PSN Finance to deploy Veefin's digital lending solutions

PSN Finance, part of the PSN Group, has onboarded Veefin Solutions Limited to deploy Veefin's comprehensive suite of digital lending solutions. Under this engagement, PSN Finance will leverage Veefin's Loan Origination System (LOS) and Loan Management System (LMS) across multiple product lines. Additionally, Veefin's LOS - Ezee will also be deployed as part of the engagement.

Originating from Cochin, PSN Group is engaged in fleet management and automobile parts distribution across South India, with a turnover of over ₹1,500 crore. The NBFC arm of the Group commenced lending activities on a limited scale, primarily catering to its employees, and now plans to expand its lending operations substantially by extending credit beyond its internal network. With Veefin's solutions, PSN Finance now aims to significantly expand its loan book across its dealership network and allied small businesses within its ecosystem.

This engagement strengthens Veefin Solutions' position as a trusted technology partner for NBFCs and lending institutions, reinforcing its mission to accelerate digital lending adoption across India.

Shares of Veefin Solutions Limited was last trading in BSE at Rs. 351.70 as compared to the previous close of Rs. 344.85. The total number of shares traded during the day was 11200 in over 25 trades.

The stock hit an intraday high of Rs. 351.70 and intraday low of 343.05. The net turnover during the day was Rs. 3935580.00.

Source : Equity Bulls

Keywords

VeefinSolutions INE0Q0M01015 ITEnabledServices PSNFinance DigitalLendingSolutions