Altech NuPay, part of the Altron group of companies, has acquired Delter IT Services, a microfinance software development company providing consumer management systems to credit providers.
Delter IT Services currently manages back office integration services for the entire life cycle from loan origination to collections, while ensuring that all regulatory requirements are met and the client is compliant. The payment platform is integrated to the payment and collection services of Altech NuPay ensuring that a business operates effectively and efficiently.
This acquisition is of strategic importance to the Altech NuPay business in that it extends its reach in the microfinance industry while opening opportunities in other industries.
There are typically three major elements to the microfinancing lifecycle for any client, namely: loan management; payments and collections; and credit bureaus.
Altech NuPay currently operates in the payments and collections arena, and now with the acquisition of Delter IT Services, extends its services into the loan management field. While Altech NuPay is not actively involved in the credit bureau space, these services are integrated into Delter IT Services’ Delfin suite of products, meaning that Altech NuPay will now be represented in all elements of the microfinancing lifecycle.