Muthoot FinCorp, a non-banking finance company (NBFC), has onboarded Veefin Solutions as their technology partner to begin their supply chain finance (SCF) operations in the country. Through this integration, Muthoot Fincorp will deploy Veefin’s global first, end-to-end stack across all SCF products.
Veefin will empower Muthoot FinCorp by offering its comprehensive suite of supply chain finance (SCF) solutions. This includes onboarding suppliers and vendors, underwriting their loans on the Loan Origination Solution (LOS), and managing transactions on the Loan Management Solution (LMS). All of these are eventually complemented by comprehensive analysis using Veefin’s Reporting and Business Intelligence solution, reads a company statement.
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Talking about the new initiative, Shaji Vargese, CEO, Muthoot FinCorp Ltd, said, “Supply Chain Finance is the need of the hour to help MSMEs borrow using the safest form of lending possible today to avail credit customised to their requirements.”
Raja Debnath, Managing Director, Veefin Solutions Ltd, said, “I hope this partnership will help us become one of the largest players within the supply chain finance market in the country.”
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