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Pennant Technologies, an agile, innovative financial technology company delivering future-ready lending solutions to the global banking and financial services industry, today announced it has been named as a Representative Vendor in Gartner Market Guide for Commercial Loan Origination Solutions (CLOSs).

In the report, Gartner posits that “next-generation platform solutions could serve as a blueprint for the future of CLOSs. These platforms function as digital ecosystems, consolidating the services of various fintechs and ISVs onto a unified, data-driven, API-enabled platform. This modular approach enables banks to seamlessly integrate diverse capabilities from top-tier providers, all within a cohesive architectural framework.”

“We are delighted to be recognised in the Gartner Market Guide for Commercial Loan Origination Solutions,” said Pradeep Varma, Director and Co-Founder, Pennant Technologies. “Commercial lending is seeing a rapid transformation, with the growing need among banks and financial institutions to discontinue legacy processes and change old business models. We believe Pennant combines best-of-breed lending technology, deep functional knowledge and extensive experience to help banks streamline their lending operations for accelerated loan origination process, deliver frictionless customer experience and unlock opportunities for newer value streams.” 

According to the report, “CLO solutions enable banks to assess, process, approve and manage lending requests from multiple channels and businesses. Bank CIOs should evaluate solutions based on analytical and workflow capabilities, connectivity features, channel functions, curated APIs, and customization potential.”

Banks and financial institutions using pennApps Lending Factory have reported reduced credit decisioning time, accelerated loan portfolio growth and increased operational cost savings. For instance, an SME lender focusing on supply chain financing saw 40% revenue growth by streamlining their loan origination process (including underwriting, credit rating, and disbursals) and offering flexible loan servicing options such as revolving limit flexibility and flexi-loans providing essential liquidity to their SME customers.

On-Demand Webinar: Discover how Lending in a Box solution on the cloud can help your bank or financial institution adapt and perform at scale.

Request a Demo: We look forward to showing you a demo to showcase the powerful capabilities of our lending platform that has been helping banks innovate, scale and perform.

Gartner, Market Guide for Commercial Loan Origination Solutions, 6 November 2023 (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.

About Pennant Technologies

Pennant Technologies is an agile, innovative financial technology company that powers the lending operations of global banks and financial institutions. Its suite of future ready lending products and solutions offer banks composable features and scalable capabilities to deliver differentiated loan origination, servicing and collections experiences for their customers. Trusted by leading banks and financial institutions in Asia, Pennant’s award winning lending platform has managed more than 14 Million loans and facilitates 100 Million loan transactions per year.

To know more, visit: http://www.pennanttech.com/
Source: BUSINESS WIRE INDIA