HUDCO selects Intellect as their partner to provide an Integrated Digital Solution for lending and ERP in order to drive their digital agenda

Deepthi | Myequity news | Date : 21-02-2019 12:48:00 IST

Housing and Urban Development Corporation Ltd (HUDCO) has selected Intellect Design Arena as their partner for implementation and support of an integrated lending and ERP solution. This includes Digital Lending (Loan Origination, Loan Management, Debt Management), Treasury, General Ledger and Integrated Accounting, Procurement Management and HRMS among other solutions, to centralize their operations and drive a high degree of efficiency across loan lifecycle and ERP function.

HUDCO is a wholly owned government company under the Ministry of Housing and Urban Affairs (MoHUA) mandated to finance urban housing as well as urban infrastructure projects. In its operations, HUDCO lays a considerable emphasis on housing for Economically Weaker Sections and Low Income Groups as the Central Nodal Agency for Credit Linked Subsidy Scheme (CLSS) under "Pradhan Mantri Awas Yojana - Housing for All", a national mission envisioned by our Hon'ble Prime Minister.

The contract signing ceremony held at HUDCO premises in New Delhi was graced by the leadership teams from both HUDCo and Intellect.

Speaking on this partnership, Mr. M Ravi Kanth, CMD, HUDCO said, "We take pride in being a key partner with the Government in building assets for the Nation and this partnership gives momentum to the Digital India initiative as we aspire to promote technology and Digital India in our operations. Looking ahead for a more agile and flexible operations we chose Intellect for their next- gen technology to implement an integrated large scale ERP solution that will give a greater visibility for the management across various segments of our businesses."

Mr. K Srinivasan, President. APAC South Asia, Middle East & Africa, Intellect Design Arena Ltd said: "We take pride to have been chosen as the strategic partner for HUDCO, a premier national level techno-financial organization, a Government-owned corporation of India with an ambitious growth plan of building assets for the Nation. We believe Intellect will plays significant role in driving HUDCO's digital transformation agenda contributing to the Digital India vision."

About Intellect Design Arena Limited

Intellect Design Arena Ltd, a specialist in applying true digital technologies, is the world's first full spectrum Banking and Insurance technology products company, across Global Consumer Banking, Central Banking, Global Transaction Banking (iGTB), Risk, Treasury and Markets, and Insurance.

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