SquareNow for co-operative and Section 8 lenders
If you run a co-operative society, a credit society, or a Section 8 lending company, the board pressure to “go digital” usually arrives without the budget or the IT team to do it the way the largest banks did. Replacing the core banking system is not on the table. Adding 50 IT people is not on the table.
What is on the table: adding a modern lending engine that sits alongside your existing core and goes live in 90 days.
Book a walkthrough for co-op lenders →
What this looks like in practice
SquareNow runs your loan side end to end: digital onboarding for new members, KYC, application, sanction, disbursement, repayment tracking, collections, and reporting. The deposit side stays where it is, on your existing core.
We have built integrations with the major core banking systems used by urban co-operative banks and large credit societies. The integration layer keeps the deposit and lending books reconciled without manual intervention.
Member experience that does not lose to fintech lenders
Fintech lenders are quietly winning your members over with 2-hour onboarding and WhatsApp-first communication. The members who switch are the ones you most want to retain.
SquareNow gives you the same digital onboarding and WhatsApp-led member experience, branded as your institution. Members who would otherwise look at a fintech see your institution offering the same workflow.
Compliance posture
RBI Digital Lending Guidelines, the SRO regime, data localisation, audit trails — all built in. For multi-state and primary urban co-operative banks, the reporting layer maps to RBI’s UCB framework.
For Section 8 lending companies, SquareNow supports the Companies Act compliance overlay (no profit distribution, charitable purpose disclosure) without custom configuration.
What you need to bring
Your existing core banking system details. Your board’s prioritisation between member-onboarding speed, compliance posture, and operating cost. One executive sponsor — typically the Secretary, GM, or IT Head.
We bring the integration playbook with major core banking systems, the audit-readiness checklist, and a 90-day implementation plan.
A 12-month roadmap, not a 12-month project
Most co-operative IT projects run for 18 months and ship at month 24. We run 90 days to first production, with a quarterly roadmap of incremental capability after that. The first 90 days deliver a working lending engine. Quarters 2 and 3 add cross-sell, deeper analytics, and field productivity tools. Quarter 4 is optimisation.
Common questions
Will this disrupt our deposit operations? No. SquareNow is the lending engine. The deposit side stays on your core banking system without modification.
Can we keep our existing branding? Yes. The borrower-facing application is white-labelled to your institution.
What about our existing loan book in the legacy LMS? Migration is part of implementation. We have done multi-thousand-loan migrations from legacy systems within the 90-day window.
Do you support multi-state co-operative banks? Yes. Multi-branch, multi-state, and the regulatory overlay for inter-state operations are supported.