Mahindra Finance partners with CRIF to enhance customer onboarding experience

Mahindra & Mahindra Financial Services Limited, (Mahindra Finance), part of the Mahindra Group, and one of India’s leading Non-Banking Finance Company, today announced that it had partnered with CRIF Solutions Private Limited (CRIF) 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.

Speaking on the partnership, Ramesh Iyer, VC&MD, Mahindra Finance, said "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”.

Raul Rebello, COO, Mahindra Finance, added, "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”.

Wilfred Sigler, Senior Director, Market Development & Digital Solutions, CRIF India mentioned, "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”.