speridian Co).

To complement its expansion ambition, Paul Merchants Finance has replaced its antiquated LOS and LMS system with Speridian’s cutting-edge digital platform. In June 2022, the new system became operational. Beacon Banking Solutions, the new technology, will boost company efficiency, deliver speedier services, better the entire customer experience journey, and aid to accelerate the launch of innovative products and schemes. The new technology will allow for speedier loan processing, payment processing, and data analytics.

The Beacon core system was created in anticipation of Paul Merchants Finance Ltd’s rapid growth and future objectives. Paul Merchants Finance presently serves over 200,000 consumers through 76 Gold Loan locations spread throughout seven Northern Indian states. The new system will help in the development of its loan division as well as the merging of its other companies such as insurance, prepaid cards, money transfers, and so on into a single platform.

“We are a customer centric organisation and we always strive to provide convenience and customer support to the 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 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 par regulatory compliance”, said Vinod VC. Managing Director, Sesame Software Solutions Pvt Ltd.

Speaking on the occasion 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 customers. 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 applications for 24×7 access to our wide range of services.”

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