Mumbai, June 2023.
Tata Motors Finance Limited (TMFL), one of India’s leading automotive financiers, is fortifying its digital lending capabilities and enabling top-notch customer experiences through a new partnership with Fiserv, Inc. (NYSE: FI), a leading global provider of payments and financial services technology solutions.
To advance its digital strategy and keep pace with rapidly changing customer expectations, Tata Motors Finance has implemented FirstVision™from Fiserv, a microservices-based platform-as-a-service with a set of APIs that supports orchestration of the digital user experience.
“We are delighted to collaborate with Fiserv to unlock avenues for innovative last-mile service offerings for our key customers,” said Samrat Gupta, MD & CEO of Tata Motors Finance. “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.”
The flexible architecture, scalability, and open APIs of FirstVision will enable Tata Motors Finance to easily and cost efficiently develop and launch new products to the market. Comprehensive features like customer management, seamless lending, collections modules, and rewards capabilities will streamline the company’s digital operations and enhance customer experiences while helping to ensure compliance requirements are met.
“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,” said Ivo Distelbrink, executive vice president and head of Asia Pacific at Fiserv. “Our partnership with Tata Motors Finance underscores the reach of digital transformation in India, driving financial inclusion at scale with the latest global technology.”