May 12: North Eastern Development Finance Corporation Ltd. (NEDFi) has partnered with Veefin Solutions Limited to implement a comprehensive digital lending ecosystem aimed at enhancing credit access across the North Eastern Region of India.
Under the multi-year agreement, Veefin will deploy a cloud-hosted suite of digital lending solutions, including a Loan Origination System (LOS), Loan Management System (LMS), and Loan Collection System (LCS). The project will also include dedicated mobile applications for sales and collections, along with a customer portal designed to provide borrowers with a seamless end-to-end digital experience.
The platform will integrate with external systems such as credit bureaus and banking APIs to create a unified and efficient financial services ecosystem.
P V S L N Murty said the technology platform will help NEDFi expand its outreach to entrepreneurs in remote and underserved areas across the Northeast. He added that the mobile-based lending system would enable new entrepreneurs to apply for loans digitally while allowing existing customers to access account-related information through smartphones. The new platform is also expected to support the expansion of NEDFi’s financial product offerings, including working capital revolving loans.
Lemli Loyi stated that Veefin Solutions was selected through an extensive RFP-based process and that its technology solutions met NEDFi’s digital transformation requirements. He noted that the partnership would play a key role in modernizing lending processes and extending advanced financial services across the Northeast region.
Raja Debnath described the partnership as a strategically important project for the company and reaffirmed Veefin’s commitment to building a secure, scalable, and high-performance lending platform to support NEDFi’s long-term growth.
The agreement focuses on strengthening financial inclusion by supporting last-mile credit delivery across the Northeast while ensuring compliance with the Reserve Bank of India’s latest IT governance and outsourcing guidelines. The platform will include end-to-end encryption and real-time security monitoring features.