Bajaj Finance Ltd. (BFL), a subsidiary of Bajaj Finserv Ltd., has transitioned its core lending operations to Pennant Technologies’ PennApps Lending Factory, marking a major milestone in the company’s digital transformation journey.
The move positions Bajaj Finance at the forefront of digital-first lending operations in India, enabling it to manage over 50 million active loan accounts across a diverse portfolio on a modern, cloud-native platform.
The shift from a legacy, monolithic loan management system to the agile and scalable PennApps Lending Factory supports over 27 loan product variants, unifying them on a single digital infrastructure. This transformation enhances operational resilience, reduces loan servicing costs, and delivers streamlined, customer-centric experiences across retail, commercial, and business lending segments.
Rajeev Jain, Vice Chairman, Bajaj Finance, highlighted, “Bajaj Finance is driven by a vision of continuous innovation, operational excellence, and of delivering customer delight using technology. 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.”
Mudit Mehrish, Chief Information Officer, Bajaj Finance, added that the initiative evolved from targeted upgrades to an enterprise-wide overhaul.
“Today, our lending operations run seamlessly on the PennApps Lending Factory, enabling faster innovation and effortless scalability,” he said.
The transformation, one of the largest data migration projects in the global lending sector, includes both secured and unsecured loan portfolios. Pennant Technologies’ platform has earned recognition from global analyst firms such as Gartner, Everest Group, Chartis Research, and NASSCOM for its composable architecture and industry-leading innovation.
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