Tata Motors Finance partners with Fiserv to fortify digital lending capabilities
Tata Motors Finance Limited (TMFL), one of India’s leading auto financiers, is bolstering its digital lending capabilities through a strategic partnership with Fiserv, a global provider of payments and financial services technology solutions.
This collaboration marks a significant step for Tata Motors Finance in delivering an enhanced customer experience and keeping pace with rapidly changing consumer expectations.
Tata Motors Finance, the preferred financial institution for financing the entire range of Tata Motors Commercial Vehicles, has implemented Fiserv’s FirstVision. This microservices-based platform-as-a-service, equipped with a set of APIs, supports the orchestration of the digital user experience, aligning with Tata Motors Finance’s digital strategy.
The integration of FirstVision’s flexible architecture, scalability, and open APIs will allow Tata Motors Finance to effectively and economically develop and introduce new products to the market. It brings together comprehensive features such as customer management, seamless lending, collections modules, and rewards capabilities. These features will not only streamline Tata Motors Finance’s digital operations but will also significantly improve the customer experience while ensuring compliance requirements are met.
Ivo Distelbrink — Fiserv executive vice president and head of Asia Pacific said: “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.
“Our partnership with Tata Motors Finance underscores the reach of digital transformation in India, driving financial inclusion at scale with the latest global technology.”
As digitization continues to reshape the auto finance industry, partnerships like this one demonstrate the commitment of companies like Tata Motors Finance to adopt cutting-edge technology to meet customer demands and stay ahead in the evolving landscape.
Samrat Gupta — Tata Motors Finance MD and CEO said: “We are delighted to collaborate with Fiserv to unlock avenues for innovative last-mile service offerings for our key customers.
“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. Furthermore, the cutting-edge tech platform will help us introduce bespoke new age digital products that solve dynamic cash flow requirements of the logistics industry.”