Migmg news
Lucknow: Bank of Maharashtra has announced a strategic partnership with Experian India to provide comprehensive services such as credit risk, advanced analytics and fraud prevention.
With the introduction of digital technology in sourcing, lending and servicing, BoM as a renowned public sector bank, adopts next generation systems and processes to create a secure banking ecosystem. With this partnership, Experian works with BoM to provide innovative solutions throughout the customer lifecycle, for BoM, new to credit (NTC) and new to bank customers (NBT) and existing customers. To be able to efficiently provide services from.
Through these innovative technology-driven solutions, Bank of Maharashtra will gain a better understanding of customer needs, analyze their risk behavior and effectively manage the loan portfolio. BoM will use the services for retail and non-retail customers, including SMEs (Small and Medium Enterprises), MSMEs (Micro, Small and Medium Enterprises) and corporates. These solutions will also enable the bank’s frontline staff to provide best-in-class services to its customers.
Commenting on the partnership, A.S. Rajeev, MD & CEO, Bank of Maharashtra said, “It will foster a credit ecosystem that will help the bank establish a healthier loan book. This will also help our field officials to ensure quality business with greater discretion.”
Ashish Pandey, CEO, Bank of Maharashtra said, “Engaging the business through technology-driven analytics will enable a better understanding of customer needs and improve the bank’s business viability. This collaboration will help us grow our loan book with quality assets and be more alert to the evolving landscape. This will support our motto “Ease of Doing Business”.
read this too
Saikrishnan Srinivasan, Managing Director, Experian Credit Information Company of India, said, “The evolution of digital lending has created a dynamic and customer-centric environment. Bank of Maharashtra is investing in state-of-the-art technology to strengthen its customer base and improve the efficiency of its operations. We are confident that Experian’s innovative solutions, together with analytical collaboration, will help the bank build its competitive advantage and stay ahead of the industry.”
The mission of both organizations is to unlock the potential of data and provide one-stop solutions for the entire customer lifecycle. Credit and risk management solutions have helped banks understand and assess the creditworthiness of their customers, resulting in reduced default risk, increased profitability and improved access to credit.