BENGALURU — March 17, 2021 — Finflux today signed MoA (Memorandum of Agreement) with Ramaiah Capital, one of India's most iconic brands, as its technology partner. Finflux's remit will include technology strategy and banking technology platform for Ramaiah Capital, focusing on its lead market priorities, with the ambition to accelerate the lending outreach.

Ramaiah Capital is focussing on providing financial services to the underbanked and underbanked segment. Ramaiah Capital has the ethos and spirit of Ramaiah Group.

Ramaiah Group is recognised as a leading education and healthcare brand associated with promoting progressive values since its inception in 1962. It is well-known throughout the industry for its sound commitments in terms of providing world-class Healthcare and Education. Through their work in Healthcare and Education, they seek to move our society towards harmony and inclusiveness.

Finflux and Ramaiah Capital MoA (Memorandum of Agreement)
(Left to Right) Nayan Ambali, Sri. M R Kodandaram Ramaiah, Shri Sridhar Murthy

Nayan Ambali, Finflux's CEO, said: "Finflux is proud to be chosen by Ramaiah Capital, an aspiring iconic brand, to be their technology partner for growth. We admire Ramaiah Capital's strong heritage of commitment to a better society through their work in healthcare and education fields, which are mandatory pillars in an equitable society, have the power to address wellbeing in our community. Through Ramaiah Capital, the focus is on society's third pillar: access to fair and transparent financial services to millions of unbanked and underbanked aspiring Indians. Our team is excited to use the Finflux lending technology platform to deliver the innovative work that will help Ramaih Capital to expedite and expand its services to deserving and needy people."
Sri. M R Kodandaram Ramaiah, Ramaiah Capital's CMD and Trustee of Ramaih Group, said: "Ramaiah has an incredible legacy of delivering extraordinary service in Healthcare and Education. That is not sufficient to build an equitable society. Access to financial services is equally important, and the main pillar in building an equitable society. As we continue to see the tremendous need for fair, transparent and accessible financial services globally, we wanted a technology partner that can deliver the strategic and technological excellence that Finflux has demonstrated time and time again."
Shri Sridhar Murthy, CEO at Ramaiah Capital, commented: "We at Ramaiah Capital are delighted to announce that we have appointed Finflux as our technology partner. This partnership is an important appointment for us and a signal of our intent to work alongside our larger market in a more coordinated and integrated manner while diving into locally relevant consumer insights. At Ramaiah Capital, we fundamentally believe that partnerships are more effective than transactional supplier relationships. We know that through genuine partnership, we are able to build open, transparent relationships that include a shared view of success and shared accountability. Ultimately Ramaiah Capital has been built on the idea that we can create better together. With that in mind, we believe we have found the right partner in Finflux."

Finflux was awarded the business after a competitive pitch with an undisclosed roster of banking and lending technology companies. The review was led on the Ramaiah Capital's side by Shridhar Murthy, with support from the internal team based in Bengaluru. Finflux's pitch included a presentation from technology and new opportunity teams led by Kannan AK and Dhirendra Pratap, Chief Technology Officers of Finflux. It was strategically led by Ashok Auty, Chief Customer Officer, and Chandramouli, Strategy Advisor from Texas.

About Ramaiah Capital

Ramaiah Capital Private Limited is an unlisted private company. It was incorporated on March 06 2019. It is located in Bangalore, Karnataka. It is classified as a private limited company with NBFC (Non-Banking Finance Company) license from RBI (Reserve Bank of India)

About Finflux

Finflux is a cloud lending platform to accelerate lending business transformation. Our vision is to create affordable and equitable financial access to individuals and businesses around the world. Finflux cloud includes a comprehensive suite of products that help manage the entire loan lifecycle. Our product offering provides loan origination, loan management, financial accounting, marketplace integration, app-based lending, alternative data-based credit scoring, dashboards, reporting and analytics. For more information, visit finflux.co

For more information contact:

Finflux / Kannan AK / kannan@finflux.co