Bajaj Finserv Streamlines Loan Approvals with Fiorano

Bangalore, Karnataka, India, Tuesday, September 03, 2013 -- (Business Wire
Loan-approval times reduced from hours to seconds 
Fiorano 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. 
About Bajaj Finserv 
Bajaj, a 100 year old industrial conglomerate, diversified into the financial
services business in 2006 by establishing Bajaj Finserv Limited. Over the past 7
years the company has maintained a blistering pace of growth and now manages
over $12.7 billion in assets. Today it is the third most profitable non-bank
financial services company in India and ranks among the top five in the life and
general insurance business.  
About Fiorano 
Founded in 1995, Fiorano is a trusted provider of enterprise integration
middleware, high performance messaging and distributed systems. Global leaders
including ABN AMRO, Federal Bank, Commercial Bank of Africa, Boeing, US Coast
Guard, POSCO, British Telecom, AT&T Labs and Vodafone have deployed Fiorano's
solutions to drive innovation through open, standards-based, event-driven SOA
applications yielding unprecedented productivity. 
Media contact details 
Abhishek Merve,
+91 (080) 40170000, 
Contributed via: Bloomberg Publisher WEB Service 
Provider ID: fe746e0603a74cc2b0c8e09134fa17e2 
-0- Sep/03/2013 13:57 GMT
Press spacebar to pause and continue. Press esc to stop.