Arttha Propels Digital Lending across Emerging Markets

PureSoftware’s flagship Banking-as-a-Service platform, Arttha, is revolutionizing the digital lending landscape for global banks in Africa and the APAC region. It offers financial institutions a way to streamline lending throughout its entire lifecycle by introducing innovative loan products, making better-informed credit decisions, effectively mitigating risks, and providing a digital-first loan origination experience for their customers.

The importance and potential of digital lending cannot be understated. According to Research and Markets, the global digital lending platform market is poised to grow at a compound annual growth rate of over 20% to surpass USD 27 billion by 2027. Naturally, having a platform that combines cutting-edge technology and robust features with a keen understanding of the evolving needs of the lending industry is essential.

PureSoftware, a leading global software products and digital services company, hits the mark with its flagship banking-as-a-service platform, Arttha. The premise of Arttha is to empower banks and financial institutions to enhance the overall user experience for their customers through cloud-native propositions, such as Core Banking, Loan Lifecycle Management, E-wallet, Digital Payments, SME Banking, and Buy Now Pay Later offerings. Arttha’s no-code-based configurable user interface allows banks to easily create personalized and intuitive customer banking experiences.

Established in 2005, PureSoftware operates across 11 countries, delivering platforms and digital engineering services to transform customers’ lives across multiple industry verticals. Its cloud-native digital banking platform, Arttha, unveiled in 2012, stands out for the role it plays in driving financial innovation for leading global banks across Asia Pacific and Africa.

TRANSFORMING THE LENDING BUSINESS

Arttha’s Lending module is a transformative solution for tier-1 banks grappling with the challenges of innovation while burdened by legacy systems. Similarly, it offers a valuable option for smaller financial institutions seeking a streamlined and cost-effective Software as a Service (SaaS) proposition. Global banks have successfully leveraged Arttha to digitize their entire loan lifecycle, spanning from origination and loan management to processing, disbursement, repayment, and closure. This comprehensive digitization has empowered these institutions to boost their Annual Transaction Volume (ATV), seamlessly onboard new customers, and effectively manage traditional operational costs.

The microservices-based architecture enables banks to deploy customized solutions tailored to their specific needs. This not only streamlines existing lending processes but also empowers technology teams to swiftly launch new user journeys and loan products to the market. This agility benefits both retail and business customers, allowing for a quicker response to evolving market demands.

With Arttha’s dynamic form builder, banks can effectively create customer onboarding forms specific to their end customer segments as well as product profiles. This provides individual and business customers with an intuitive interface where they can provide their details, upload documents, and be assigned credit limits for an omnichannel loan onboarding experience.

The completely configurable product management layer allows product managers to effortlessly create new loan products as per the needs of their customer segments. This helps make the loan journey more seamless and helps banks increase the overall loan book without extending the risk profile. Arttha’s other cutting-edge propositions, including e-wallets, digital payments, and merchant management, reimagine banking experiences as they cater to over 150 million customers globally and achieve concurrent transaction speeds of over 1200 TPS (transactions per second) at peak.

OVER 100 MILLION LIVES TRANSFORMED WITH ARTTHA LOAN MANAGEMENT SOLUTIONS

Across multiple countries in Africa and APAC, Arttha has been enabling global banks and fintechs to offer tailor-made retail and SME lending solutions for their customers. In a traditionally underbanked segment, these institutions have been able to introduce innovative products with a dynamic credit decisioning engine and offer solutions including personal loans, working capital, invoice financing, B2B loans, micro-lending, and BNPL (buy now pay later) products. These bespoke offerings have led to powered digital engagements, streamlined access to working capital finance, and maximized efficiency in the lending process through end-to-end digitization of the credit journey.

To put it in numbers, this Arttha initiative has empowered more than 100 million customers, including major SMEs and 7 million merchants, to get straight-through digital access to financial products, with an average of 500,000 loans processed monthly.

It has been these journeys powered by a fully integrated and cloud-ready platform, strong partnerships, and growing customer support that led to PureSoftware being awarded the esteemed ‘Best Digital Lending Solution’ award for Arttha at The Digital Banker’s 2023 Global Retail Banking Innovation Awards.

With a product roadmap firmly rooted in innovation and an understanding of local nuances, PureSoftware has expanded its reach with teams and partners across North America, Europe, and the Middle-East to introduce the platform and success stories from its current regions to financial institutions globally. Given its success so far, its ambitions are well within reach.

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