“With this partnership, Experian is collaborating with BoM to provide innovative solutions throughout the customer lifecycle, enabling BoM to on-board New to Credit (NTC) and New to Bank customers (NTB) and service existing customers efficiently,” the private sector bank said in a statement.
Through these innovative solutions driven on back of technology, Bank of Maharashtra will gain a better understanding of customers’ needs, analyse their risk behaviour, and efficiently manage the credit portfolio, it added.
BoM will avail the services for retail and non-retail clients, including SMEs (Small and Medium Enterprises), MSMEs (Micro, Small, and Medium Enterprises), and corporates. These solutions will also enable the bank’s front-line staff to provide best-in class services to their customers.
With the rise of digital sourcing, lending and servicing, BoM is adopting nextgen systems and processes to create a secure banking ecosystem.
Commenting on the partnership, A S Rajeev, MD & CEO, Bank of Maharashtra said, “This will foster a credit ecosystem which shall help the Bank in establishing a more healthy loan book. This will also help our field functionaries in quality business acquisition with more prudence.””
Asheesh Pandey, Executive Director, Bank of Maharashtra said, “Business acquisition through technology driven analytics will facilitate better understanding of customer needs and improve the business viability of the Bank. This collaboration shall help us boost our loan book with quality assets and become more vigilant about the evolving scenario. This will support our motto of ‘Ease of doing business’.”
Saikrishnan Srinivasan, Managing Director, Experian Credit Information Company of India, said that the evolution of digital lending has created a dynamic and customer-centric environment.
“We are confident that Experian’s innovative solutions coupled with analytics support will assist the bank in building and enhancing their competitive edge in the industry,” he said.