Cognizant to Digitize Cholamandalam For Greater Efficiency
Cognizant has tied up with Cholamandalam Investment and Finance to digitally transform the vehicle finance business operations in order to improve the speed and efficiency of loan origination through recovery. This will help reduce cost, improve business agility, and increase operational efficiency. No financial details were disclosed. The move is aimed at helping the financial services division of Murugappa Group to enhance operational efficiency.
“Cognizant has engaged with CIFC to digitally transform its vehicle finance business operations from loan origination through recovery, in order to reduce costs, improve business agility and deliver an integrated customer experience,” it said in a statement.
As part of the agreement, Cognizant would develop multi- channel applications across mobile, tablets and web platform for the field staff and customers to make real-time decision making and improve productivity.
“For the last few years, Chola has been working on leveraging technology to improve its operating efficiencies and serve its customers better. The tie-up with Cognizant is another such step that will help us strengthen our core operations,” CIFC Managing Director Vellayan Subbiah said.
CIFC currently operates 579 branches across India and with assets under management of over Rs 25,000 crore, it has 7.50 lakh customers.
This programme will enable Chola to work in more collaborative and real-time ways and unlock workforce productivity, Cognizant Vice President (Mobility) Sowri S Krishnan said.
“It will help Chola not only to improve the speed and efficiency of loan origination and recovery, but also build digital capabilities,” Krishnan added.
- Smart City Projects Will See Greater Tech Investments This Year
- Infosys' Nitesh Banga Joins GlobalLogic As COO
- TCS Bets On Business 4.0 To Propel Digital Revenues
- Indian Life Insurers Partner with Cognizant to Develop Blockchain Solution
- Microsoft To Invest $5-Bn On IoT Globally; Bullish On India
- Evry Is Bullish On Indian Talent Pool
- Role Of Investment Bankers For A Successful M&A Deal
- Investment to Implementation – Cutting the Long Journey Short
- Why Companies Need To Invest In Chief AI Officer
- Office Automation Is The New Smart Investment