SquareNow vs Cloudbankin
Cloudbankin (by Habile Technologies) is a long-standing Indian LMS, founded in 2008 and headquartered in Chennai. The team has done substantial deployments across NBFCs and we respect what they have built. This comparison is for mid-size NBFCs evaluating both.
Where Cloudbankin is the right call
Cloudbankin is a comprehensive SaaS banking engine covering savings, deposits, loan management, collections, accounting, and mobile banking. If your institution genuinely needs that breadth in a single platform — particularly the deposit and accounting side — Cloudbankin is more complete than SquareNow.
It is a good choice for institutions that do not want to assemble a stack but also do not need the AI-agent operating layer SquareNow leads with.
Where SquareNow is the right call
SquareNow wins on three specific dimensions. First, AI-agent layer: THALA for bucket-1 collections, KYEHR for field officer intelligence, and the underwriting and KYC agents are built in. Cloudbankin has a solid LMS; SquareNow runs the operation. Second, deployment economics: SquareNow goes live in 4 to 6 weeks vanilla. Third, mid-size NBFC and Tier-0 startup NBFC fit: our pricing tiers explicitly cover the lower end of the market in a way that legacy LMS platforms do not.
Architectural differences
Cloudbankin is a more traditional banking engine architecture, mature and stable. SquareNow is built around the AI-agent layer as the primary operational differentiator.
For institutions where the LMS is just one component of a banking platform that includes deposits, Cloudbankin’s breadth wins. For institutions where lending operations is the entire business and AI-driven cost-out is the goal, SquareNow wins.
How to decide
If you need a full banking engine including deposits, look at Cloudbankin first. If lending is your business and operating cost reduction is your goal, look at SquareNow.
If your situation has elements of both, demo both teams and compare the AI-agent layer side by side. The difference shows up there.