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Mahindra Finance partners with CRIF to enhance customer onboarding experience

"This association is expected to facilitate quicker loan approval decisions, by combining automation and risk analysis," the release said.

August 29, 2022 / 12:30 PM IST
(Representational image)

(Representational image)

Mahindra & Mahindra Financial Services Limited (Mahindra Finance), part of the Mahindra Group, today announced that it has partnered with CRIF Solutions Private Limited (CRIF) to offer a seamless onboarding experience for customers seeking loans.

According to a press release, through this association, Mahindra Finance would now leverage an automated decision making platform StrategyOne. This move is to integrate its customer acquisition channels across multiple retail asset product lines.

"This association is expected to facilitate quicker loan approval decisions, by combining automation and risk analysis," the release added.

"Delivering consistent and convenient customer experiences is an all-important success metric for us at Mahindra Finance. This digital solution is a natural fit which will further improve our onboarding experience levels for customers at the dealer channel, branch as well as the mobile/web digital channels created for customers. We are happy to partner with CRIF and their relevant product lines in this initiative," Ramesh Iyer, VC&MD, Mahindra Finance, said.

Also Read | Mahindra Lifespace crossing $1 billion m-cap proves firm can survive without black money: Anand Mahindra

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"This rule engine platform solution will ensure the customer information we capture and consumed by our AI based scorecards combined with bureau information, consistently adheres to our underwriting guidelines. This entire solution, being a cloud-based offering, will result in quicker approvals across both in-person & online channels. Holistic and extensive engagement with credit bureaus is a key agenda as we progress on our path towards a high AUM growth," said Raul Rebello, COO, Mahindra Finance.

"We are excited about our partnership with Mahindra Finance as we share a common goal of broadening credit access across India. Through the platform, we aim to enable the company to further expand its coverage of loans and offer a convenient and hassle-free onboarding experience. It will help expedite the loan journey, thereby benefitting the company and borrowers-at-large," Wilfred Sigler, Senior Director, Market Development & Digital Solutions, CRIF India, said.

Mahindra & Mahindra Financial Services Limited (Mahindra Finance), part of the Mahindra Group, is one of India’s leading non-banking finance companies.
Moneycontrol News
first published: Aug 29, 2022 12:30 pm
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