Tata Motors and Yes Bank partner to offer digital retail finance solutions to commercial vehicle customers
Published On Dec 10, 2019
The MOU will offer a superior customer experience through digital synergies for commercial vehicle customers. Through this partnership, both the companies will work towards evaluating the financial needs and packages, which include product structuring, down payment and various other schemes.
Tata Motors, the market leader in the Commercial Vehicles industry YES Bank are partnering to develop digital synergies for offering financial products to its valued customers. Both companies will jointly introduce digital retail finance solutions for the entire range of cargo and passenger carriers, facilitating the easy purchase and ensuring superior operating economics for the end customers.
Tata Motors’ industry-first technology-enabled platform, E-Guru app, helps understand the customers’ business needs to recommend the befitting product as per their requirements. Through this partnership, both the companies will work towards evaluating the financial needs and packages, which include product structuring, down payment and various other schemes. YES Bank will further leverage the E-Guru app allowing it to deliver a superior customer experience with quick approvals across all touchpoints. The MoU also enables customers to avail of attractive financial schemes with minimal formalities.
Speaking on the MOU signing, Rajesh Kaul, Vice President – Sales & Marketing, Commercial Vehicles Business Unit – Tata Motors said, “This is a welcome partnership between two agile and tech-savvy organizations who use technology as an enabler to add value and leverage our common strengths to meet the ever-changing needs of our customers. We are confident of increased reach and help us serve our customers in an efficient and delightful manner.”
Nipun Jain, Group President – National Head Commercial Retail Assets & MIB, YES Bank said, “We are proud to strengthen our partnership with Tata Motors and are delighted to offer their commercial vehicle dealers and customers enhanced convenience through technology. The API based integration has been designed to facilitate real-time document processing for credit assessment, enable customers to get instant in-principle approval and allow real-time tracking of credit status, among other benefits, further aiding Tata Motor’s market penetration. This integration is among the industry first in this segment and is a testament to YES BANK’s commitment to providing best-in-class technology banking solutions to our clients and helping them achieve their objectives.”
Tata Motors offers end-to-end smart transport solutions starting from sub 1 ton, going up to above 55T vehicles in cargo and construct range. The Company also provides the passenger transport range in the country and has the most comprehensive sales and service distribution network of over 3700 touchpoints.