Everest Group Names Pennant Technologies as a Major Contender in Consumer Loan Origination Systems PEAK Matrix® Assessment 2022

HYDERABAD, India, Jan. 19, 2022 /PRNewswire/ -- Pennant Technologies, a leading FinTech company delivering solutions designed to be future-ready to the global banking and financial services industry, today announced it has been positioned as a Major Contender in Everest Group's PEAK Matrix® Assessment for Consumer Loan Origination Systems. The company's lending platform, pennApps Lending Factory, was evaluated and assessed on two dimensions: market success and delivery capabilities. In the PEAK Matrix report, Everest Group assessed 23 technology providers, from across the globe, on their consumer Loan Origination Systems.

"The Lending industry is undergoing a tectonic shift in the way customers are engaged and serviced," said Rama Krishna Raju, Director and CEO, Pennant Technologies. "Banks and Financial Institutions need to leverage emerging technologies to effectively modernize their lending operations. Everest Group's recognition reinforces our lending platform's strong, future ready capabilities to help financial institutions deliver personalised customer experiences, boost operational agility and drive market growth."

pennApps Lending Factory, a single end-to-end lending platform including loan origination, leverages a unique concept of functional factories and business process driven execution engines to deliver the required modularity, flexibility and componentisation.

"pennApps Lending Factory is built on our next generation Application Framework," said Pradeep Varma, Director and Co-Founder, Pennant Technologies. "The product's future ready architecture and high configurability provides unparalleled flexibility for our customers to adapt their lending operations to the dynamic needs of the market including meeting regulatory requirements and compliance and technology advancements. This enables banks and financial institutions drive innovations and achieve speed to market."

By leveraging strong banking domain expertise and technology leadership, Pennant builds products with a specific focus on future-ready architecture, high product configurability and comprehensive APIs capability for an extended digital ecosystem. Some of the successful Lending Factory implementations include:

• Deployed one of the largest multi-segment lending platform, encompassing the end- to-end lending lifecycle, for a large non-banking finance company in India
  
• Implemented a greenfield loan origination system for a leading Industrial House entering the financial services market in India

The PEAK Matrix provides an objective, data-driven assessment of service and technology providers based on the overall capability and market impact across different global services markets. The resulting matrix categorizes providers as Leaders, Major Contenders, and Aspirants.

To access the report, please click here.

For more information on pennApps Lending Factory, visit: http://www.pennanttech.com/lending-factory/

About Pennant Technologies

Pennant Technologies is an agile, innovative FinTech company that delivers future ready, easily adaptable and configurable products and solutions for global banks and financial services companies. Our customer-centered approach and market-centered innovation help our clients transform their business operations, deliver differentiating customer experiences and drive competitive advantage. We provide agile software solutions for managing customer experience, lending operations, payment processing systems and specialised Islamic banking solutions.

Founded in 2005, Pennant Technologies is headquartered in Hyderabad, India and has offices and technology centers in UK, Dubai, Hyderabad and Visakhapatnam. To know more, visit: http://www.pennanttech.com/

Media Contact

Shrinivas Krishna Rao
Pennant Technologies Pvt. Ltd.
[email protected]