Pennant Technologies joins IBM Z and Cloud Modernization Center to help banks and financial institutions accelerate their journey to hybrid cloud

Hyderabad (Telangana) [India], December 21 (ANI/BusinessWire India): Pennant Technologies, a leading FinTech company delivering solutions designed to be future-ready to the global banking and financial services industry, today announced it has joined the IBM Z and Cloud Modernization Center, a digital front door comprised of tools, training and ecosystem partners to help global banks and financial institutions accelerate the modernization of their applications, data and processes in an open hybrid cloud architecture.
Pennant will offer its end-to-end Lending suite, pennApps Lending Factory, and associated product modules to help customers address their core business needs of delivering differentiated customer experience, speed to market and increased operational efficiency.
pennApps Lending Factory (PLF) is a comprehensive, state-of-the-art lending platform built on Pennant's next generation Application Framework. Leveraging the novel concept of functional factories and business process driven execution engines, Lending Factory's product architecture aims to deliver the appropriate modularity, flexibility and componentisation for customers including banks and financial institutions to help them define, deploy and manage the business processes without dependency on a vendor or internal technology teams. The product's customer base includes leading banks and top mortgage companies across Asia.
According to a recent IBM Institute for Business Value survey, "The hybrid cloud platform advantage," the value derived from a full hybrid, multi-cloud platform technology and operating model at scale is 2.5 times the value derived from a single platform, single cloud vendor approach.
"We are excited to collaborate with IBM to help deliver differentiated business value to our clients," said Rama Krishna Raju, Director and CEO, Pennant Technologies. "We believe the combination of pennApps Lending Factory suite with IBM Z and Cloud Modernization Center can help enable our banking and financial services clients to transform their lending operations to help unlock value and accelerate business outcomes."
The IBM Z and Cloud Modernization Center brings together IBM's decades of experience with innovative IBM methodologies, tools, training, global systems integrators and technology partners to create and execute a roadmap that is engineered to lower risk and maximize business value.
The Center offers clients a one-stop digital interface to schedule briefings, connect with partners, join workshops, speak to personnel with extensive domain experience and much more, designed to help clients fully realize and extend the value of their IBM Z environments. This interactive client digital journey showcases comprehensive access to resources, capabilities and guidance for business professionals, IT executives and developers alike. Through the Center, clients will gain access to a partner learning hub, including resources from Pennant Technologies on its Lending Factory platform, related solutions and capabilities.
"The pressure for organizations to accelerate transformation for speed and efficiency is greater than ever," said Meredith Stowell, VP, IBM Z Ecosystem. "Collaborating with ecosystem partners like Pennant Technologies as part of the IBM Z and Cloud Modernization Center provides innovative capabilities and expertise to help joint clients in the design and execution of their modernization strategies."
Pennant Technologies is part of IBM's partner ecosystem to help IBM Z clients accelerate the in-place modernization of their applications, data and processes in an open hybrid cloud architecture.
For more information on pennApps Lending Factory on IBM Z and LinuxONE, please visit: http://www.pennanttech.com/2021/12/02/pennapps-lending-factory-ibm-z-linuxone/
For more information about the IBM Z and Cloud Modernization Center, please visit: https://ibm.biz/zandcloud
For more information on pennApps Lending Factory, visit: http://www.pennanttech.com/lending-factory/
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