Bajaj Finance Shifts Core Lending to Pennant Cloud Platform

Pennant Technologies, a leading financial  technology company, today announced the successful completion of a landmark core lending  transformation for Bajaj Finance Ltd., India’s largest non-bank lender and part of Bajaj Finserv  Ltd. 

The initiative transitioned from a monolithic loan management system to pennApps Lending  Factory, a modern, scalable, and agile digital lending platform. This transformation has  streamlined Bajaj Finance’s retail, commercial, and business loan operations, enabling it to  manage over 50 million loans seamlessly while delivering enhanced agility, operational  resilience, and customer-centric experiences across the lending lifecycle. The transition to a  new-age, cloud-based platform is the largest of its kind implemented in the financial services  sector in India. 

“Finance is driven byBajaj  a vision of continuous innovation, operational excellence, and of  delivering customer delight using technology,” said Rajeev Jain, Vice Chairman, Bajaj  Finance. “Our partnership with Pennant is enabling us to bring this vision to life through  simplified customer experiences, accelerated growth and enhanced value for our  stakeholders.” 

From Complexity to Simplicity: Unifying Lending on a Single Platform 

Previously, Bajaj Finance operated a long-serving loan management system that had  effectively supported its growth for years. However, as the lending landscape evolved — with  increasing regulatory complexity, rising operational costs, and changing customer  expectations — the institution recognised the need for a more agile, scalable, and digital-first  platform. This prompted a strategic transformation to future-proof its lending operations and  deliver enhanced value across the board. 

The transition to pennApps Lending Factory marked a significant leap forward, modernising  lending operations across various loan products, including consumer finance, retail, housing,  gold, microfinance, professional, commercial, loans against property, and corporate portfolios. Today, Pennant’s robust loan management system powers Bajaj Finance’s entire  lending ecosystem with agility, resilience, and scale. 

“What started as a focused engagement to modernise specific lending capabilities quickly  evolved into an enterprise-wide transformation and a strategic partnership,” added Mudit  Mehrish, Chief Information Officer, Bajaj Finance. “Today, our lending operations run  seamlessly on pennApps Lending Factory, enabling us to innovate faster, scale effortlessly,  and deliver superior customer experiences.” 

Tangible Business Impact Across Lending Operations 

The transformation has delivered measurable improvements: 

• Scale & Flexibility: Managing 27+ loan product variants across 50 million+ loan  accounts on a single, composable, resilient platform. 
• Operational scale with cost efficiency: Significant reduction in loan servicing costs by  transitioning to a unified platform. 

Strategic Partnership Built for the Future 

“We are proud to partner with Bajaj Finance on this transformative journey,” said Pradeep  Varma, Founding Director & MD, Pennant Technologies. “In a rapidly evolving lending  landscape, our mission is to equip financial institutions with platforms that power today’s  operations and enable tomorrow’s growth. This transformation is a testament to the strength  of pennApps Lending Factory in driving business value.” 

The project involved successfully migrating Bajaj Finance’s entire lending portfolio — spanning secured and unsecured products — making it one of the most significant data  migration initiatives in the global lending industry. 

With this milestone, Pennant has reinforced its position as a trusted transformation partner  for banks and financial institutions, helping them reimagine customer experiences, accelerate  time to market, and thrive in a digital-first world. 

pennApps Lending Factory has garnered recognition from prominent analysts and industry  organisations, including Gartner, Everest Group, Chartis Research, and NASSCOM, for its  innovation, scalability, and composability.