Cognizant drives digital transformation of Chola’s vehicle finance biz

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Chennai: Cognizant today announced that it has engaged with Cholamandalam Investment and Finance Company Limited (Chola), a leading financial services provider in India, 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.

Cognizant is bringing together its consulting, digital strategy, industry and technology expertise to re-engineer business processes and digitize workflows across systems. Cognizant is developing multi-channel applications across mobile, tablets and web for Chola field staff and customers in order to drive real-time decision-making and improve productivity. Through this digital transformation program, Chola will be able to improve customer turnaround time, enhance operational efficiencies, and reduce costs.

Mobile-enabling its workforce will also help Chola boost the efficiency and engagement levels of its field staff, branch managers, dealers and vendors, and digitizing its operations will help reduce human errors and improve the speed and efficiency of loan origination, servicing, and arrears management. To provide Chola better control over its mobile applications, Cognizant has licensed TruMobi™, a suite of ready-to-deploy, on-demand business and IT solutions.

“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,” said Vellayan Subbiah, MD of Chola. “The market we serve is constantly changing, and adopting the latest available technologies is the fastest way of keeping pace with the needs and expectations of our customer segments. We selected Cognizant because of its domain and digital expertise, supported by its industry-leading solutions and platforms.”

Sowri S Krishnan, VP of Mobility at Cognizant said, “This this strategic digital transformation programme will enable Chola to work in more collaborative and real-time ways, and unlock workforce productivity. It will help Chola to not only improve the speed and efficiency of loan origination and recovery, thus enhancing credit quality, but also build digital capabilities and embed the latest innovations in its business to address the needs of the future. By offering greater personalization and convenience, Chola will be able to take integrated customer experience to the next level.”

Kerala IT News

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