Founded in 1978, Cholamandalam Investment and Finance Company Limited (CIFCL/Chola), part of the Murugappa Group, has grown from an equipment financing company into a leading diversified financial services provider. Today, Chola offers a wide portfolio that spans vehicle finance, home loans, loan against property (LAP), SME loans, Secured Business Personal Loans (SBPL), Consumer & Small Enterprises Loans (CSEL), loans against securities, and more. With assets under management exceeding ₹2.07 lakh crore, a network of 1,703 branches across 26 states and 7 Union Territories, and a customer base of over 43.7 lakh, Chola continues to uphold its mission of enabling customers to lead better lives.

In 2018, Chola entered the affordable housing finance market, one of India’s fastest-growing segments. To support this strategic expansion, the company partnered with Uncia Technologies to implement a Loan Management System (LMS) for its Housing Finance business. Despite the complexity of such a rollout, the platform went live in just six to seven months — a record timeline. This rapid deployment allowed Chola to scale its housing finance operations swiftly, and the results were clear: disbursements in the Home Loan segment grew from ₹765 crore YTD in FY18 (Dec) to ₹5,400 crore by FY24 (Dec), highlighting the sustained momentum and portfolio expansion enabled by digitization.

Building on this success, Chola turned to Uncia again in 2019 to revamp its Home Equity business, encompassing Home Loans and LAP. The transformation coincided with the onset of the COVID-19 pandemic — a period of immense operational challenge. Yet, together, Chola and Uncia successfully deployed Uncia LOS and LMS, digitizing the entire customer onboarding and underwriting process. This effort created one of India’s first comprehensive digital ecosystems for LAP. The impact was dramatic: between March FY20 and March FY25, LAP disbursements grew from ₹3,600 crore to ₹18,000 crore, while AUM surged from ₹13,000 crore to ₹41,000 crore.

The partnership deepened further in 2022, when Chola adopted Uncia LOS for its Housing Finance business, integrated with advanced APIs such as Karza, Posidex, and Perfios. This integration streamlined critical steps like KYC, bureau checks, and bank statement analysis, enabling a seamless digital journey from lead initiation to loan sanction and disbursement. The same year, Chola also embarked on modernizing its Corporate and SME Finance businesses, with a strong focus on Supply Chain Finance (SCF). To address the complexity of SCF and other lending workflows, Uncia deployed Uncia FLOW, a next-generation platform built on microservices and designed for flexibility and compliance. Integrated with Uncia Leap for rule management and Uncia Studio for user-driven configuration, the solution enabled Chola to migrate off a legacy SCF platform within five to six months. More importantly, it empowered Chola’s teams to independently configure products and launch new offerings rapidly.

The Chola–Uncia partnership over the past seven years stands as a powerful example of how large financial institutions can embrace digital transformation at scale without disrupting core operations. From housing finance and LAP to SCF and beyond, the collaboration has delivered measurable business results — faster disbursements, scalable systems, and enhanced customer journeys. By leveraging Uncia’s API-driven architecture, configurable platforms, and agile delivery, Chola has not only accelerated growth but also built a foundation for continuous innovation and long-term resilience.

As Aman Sharma, President & Chief Processing Officer at Chola, puts it:

“Over the past seven years, Uncia has been a true transformation partner for Chola — helping us digitize multiple lending businesses with speed, precision, and minimal disruption. From rapid deployments in housing finance to building one of India’s first comprehensive digital LAP ecosystems and modernizing our SCF operations, their configurable, API-driven platforms have empowered our teams to innovate, scale, and deliver exceptional customer experiences.”

Boilerplate

Uncia is transforming the future of lending with its award-winning, AI-driven platforms — PRIME (Loan Origination), LEAP (Loan Management), and FLOW (Supply Chain Finance). Built to be cloud-native, API-ready, and automation-first, Uncia helps banks and NBFCs modernize their lending ecosystems with speed, scale, and compliance at the core. Uncia’s platforms deliver seamless, end-to-end digital journeys that empower customers, unify partners, and accelerate growth.

At Uncia, we live by our vision to “Dare to Go Beyond” — helping financial institutions reimagine what’s possible in lending.

Let’s reimagine the future of lending, together.
👉 Learn more at www.uncia.ai

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