Mumbai: Tata Motors Finance Limited (TMFL), a prominent automotive financing company in India, is strengthening its digital lending capabilities and enhancing customer experiences through a new collaboration with Fiserv, Inc. (NYSE: FI), a leading global provider of payments and financial services technology solutions.
To advance its digital strategy and keep up with evolving customer expectations, Tata Motors Finance has implemented FirstVision™ from Fiserv. FirstVision is a platform-as-a-service that utilizes microservices and a set of application programming interfaces (APIs) to support the seamless orchestration of the digital user experience.
‘We are pleased to partner with Fiserv to explore innovative service offerings for our valued customers,’ said Samrat Gupta, MD & CEO of Tata Motors Finance.
‘Through the integration of FirstVision, we are empowered to provide convenient digital finance solutions to commercial vehicle operators, covering various operating expenses such as fuel, payroll and taxes, lubricants, tolls, insurance, spare parts, repairs, and tires. Additionally, this cutting-edge technology platform will enable us to introduce customized digital products that address 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 and launch new products in a cost-effective manner. With comprehensive features like customer management, seamless lending, collections modules, and rewards capabilities, the company's digital operations will be streamlined, resulting in enhanced customer experiences while ensuring compliance with regulatory requirements.
‘Financial institutions in India are at the forefront of digital transformation, and the right combination of capabilities, infrastructure, personnel, and security allows them to adapt, differentiate, and operate more efficiently while delivering a transformative experience to customers,’ said Ivo Distelbrink, Executive Vice President and Head of Asia Pacific at Fiserv.
‘Our partnership with Tata Motors Finance highlights the impact of digital transformation in India, promoting financial inclusion on a large scale with the latest global technology,’ he added.
In a rapidly changing world, Fiserv empowers its clients to provide financial services that align with the way people live and work today — delivering financial solutions at the speed of life.
