Hyderabad (Telangana) [India], October 10 — Pennant Technologies, a dynamic financial technology company, has been acknowledged as a Category Leader by Chartis Research in the 2024 Market Quadrant Report on Credit Lending Operations. This recognition highlights Pennant’s significant contributions to the evolving landscape of credit lending, emphasizing its innovative solutions tailored for corporate lending, small and medium enterprises (SME) lending, syndicated lending, and private/non-bank credit.
In the report, Pennant’s flagship product, pennApps Lending Factory, received accolades across several key quadrants within the Credit Lending Operations Solutions research. These quadrants include:
- Loan Origination Systems
- Loan Management Systems
- Limits Management Systems
- Collateral Management
- Private and Non-bank Credit Systems
Chartis’ RiskTech Quadrant® framework is pivotal in understanding the market structure and vendor landscape for credit lending operations. This comprehensive evaluation process relies on an extensive independent research methodology, coupled with a precise scoring system that determines which solutions best address an organization’s unique needs. Unlike traditional evaluations that crown a single solution as the best, the RiskTech Quadrant® provides a nuanced ranking system that helps buyers identify the most suitable solutions based on their specific implementation strategies.
The recent report assessed a total of 18 global product vendors, evaluating them on two critical dimensions: Completeness of Offering and Market Potential. The evaluation criteria encompassed a wide array of factors, including platform capabilities, workflow management, integration, and the adoption of emerging technologies, ensuring a thorough assessment of each vendor’s strengths and weaknesses.
“Pennant Technologies continues to expand its product coverage throughout the lending operations space, helping both banks and non-bank lending institutions manage their credit lifecycle better,” commented Anish Shah, Research Director at Chartis. “This growth across various types of institutions, supported by a solid technology infrastructure and domain expertise in the credit lending space, is reflected in Pennant Technologies’ category leader position across all our quadrants.”
In response to this prestigious recognition, Sireesh Patnaik, Chief Product & Technology Officer at Pennant Technologies, expressed his excitement: “We are delighted to be positioned as a Leader in the Market Quadrant, a testament to our vision of reimagining lending. In today’s fast-paced financial landscape, lending businesses are expected to deliver fast, personalised, and seamless loan experiences. With a focus on innovation, scalability, and operational efficiency, our platform—pennApps Lending Factory—empowers financial institutions to transform their lending operations for sustainable growth.”
More Read
The pennApps Lending Factory platform is designed to be a future-ready lending solution that revolutionizes the lending process. By automating complex workflows and reducing manual interventions, the platform significantly enhances operational efficiency from loan origination to servicing and collections. Its highly composable architecture allows financial institutions to quickly design, customize, and launch innovative loan products without requiring extensive IT support, thereby ensuring a faster time to market.
Moreover, the platform offers seamless scalability, enabling financial institutions to effortlessly manage increasing loan volumes while maintaining optimal performance. This capability not only supports institutions in expanding their lending operations but also ensures they can adapt swiftly to changing market dynamics.
In conclusion, Pennant Technologies’ recognition as a leader in the Credit Lending Operations space underscores its commitment to delivering cutting-edge solutions that empower financial institutions. As the industry continues to evolve, Pennant remains dedicated to driving innovation and excellence, helping clients navigate the complexities of credit lending and achieve sustainable growth in a competitive landscape. This acknowledgment from Chartis Research solidifies Pennant’s position at the forefront of financial technology, paving the way for future advancements in lending operations.
