Bajaj Finserv Streamlines Loan Approvals With Fiorano

FioranoFiorano Software, a leader in enterprise integration and messaging middleware solutions, announced that Bajaj Finserv Limited, a leading Indian financial services company, has deployed the Fiorano ESB Enterprise Service Bus to automatemanual tasks, scale operations and improve the customer experience.

Bajaj Finserv offers an extensive range of loan and insurance products and services. These products and services are accessed using an EMI (Existing Member Identification) card at various Kiosks located across India. The burgeoning middle-class with high purchasing power and a fast-paced financial marketplace of India required a responsive, consistent infrastructure platform to cater to customer requirements in near real-time. While this was a clear business goal, the slow and cumbersome business applications framework compromised operational efficiency with the risk of frequent breakdowns. It was critical for Bajaj Finserv to streamline and revamp its business processes.

By employing Fiorano’s integration technology, Bajaj has drastically reduced the maintenance and monitoring effort involved in mission-critical processes. With transactions running in real-time at high speed, customers that earlier had to wait for hours together now have their loans approved in matter of seconds. Business processes can now easily be monitored and updated using the Fiorano Studio GUI.

Bajaj Finserv has a vision to become the financial partner to the Indian consumer, whether for finance, investment management, protection or post retirement support, throughout the consumer lifecycle. The key to Bajaj Finserv’s phenomenal success has been its willingness to employ the best technology to meet business needs on a scale unmatched by its peers. Fiorano was chosen by Bajaj after a careful analysis of integration platforms including offerings from IBM and Oracle.