Karnataka Bank (KBL) and Northern Arc Capital, one of India's diversified NBFCs and a financial services platform, have entered into a memorandum of understanding (MoU), enabling the bank to offer customer-centric financial solutions to retail borrowers. The nPOS, Northern Arc's technology platform for co-origination, co-lending and pool buy-out aims to enable Karnataka Bank to seamlessly connect with multiple originators for loan origination, underwriting, disbursement, and collection, along with interactive dashboards, proactive nudges, and advanced reconciliation abilities. This collaboration will allow bank to digitally onboard various NBFCs, to lend significant amount of money and onboard a larger customer base as a result of their better consumer outreach.
Karnataka Bank operates as a private sector bank. Its products and services include current account, demand, time, cumulative, cash certificates, insurance linked savings bank deposits, resident foreign currency accounts and senior citizens deposit schemes.
