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MUMBAI: Private sector lender Federal Bank on Tuesday said it has tied up with CredAvenue for portfolio management of its securitisation book and implemented CredPool, an institutional debt platform of CredAvenue.

This arrangement, the bank said, will help digitally monitor its asset-backed securities (ABS) and mortgage-backed securities (MBS) pool assets more efficiently through the technology platform.

The partnership entails CredAvenue providing post-transaction fulfilment services and portfolio management for their direct assignment portfolio. CredAvenue’s pooled transaction fulfilment platform has been supporting a host of leading banks, with Federal Bank being the latest addition. The platform helps banks and non-banking financial companies (NBFC’s) meet existing and new regulatory guidelines pertaining to securitisation and direct assignment.

“The bank, in partnership with CredAvenue, has effectively automated the end-to-end processes for direct assignments of retail portfolio. This automation has enhanced the controls over the portfolio while giving us the ability to further scale up our plans for in-organic selective portfolio acquisitions. In CredAvenue, we have found a strong partner and look forward to expanding our relationship with them over the coming years" said Shalini Warrier, executive director and head of retail business, Federal Bank.

Gaurav Kumar, chief executive of CredAvenue, said, the company provides a comprehensive debt ecosystem for originators and provides a complete fulfilment solution for all lenders.

“Our technology has the capability to provide customized solutions based on each bank/lender’s requirements for their portfolio management. Our team ensures a quick and seamless integration with an easy-to-use interface for our partners," said Kumar.

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