Chola modernises treasury operations with Infosys Finacle

Infosys Finacle has announced the successful migration of Cholamandalam Investment and Finance Company Limited (Chola) to its cloud-based treasury solution, aiming to modernise the company's operations.

The migration centralises Chola's treasury management on a unified web-based platform, which is expected to enhance trading, risk management, and operational efficiency. This transformation reflects Chola's strategy to develop digital-first treasury offerings that efficiently manage risks, compliance, and automation.

Chola now benefits from end-to-end coverage across its entire treasury lifecycle, managing various liabilities and investment portfolios through the new system. By streamlining the fund transfer process, Chola anticipates more efficient management of loans, market borrowings, and other financial operations, including the automation of interest processing.

Ravindra Kumar Kundu, Managing Director at Cholamandalam Investment and Finance Company Limited, stated, "We at Chola are delighted to embrace Finacle's next-generation Treasury solution. This marks a pivotal step in our treasury transformation journey. Managing the growing and diverse liability book including short- and long-term borrowings and the investment portfolio including government securities Liquidity Coverage Ratio (LCR) has been both a challenge and a priority. The Finacle Treasury platform equips us with the tools to address these challenges, improve operational efficiency, and enhance risk management, all while adhering to stringent regulatory frameworks. This transformation strengthens our ability to optimize funding strategies and scale treasury operations in alignment with our growth ambitions."

Infosys Finacle's Chief Business Officer and Global Head, Sajit Vijayakumar, commented, "We are delighted to partner with Chola in their mission to modernize treasury operations. The NBFC sector in India stands at a critical juncture, facing increasing compliance requirements and elevated funding costs. Our collaboration with Chola highlights our commitment to delivering a cloud-first multi-asset treasury solution that meet the current and future requirements of the industry. This collaboration further reinforces Finacle's reputation as a trusted partner for NBFCs, empowering them to innovate, streamline, and scale their operations confidently."

The alliance between Infosys Finacle and Chola is seen as a strategic move for both entities, particularly given the evolving regulatory and economic landscape facing non-banking financial companies (NBFCs) in India today.