Can Fin Homes to invest ₹300 cr in digital transformation platform TEJAS

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Project TEJAS is an enterprise-wide digital transformation programme aimed at further advancing its technology and business capabilities, and symbolises a paradigm shift towards a digital future for Can Fin Homes. | Photo Credit: Image for representation

Can Fin Homes, a public housing finance company promoted and sponsored by Canara Bank in 1987, on Friday announced a significant ramp-up in technology adoption to further enhance customer service and make its lending operations more effective and safer.

To fuel this initiative, the lender has decided to invest close to ₹300 crore in an enterprise digital transformation initiative, Project TEJAS (Tech Enhanced Journey for Agility & Scalability), which aims to transform and modernise the lender’s core activities while synchronising its cloud, data and cybersecurity operations on an integrated and AI-ready platform.

Project TEJAS, according to the company, is an enterprise-wide digital transformation programme aimed at further advancing its technology and business capabilities, and symbolises a paradigm shift towards a digital future for Can Fin Homes.

Project TEJAS represents a fundamental transformation in the way Can Fin Homes operates, serves customers and prepares for future growth, said Suresh Iyer, managing director and CEO, Can Fin Homes.

“By integrating our core applications, cloud infrastructure, data, cybersecurity and digital processes, we are creating a more agile, resilient and scalable organisation. Our focus is to use technology responsibly to simplify customer journeys, strengthen risk management and enable faster, data-led decision-making across the business,” he said, addressing the media.

According to him, the seven-year transformation programme, valued at ₹296.95 crore, including a capital expenditure of ₹100 crore, reflects the scale and strategic importance of the initiative in strengthening the company’s technology capabilities and supporting its future growth.

The transformation spans critical business functions including loan origination and management, collections, deposits, finance and accounts, document management, risk and asset-liability management, HRMS (human resources management system) and enterprise reporting. At the business level, Project Tejas transforms the end-to-end home-loan journey through digitised workflows, faster processing, reduced manual intervention and real-time visibility across operations.

The platform would integrate over 25 fintech partners, enabling instant bureau checks, account aggregator based financial data, rule-based credit assessment, digital collections, customer self-service, real-time status updates and dashboards across risk, operations and sales, he elaborated adding.

The programme has been delivered through a strong consulting, implementation and technology ecosystem comprising PricewaterhouseCoopers, KPMG and IBM. PwC has supported transformation advisory, business-process optimisation, change management and Programme Management Office governance, KPMG has provided specialised assistance across implementation, risk, compliance and functional and technical areas while IBM India would lead end-to-end technical integration across applications, infrastructure, cloud, networking and cybersecurity.

Can Fin Homes’ broader OEM ecosystem includes Pennant Technologies for Loan Origination, Loan Management and Collections; Kiya for Deposits; Astral Infor for Finance & Accounts; Newgen for Document Management; Knight FinTech for Borrowing & Investments and Risk & ALM; Trustt for Aadhaar Data Vault; Workline for HRMS; and Shephertz for enterprise reporting. On the technology side, Amazon Web Services supports cloud and API architecture; Microsoft supports mailing and collaboration; Fortinet and CtrlS support SD-WAN; Motadata supports NOC and IT Service Management; while Bloo and Arcon support Security Operations Centre and Identity and Access Management components.

“Currently, all these ecosystem players exist independently, operating in silos. With the deployment of Project TEJAS, they will converge on a common platform and communicate with each other to make the overall operations of Can Fin Homes faster and safer,” Mr. Iyer claimed.

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