Private sector lender Tamilnad Mercantile Bank (TMB) and fintech platform provider, Jocata, have collaborated to offer digital-first lending products for a growing customer base. 

TMB will leverage Jocata’s low-code Digital Lending Platform (DLP) to drive its digital transformation strategy, providing MSMEs with an end-to-end digital, personalised, and experience-led value proposition.  

Jocata is a subsidiary of Billdesk, a business-to-business (B2B) platform that provides end-to-end digital solutions, especially in the micro, small and medium (MSME) sector. On the other hand, TMB's retail, agri, and MSME (RAM) segments contribute around 90 per cent of the overall advanced portfolio, of which the share of MSMEs constituted around 36 per cent.

To cater to the growing MSME segment, the bank is committed to digitising its comprehensive MSME Financing Program, offering both secured and unsecured products covering funded and non-funded facilities. Implementing Jocata’s DLP aims to improve the current process and reduce the total time-to-credit for MSMEs, addressing a key improvement area in servicing the customer while enabling operational ease for the bank.   

S. Krishnan, managing director and CEO of Tamilnad Mercantile Bank Ltd, said, "TMB has embarked on a large-scale digital transformation agenda along with business process re-engineering, and one of the key milestones for us will be to bring digital credit products to our MSME customers through technology. By harnessing the potential to scale digital lending with Jocata’s platform, we aim to grow our presence pan India by delivering a seamless and hassle-free borrowing experience for MSMEs." 

Shailesh Deshpande, director of growth at Jocata, said, “We are delighted to partner with the TMB in their digital transformation journey. Their commitment to digitising their operations, coupled with our state-of-the-art digital lending platform, will boost credit access for MSMEs while aiding in rapid loan book growth for the bank. Jocata's future-ready technology platform and credit expertise align seamlessly with TMB's vision of driving digital inclusion and innovation."