Bajaj Finance Ltd., the Indian non-bank lender and part of Bajaj Finserv Ltd., has improved the lending experience for more than 50 million of its users as it transitions from a monolithic loan management system, to a modern, scalable, and agile digital lending platform, having partnered with fintech, Pennant Technologies.
Regulatory complexity, rising operational costs and evolving customer expectations have meant the previous loan management system Bajaj Finance used has now become outdated. Though it did help the company grow previously, the digital demands of the new market prompted a strategic transformation to future-proof its lending operations and deliver enhanced value across the board.
Bajaj Finance has now streamlined its retail, commercial, and business loan operations, enabling it to manage over 50 million loans seamlessly while delivering enhanced agility, operational resilience, and customer-centric experiences across the lending lifecycle.
The transition to pennApps Lending Factory modernised lending operations across various loan products, including consumer finance, retail, housing, gold, microfinance, professional, commercial, loans against property, and corporate portfolios. Now, Pennant’s robust loan management system powers Bajaj Finance’s entire lending ecosystem with agility, resilience, and scale.
Recognised the opportunity for enterprise-wide improvement
“Bajaj Finance is driven by a vision of continuous innovation, operational excellence, and of delivering customer delight using technology,” said Rajeev Jain, vice chairman, Bajaj Finance. “Our partnership with Pennant is enabling us to bring this vision to life through simplified customer experiences, accelerated growth and enhanced value for our stakeholders.”
“What started as a focused engagement to modernise specific lending capabilities quickly evolved into an enterprise-wide transformation and a strategic partnership,” added Mudit Mehrish, chief information officer, Bajaj Finance. “Today, our lending operations run seamlessly on pennApps Lending Factory, enabling us to innovate faster, scale effortlessly, and deliver superior customer experiences.”
The transformation has delivered measurable improvements:
- Scale and flexibility: Managing 27+ loan product variants across more than 50 million loan accounts on a single, composable, resilient platform.
- Operational scale with cost efficiency: Significant reduction in loan servicing costs by transitioning to a unified platform.
Selecting Pennant Technologies
The project involved successfully migrating Bajaj Finance’s entire lending portfolio — spanning secured and unsecured products — making it one of the most significant data migration initiatives in the global lending industry.
With this milestone, Pennant has reinforced its position as a trusted transformation partner for banks and financial institutions, helping them reimagine customer experiences, accelerate time to market, and thrive in a digital-first world.
pennApps Lending Factory has garnered recognition from prominent analysts and industry organisations, including Gartner, Everest Group, Chartis Research, and NASSCOM, for its innovation, scalability, and composability.
“We are proud to partner with Bajaj Finance on this transformative journey,” said Pradeep Varma, founding director and MD, Pennant Technologies. “In a rapidly evolving lending landscape, our mission is to equip financial institutions with platforms that power today’s operations and enable tomorrow’s growth. This transformation is a testament to the strength of pennApps Lending Factory in driving business value.”
