Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys, today announced the successful migration of operations for Cholamandalam Investment and Finance Company (Chola) to the Finacle Treasury solution. This is set to centralize treasury management on a unified web-based platform for Chola, one of India's leading non-banking financial companies (NBFCs). This cloud-based transformation emphasizes Chola's commitment to creating future-ready, digital-first treasury offerings that streamlines treasury operations, enhances automation, and effectively manages risks and compliance, while ensuring financial prudence and stability.
With Finacle Treasury, Chola now has end-to-end coverage for operations across the entire treasury lifecycle, managing various liabilities and investment portfolios. This includes a diverse range of borrowing and funding sources. Chola has also streamlined its fund transfer process, allowing for faster and more efficient management of loans, market borrowings, securitization, as well as interest and tax adjustments. Additionally, the company is enhancing operational effectiveness by automating interest processing, accounting for amendments, and payments processes. For instance, this transformation has reduced the processing time for coupon payout significantly.