Mahindra & Mahindra Financial Services has announced its partnership with CRIF Solutions (CRIF) to offer loans to its customers. This association aims to facilitate quicker loan approval decisions by combining automation and risk analysis.
According to a press release from M&M Financial Services, through this association, it will 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.
Ramesh Iyer, VC&MD, Mahindra Finance, said, '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.”
Raul Rebello, COO, Mahindra Finance, noted that the rule engine platform solution would ensure the customer information captured and consumed by the company’s AI-based scorecards combined with bureau information consistently adheres to the underwriting guidelines.
The entire solution, being a cloud-based offering, will result in quicker approvals across both in-person & online channels, he added.
“Holistic and extensive engagement with credit bureaus is a key agenda as we progress on our path towards a high AUM growth,” Rebello said.
Wilfred Sigler, Senior Director, Market Development & Digital Solutions, CRIF India, said, '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.”
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