Can Fin Homes is embarking on a massive ₹300 crore digital overhaul via Project TEJAS to modernize its lending operations, integrate AI-ready platforms, and enhance customer journeys.

  • Investment of ₹296.95 crore allocated for 'Project TEJAS' over seven years.
  • Focus on integrating cloud, data, and cybersecurity into a single AI-ready platform.
  • Strategic partnerships with global firms including IBM, PwC, and KPMG.
  • Integration of 25+ fintech partners to automate credit assessment and collections.

Can Fin Homes, a prominent public housing finance company sponsored by Canara Bank, has announced a strategic leap toward a digital-first future. The lender is investing approximately ₹300 crore in an enterprise-wide digital transformation initiative titled Project TEJAS (Tech Enhanced Journey for Agility & Scalability). This move is designed to modernize core activities and synchronize cloud and cybersecurity operations.

According to Suresh Iyer, Managing Director and CEO of Can Fin Homes, Project TEJAS represents a fundamental shift in how the organization operates. The seven-year program, valued at ₹296.95 crore (including ₹100 crore in capital expenditure), aims to create a more resilient and scalable organization by eliminating operational silos.

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Why This Matters

BozokMedia analysis shows that the housing finance sector is currently undergoing a 'tech-war' where speed of loan disbursement is the primary competitive advantage. By integrating fragmented systems into a unified platform, Can Fin Homes is reducing manual intervention and enhancing risk management. This transition from legacy systems to an AI-ready infrastructure allows for data-led decision-making that can significantly lower Non-Performing Assets (NPAs).

"The shift from independent software silos to a converged digital ecosystem is the only way for legacy financial institutions to survive the fintech disruption."

The scope of the transformation is comprehensive, covering loan origination, collections, deposits, finance and accounts, and HRMS. The platform will integrate over 25 fintech partners, enabling instant bureau checks, account aggregator-based financial data, and real-time dashboards for sales and risk operations.

To ensure a seamless rollout, the company has engaged a powerhouse of consultants. PwC is handling transformation advisory and change management, KPMG is overseeing risk and compliance, and IBM India is leading the technical integration across cloud and networking infrastructure.

The technological stack is equally impressive, utilizing Amazon Web Services (AWS) for cloud architecture and Microsoft for collaboration. The ecosystem also includes specialized providers like Pennant Technologies for loan management and Newgen for document management. Previously, these players operated independently; under Project TEJAS, they will converge on a common platform for faster and safer operations.

Did You Know?: Can Fin Homes was promoted by Canara Bank in 1987 and has grown into one of India's most trusted housing finance companies.

Frequently Asked Questions

Q1: What is the primary goal of Project TEJAS?
A: The goal is to transform the end-to-end home-loan journey through digitized workflows, reducing manual intervention and enhancing scalability.

Q2: How long will the digital transformation take?
A: Project TEJAS is planned as a comprehensive seven-year transformation programme.