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Business Standard
12 hours ago
- Business
- Business Standard
CreditAccess Grameen enhances operational efficiency and accelerates time-to-market for digital business solutions with Mendix low-code platform
PRNewswire Bengaluru (Karnataka) [India], August 19: Today at Realize LIVE Asia-Pacific 2025, Mendix, a Siemens business, announced a strategic partnership with CreditAccess Grameen Limited (NSE: CREDITACC) (BSE: 541770) ('CA Grameen'), the country's largest Non-Banking Financial Company-Micro Finance Institution (NBFC-MFI). The partnership aims to accelerate CA Grameen's digital transformation efforts using the Mendix low-code platform, developing a suite of custom applications that addresses operational challenges and drive growth. Leveraging Mendix's low-code capabilities, CA Grameen developed and deployed a customised application in quick span, significantly reducing operational bottlenecks in the auditing process. Besides contributing to significant cost savings and improved business agility, access to Mendix's low-code capabilities also empowers them with the ability to rapidly innovate and accelerate time-to-market for transformational business solutions. For CA Grameen which operates across the length and breadth of the country with over 2,000 branches, it is paramount to maintaining its competitive edge in a competitive financial landscape and enabling it to effectively serve more than 4.5 million customers. India's financial sector is undergoing a rapid digital evolution, driven by public sector efforts that encompass digital infrastructure, financial inclusion schemes, and regulatory reforms among others. Given India's burgeoning digital economy, transitioning to digital workflows and fostering innovation is no longer optional but essential for sustained long-term growth. This was the impetus behind CA Grameen's selection of Siemens' Mendix platform to empower its digitalisation journey by enabling quick time-to-market for new solutions, strengthening collaboration between business and IT functions, and supporting the adoption of a modern/future-ready architecture. CA Grameen's digital transformation with Mendix began with a branch auditing solution, improving the audit process quality and setting the stage for broader innovation. The application development process, from ideation to production, took just six months, showcasing the rapid application delivery capabilities of the Mendix platform. Deployed on the cloud with support from technical implementation partner, Mx Omega Technologies, the new application enabled critical audit data to be compiled and made available in real-time, significantly improving decision-making and responsiveness when any issues or anomalies are identified. Commenting on this partnership, Mr. Sudesh Puthran, Chief Technology Officer of CreditAccess Grameen, said, "Mendix has provided us a strong foundation for accelerating our digital transformation journey. As a new-generation low-code platform, it enables us to automate and digitise business processes faster, while fostering seamless collaboration between IT and business teams. At CA Grameen, our vision is to create a scalable and agile driven organisation where technology empowers people and processes. This partnership has already delivered impact by reducing the audit cycle from 45 days to 38 days, helping boost field productivity by focusing on value-added tasks and deliver faster & more accurate reporting. Through strategic investments in technology, we are building the digital capabilities needed to drive innovation and support sustainable long-term growth." Beyond the branch auditing solution, subsequent applications at CA Grameen developed with Mendix's low-code solutions are envisioned to further optimise field operations, customer onboarding, loan management, and various other core business functions, demonstrating Mendix's versatility in addressing diverse enterprise needs. "The rapid development and deployment of CA Grameen's branch auditing application is a powerful testament to the transformative power of low-code in the financial sector," said Mathew Thomas, Vice President and Managing Director for India, Siemens Digital Industries Software. "In a market as dynamic and competitive as India, the ability to quickly adapt, innovate, and move away from legacy, manual processes is non-negotiable for growth. Mendix provides the agility and speed needed to meet these demands, allowing financial institutions to focus on their core mission of serving customers." Media Contact: Siemens Digital Industries Software PR Team Email: About CreditAccess Grameen Limited: CreditAccess Grameen Limited is a leading Indian microfinance institution headquartered in Bengaluru, focused on providing micro-loans to women customers predominantly in rural areas across India. The Company is now operating across 433 districts in 16 states (Andhra Pradesh, Bihar, Chhattisgarh, Goa, Gujarat, Jharkhand, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Odisha, Rajasthan, Tamil Nadu, Telangana, Uttar Pradesh & West Bengal) and one union territory (Puducherry) through 2,114 branches. The Company's Promoter is CreditAccess India B.V., a multinational company specializing in micro and small enterprise financing. It is backed by institutional investors and has a micro-lending experience in India of more than a decade. About Mendix: Mendix, a Siemens business, is the only low-code platform designed to address the full complexity of enterprise software development challenges. Deploying point solutions to departmental problems solves things at a micro level--but if you want to make a significant impact on your business, you need to go bigger and build powerful portfolios that move the needle sustainably and strategically. With Mendix, enterprises can take on more complex, transformational initiatives by engaging everyone in capturing requirements, forming ideas, and embedding value assessment throughout the lifecycle of the software portfolio. Focus on the right problems while relying on governance and control to avoid unnecessary risk. Mobilize your organization. Build the change readiness muscle. And when the next big idea drops, turn it into an outcome quicker.
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Business Standard
10-06-2025
- Business
- Business Standard
CA Grameen raises $100 mn via multi-currency syndicated loan facility
CreditAccess Grameen Limited announced on Tuesday that it has raised $100 million through a social loan from international banks, in a first-of-its-kind multi-currency loan raised in Japanese yen and US dollars. The transaction came under the external commercial borrowing (ECB) route of the Reserve Bank of India (RBI), which means the bank did not require any approval from the central bank. The funding comes through a syndicated loan facility, meaning multiple banks pooled in to provide the loaned amount. Most of these banks are from South Asia and Far East Asia. The company initially planned to raise $70 million, but amid oversubscription from seven banks, the amount was increased to $100 million. 'The social loan shall adhere to CA Grameen's Social Loan Framework, which aligns with the Social Loan Principles 2023, stipulating the use of proceeds, social development goals, and governance, according to the Loan Market Association,' the company said in a statement. Nilesh Dalvi, Chief Financial Officer, CreditAccess Grameen, said that the borrowing cost in this transaction is highly competitive, lower than their average cost. 'It is deeply affirming to close our second syndicated social loan facility, and notably, the first in a multi-currency form, amounting to $100 million. The all-in borrowing cost of this transaction is highly competitive, comparable to domestic borrowing rates, and lower than our average cost of borrowing,' he said. 'We are confident of building on this momentum towards our dedicated target of 25–30 per cent foreign borrowings by FY28 to achieve geographic diversification, enhanced ALM position, and robust liability profile,' he added. Surya Bagchi, Global Head - Financing Solutions, Standard Chartered Bank, said the loan was structured to facilitate the first-time lenders to CreditAccess Grameen. 'The syndicated term loan was structured to meet their bespoke requirements and our well-crafted, intensive syndication process enabled us to successfully complete bookbuilding using first-time lenders to CA Grameen - a testament to our deep understanding of the international syndication markets,' he said.
Business Upturn
10-06-2025
- Business
- Business Upturn
CreditAccess Grameen secures $100 million multi-currency syndicated social loan facility
By Aman Shukla Published on June 10, 2025, 16:23 IST CreditAccess Grameen Limited (NSE: CREDITACC, BSE: 541770), India's largest NBFC-MFI, has successfully raised a USD 100 million multi-currency syndicated social loan facility. This landmark transaction marks a pioneering moment in the Indian microfinance sector as the first-ever social loan facility qualifying as an External Commercial Borrowing (ECB) under the automatic route of the Reserve Bank of India (RBI). The facility, denominated in Japanese Yen (JPY) and United States Dollars (USD), was secured primarily from leading banks across South Asia and the Far East. It reflects growing international investor confidence in CA Grameen's strong ESG (Environmental, Social, and Governance) credentials and its mission-driven operations. This is the second syndicated loan arranged by Standard Chartered Bank for CA Grameen. The bank had previously led the Company's $200 million ECB in 2023. This new social loan strictly adheres to CA Grameen's Social Loan Framework, aligned with the globally recognized Social Loan Principles 2023, and has been validated by Sustainalytics for its credibility and developmental impact. Initially launched with a base size of USD 70 million in November 2024, the offering saw robust interest and was oversubscribed, closing at USD 100 million from a consortium of seven banks. Notably, the funding includes significant commitments from Japanese and Korean financial institutions. Proceeds from the facility will be allocated to eligible social impact projects, further empowering CA Grameen's efforts to support underserved communities and promote sustainable, inclusive growth across India. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
