Lentra announced a strategic collaboration with Google to launch its modern SaaS Loan Management System namely, 1LMS on the Google Cloud.
1LMS is built on modern cloud rails and utilizes micro-systems architecture wherein all features and functionalities like KYC, Collateral, etc. are Microsystems. This provides a much-desired agile system vs. the current monolithic architecture where launching new products becomes a tedious process for financial institutions.
Bikram Singh Bedi, Managing Director, Google Cloud, India said, “We are thrilled to support and partner with innovative businesses like Lentra with Google Cloud’s versatile structure and power of data analytics that will modernize the lending systems, enable smooth customer journeys and deliver superior services.”
1LMS has been designed to solve big challenges and needs from the lenders like same loan management system catering to EMI and non-EMI products, ability to scale, no downtime during the end of the day and end of the Month. While designing 1LMS special focus has been paid to the operations staff who at times have to toggle multiple screens to get the requisite information. 1LMS uses a very innovative 1 Screen philosophy to ensure that all the information with regards to a borrower is in one single screen.
Sandeep Mathur, Chief Revenue Officer, Lentra stated, “We at Lentra are striving with the aim to enable lenders to fulfill the demands of millions of their borrowers. 1LMS is a major step in that direction and with our partnership with Google Cloud, we will enable the lending systems for modern institutions and will allow them to quickly launch products, scale, optimize and maximize efficiency. 1LMS being present on Google Cloud enables us to take the solution instantaneously to our global markets.”