PureSoftware enhances digital lending with Arttha platform

In a significant advancement in the financial technology sector, PureSoftware, a subsidiary of Happiest Minds, has strengthened its foothold in digital lending with its flagship Banking-as-a-Service (BaaS) platform, Arttha. This development was highlighted in a recent press release from PR Newswire, dated 12 December 2024.

The Arttha platform is designed for large banks, financial institutions, and telecommunications companies, facilitating the optimisation of payment and lending processes. It offers a range of products including personal loans, working capital financing, invoice financing, B2B loans, microfinance, and buy now, pay later (BNPL) options. By digitising the entire credit journey, Arttha enhances credit decision-making, effectively mitigates risks, and provides customers with a seamless digital lending experience. The platform currently supports clients across 20 markets, reaching over 150 million users globally.

The success of Arttha has attracted recognition from reputable organisations, with awards such as the “Best Digital Lending Solution” and “Best Banking Services Platform of the Year,” bestowed by The Digital Banker, among others.

Joseph Anantharaju, the Executive Vice President of Happiest Minds, emphasised the platform’s role in enabling customers to scale and innovate. “The Arttha BaaS platform represents our commitment to providing clients with platforms that allow them to evolve and innovate while helping us build a non-linear revenue stream, leveraging acquisitions,” he stated.

Manish Sharma, the CEO of PureSoftware, remarked on the company’s dedicated efforts to transform the financial landscape through efficient technological solutions. “Our advancements in Arttha reaffirm our commitment to providing effective technological solutions that transform the financial landscape,” he said.

Furthermore, Happiest Minds is expanding its presence in Africa with significant client acquisitions, including one of the continent’s largest commercial banks and a major mobile financing service provider. Arttha’s features, such as dynamic loan product configurations and micro-lending capabilities, enhance the flexibility of business teams and accelerate portfolio growth. The strategic partnerships underscore Arttha’s pivotal role as a transformative technology facilitator in digital lending.

Udeet Bhagat, who heads the Arttha division, noted a notable achievement in the African banking sector, stating, “Thanks to Arttha, a large African bank has increased its customer base by 20% and now processes over 100,000 loans per month. This demonstrates how our integrated platform and strong partnerships enable faster and more efficient financial services, making them scalable and future-ready.”

Arttha has positioned itself as a trusted financial technology platform worldwide, assisting large enterprises in adopting digital banking solutions across various sectors, including digital lending, payments, retail banking, SME banking, core banking, and agency banking.

Backed by its proven success and vision for inclusive innovation, Happiest Minds is dedicated to empowering financial institutions in embracing digital transformation to provide value-driven financial services to clients globally. The organisation, headquartered in Bengaluru, India, is recognised for its excellence in corporate governance practices and promotes a “Born Digital. Born Agile” philosophy across diverse industry sectors.

Source: Noah Wire Services