Mahindra & Mahindra Financial Services, Mahindra Finance, part of the Mahindra Group, and one of India’s non-banking finance companies, announced that it had partnered with CRIF Solutions to offer a seamless onboarding experience for customers seeking loans.
Through this association, Mahindra Finance would now leverage an automated decisioning platform StrategyOne – a forrester-rated enterprise business rules engine provided by CRIF – 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.
Ramesh Iyer, Vice Chairman and Managing Director, Mahindra Finance, said “This digital solution is a natural fit that 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.”
Raul Rebello, COO, Mahindra Finance, added, “This rule engine platform solution will ensure the customer information we capture and consume 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 and online channels. Holistic and extensive engagement with credit bureaus is a key agenda as we progress on our path towards a high AUM growth”.
Wilfred Sigler, Senior Director, Market Development & Digital Solutions, CRIF India mentioned, “the partnership will help expedite the loan journey, thereby benefiting the company and `borrowers-at-large”.
Mahindra Finance focused on the rural and semi-urban sector has over 8.1 million customers and has an AUM of over $11 Billion. The Company has 1,384 offices and reaches out to customers spread over 3,80,000 villages and 7,000 towns across the country.
Recently, Mahindra Insurance Brokers (MIBL), a subsidiary of Mahindra & Mahindra Financial Services (Mahindra Finance) also inked a strategic partnership with Mad About Wheels (MaW), a brand agnostic electric mobility and automotive solutions provider.
Read More: Mahindra Insurance Brokers inks distributor partnership with Mad About Wheels
