Village Financial Services (VFS) selects Craft Silicon as a technology partner for digital transformation

Village Financial Services (VFS), a leading NBFC-MFI in Eastern India engaged in the business of lending to women borrowers has announced to enhance its digital journey through Craft Silicon's BR.NET Micro Lending suite.

"We are currently supporting over half a million borrowers across 20,000 villages in 13 states and we expect that by adopting Craft Silicon's new platform, we will not only increase our market presence but will also improve our operational efficiency," said Kuldip Maity, MD VFS.

As part of the new deal, Craft Silicon will provide software for core loan management, Group loan origination, field operations and Analytics.

The new platform will also provide VFS near real-time business visibility to various parameters.

The engagement between the two compes started in early 2020 and despite of COVID-19 situation, successfully went live in Nov 2020. Aiming to keep the commitment towards serving the unbanked people more effectively amid the pandemic situation.

"With VFS entrusting in Craft Silicon, will also help us in expanding our reach and presence in Eastern India. Our team is fully committed to support VFS in their business objectives," said Siva, CEO, Craft Silicon.

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( With inputs from ANI )