Incedo, an IT services and consulting company, is in talks with several housing finance companies to offer technology solutions, including automation of their mortgage application process, Tejinderpal Singh Miglani, CEO, said.

“We have already, for one housing financing company, built an entire framework for automation of the mortgage application process. We are in talks with more housing finance and mortgage companies in India,” Miglani told BusinessLine .

Under this framework, the entire know-your-customer (KYC) process is conducted online, while the housing finance company can obtain bank statements of prospective customers directly from the banks concerned so as to ensure a smooth verification process.

Automation of mortgage application process is expected to crunch the turnaround time and thereby bring about efficiency in processing

Incedo, which gets 40-50 per cent of its global revenues from the financial services space, is primarily US-focussed and sees India as an “innovation region” for the company.

“From the innovation point of view, India can play a disproportionately high role,” Miglani said.

Miglani said that India has been a “mixed bag” for Incedo, which started its journey in 2011. As much as 10 per cent of its revenues come out of India, he said.

Going forward, this company may look at offering technology solutions to banks in India although there is no immediate plan on this front, Miglani said. Outside India, Incedo already offers technology solutions and services to banks and capital market intermediaries.

srivats.kr@thehindu.co.in

Related Topics
comment COMMENT NOW