Pennant’s innovative pennApps Lending Factory to enable digital scalability and operational excellence for Bajaj Finance Ltd. (BFL) and improved experiences for its 50 million+ active loan customers.
FinTech BizNews Service
Mumbai, May 15, 2025: Pennant Technologies, a leading financial technology company, today
announced the successful completion of a landmark core lending transformation for Bajaj Finance
Ltd., India’s largest non-bank lender and part of Bajaj Finserv Ltd.
The initiative transitioned from a monolithic loan management system to pennApps Lending
Factory, a modern, scalable, and agile digital lending platform. This transformation has
streamlined Bajaj Finance’s 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 a
new-age, cloud-based platform is the largest of its kind implemented in the financial services
sector in India.
“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.”
From Complexity to Simplicity: Unifying Lending on a Single Platform
Previously, Bajaj Finance operated a long-serving loan management system that had
effectively supported its growth for years. However, as the lending landscape evolved — with
increasing regulatory complexity, rising operational costs, and changing customer
expectations — the institution recognised the need for a more agile, scalable, and digital-first
platform. This prompted a strategic transformation to future-proof its lending operations and
deliver enhanced value across the board.
The transition to pennApps Lending Factory marked a significant leap forward, modernising
lending operations across various loan products, including consumer finance, retail, housing,
gold, microfinance, professional, commercial, loans against property, and corporate
portfolios. Today, Pennant’s robust loan management system powers Bajaj Finance’s entire
lending ecosystem with agility, resilience, and scale.
“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.”
Tangible Business Impact Across Lending Operations
The transformation has delivered measurable improvements:
• Scale & Flexibility: Managing 27+ loan product variants across 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.
Strategic Partnership Built for the Future
“We are proud to partner with Bajaj Finance on this transformative journey,” said Pradeep
Varma, Founding Director & 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.”
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.
