Satin Creditcare Ventures sets up new subsidiary to offer technology solutions

Microfinance company Satin Creditcare Network has set up a new wholly-owned subsidiary which will offer technological solutions across various industries, a company statement said.

The new subsidiary, Satin Technologies Limited (STL), will operate as an independent entity and will have the freedom to innovate and develop the latest technological solutions, Satin Creditcare Network Ltd (SCNL) said in the statement.

The subsidiary is well-equipped to meet the evolving needs of businesses in the digital age and will offer solutions across industries but not limited to financial services, the city-based microfinance institution added.

STN will develop solutions by leveraging modern technologies like Artificial Intelligence (AI), Machine Learning (ML), and Cloud Computing, its director Rupinder Kalia said.

SCNL is a leading MFI with a presence in 27 states & union territories and around 90,000 villages. It also offers financial products to Non-MFI segment, comprising loans to MSMEs and affordable housing loans.