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Tata Motors Finance Limited (TMFL) has partnered with NYSE-listed Fiserv Inc to fortify its digital lending capabilities and enable top-notch customer experiences.
To advance its digital strategy and keep pace with rapidly changing customer expectations, TMFL has implemented FirstVision™ from Fiserv, a microservices-based platform-as-a-service with a set of APIs that supports the orchestration of digital user experience.
“We are delighted to collaborate with Fiserv to unlock avenues for innovative last-mile service offerings for our key customers,” said Samrat Gupta, MD & CEO of Tata Motors Finance. “The integration with FirstVision empowers us to offer on-tap digital finance solutions to commercial vehicle operators, covering their operating expenses like fuel, payroll and taxes, lubricants, tolls, insurance, spare parts, repairs, and tyres.”
Also read: RBI to soon issue norms allowing FLDG digital loan arrangements
Furthermore, the tech platform will help TMFL introduce bespoke new-age digital products that solve the dynamic cash flow requirements of the logistics industry.
The flexible architecture, scalability, and open APIs of FirstVision will enable Tata Motors Finance to efficiently develop new products.
Comprehensive features like customer management, seamless lending, collections modules, and rewards capabilities will streamline the company’s digital operations and enhance customer experiences while helping to ensure that compliance requirements are met.
Also read: Digital lending firm Lentra raises $27 million in funding round
“Financial institutions in India remain at the leading edge of digital transformation, and the right combination of capability, infrastructure, personnel, and security enables them to adapt, differentiate and operate more efficiently while providing a transformative experience to customers,” said Ivo Distelbrink, Executive Vice President and Head of Asia Pacific at Fiserv. “Our partnership with Tata Motors Finance underscores the reach of digital transformation.
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