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BusinessWire India
Chennai (Tamil Nadu) [India], January 17: Uncia Technologies today announced the go-live of Uncia Chain, its state-of-the-art Supply Chain Finance platform, at Unity Small Finance Bank Limited (Unity Bank), a new-age, digital-first bank. Unity Bank is a scheduled Commercial Bank, offering digital first banking solutions. Its core businesses include Branch Banking, Business Banking, Inclusive Banking and Digital Banking and services over 15 lakh customers PAN India. It commenced operations in November 2021 and in a short span has built a sizeable loan book of over Rs. 7,000 crores and a Deposit base of approx. Rs 5,000 crores. Uncia Technologies is a pure-play SaaS product company in the Digital Lending space, and its digital Loan Origination, Loan Management, and Supply Chain Finance platforms enable efficient processing and accurate daily lending transactions for over 1 lakh crore across banks and NBFCs in India. Uncia Chain, its flagship Supply Chain Finance (SCF) platform, is designed to provide a hassle-free implementation journey for its customers. It offers a feature-rich product suite that houses all business constructs the physical Supply Chain industry looks up to, for its financing needs. It effortlessly manages to handle all functions of a three-party financing construct by bringing buyer, seller and lender in one platform, by providing templatized variations of all onboarding and transaction journeys that occur between these parties. Uncia's ability to be cloud-agnostic, database-agnostic, and efficient in ERP integration constructs, has enabled it to elevate Uncia Chain to a highly configurable, rapid deployment framework. Case in point being the implementation of Uncia Chain for Unity Bank, which was accomplished in less than 100 days. In an industry dominated by one-time license fees and protracted implementation processes, Uncia stands out by offering a set of pre-defined productised services. This novel approach defines Uncia's Go-Live methodology, streamlining the post-Go-Live journey and eliminating the friction associated with exasperating change requests. G.L Kumar, Chief Business Offer - Business Banking, Unity Bank, said, "Unity Bank is committed to delivering a seamless digital banking experience, and this collaboration with Uncia Chain aligns perfectly with our mission. Uncia Chain's robust and agile platform provides us with a seamless and rapid deployment framework. We are particularly impressed with their cloud-agnostic and database-agnostic capabilities, which align perfectly with our vision of collaboration and open architecture." Hari Padmanabhan, Chairman, Uncia Technologies, said, "Reaching this milestone serves as a testament to our steadfast pursuit of excellence and customer satisfaction, achieved by leveraging our pre-configured, highly agile, rigorously tested, and supremely secure SCF platform. One of the most notable accomplishments of this enterprise Go-Live was its migration from the existing platform and completion in less than 100 days. We look forward to working with Unity Small Finance Bank as it leverages the robust capabilities of our platform to support its ambitious plans." (ADVERTORIAL DISCLAIMER: The above press release has been provided by BusinessWire India. ANI will not be responsible in any way for the content of the same)
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