New Delhi, Sept 15 (KNN) Aiming at easing the flow of credit to the Micro, Small and Medium Enterprises (MSMEs) in the country, TAB Capital has announced collaboration with Nucleus Software Company.

Under the collaboration, TAB Capital will be facilitating the Nucleus made FinnOne Neo Cloud package to transform the lending procedure.

The NBFC will now be working on a hundred per cent digital model for lending, making it easier for the MSMEs to apply as well as get their loans processed.

The Pune Based Non-Banking Financial Company (NBFC) Tab Capital in a press statement informed that so far it has extended loans worth 101 crores already; the organization is aiming to accelerate these figures.

Abhay Bhatuda, Chairperson and Managing Director of TAB Capital said that FinnOne Neo Cloud will help TAB Capital via cloud technology reducing time required under various procedures otherwise. It would further help the company assess on-demand scalability, and market-leading security.

The company will also implement Nucleus FinnOne Neo Lending Mobility solutions – mCAS and mCollect – facilitating the use of mobile in loan origination and collections, thereby helping TAB Capital further drive efficiency, reducing both cost and time.

The collaboration is being seen as a vital step towards the under-credited MSME sector.

At present the bank operates in Delhi, Bangalore, Chennai and Hyderabad. The company will be opening 10 new branches across in India soon.

TAB Capital, registered with the Reserve Bank of India offers financial assistance to the under-credited MSMEs in the country.  Also the company claims that it follows a robust mechanism to extend the loans, taking not more than two days to complete the entire process. (KNN/ DA)