Mahindra Finance and IBM Partner to Develop Financial Super App

IBM and Mahindra & Mahindra Financial Services Limited (Mahindra Finance) have joined forces to create a super app designed to act as a single digital gateway for consumers to access Mahindra Finance’s various financial services. The app aims to provide 24×7 digital access for both metro and non-metro consumers, enabling them to manage a wide range of financial products and services including loans, insurance, and investment solutions through a unified platform. This partnership leverages IBM’s expertise in consulting, industry, and technology to enhance customer experience and support Mahindra Finance’s growth in vehicle and non-vehicle financial sectors.

Key Highlights:

• The super app will serve as a single digital platform for accessing a broad spectrum of financial services offered by Mahindra Finance.
• IBM’s role includes consulting and employing hybrid cloud capabilities to ensure a secure, scalable, and resilient digital architecture for the app.
• The initiative is expected to enhance operational efficiency, customer engagement, and introduce hyper-personalized financial solutions.
• Mahindra Finance aims to leverage digital innovation to strengthen its position as a preferred financial solutions provider in India.

Raul Rebello, the MD & CEO-Designate of Mahindra Finance, emphasized the strategic importance of the super app in accelerating the delivery of digital financial solutions and supporting the company’s growth. He highlighted the app’s potential to offer hyper-personalized solutions and enhance customer service efficiency.

Rishi Aurora, Managing Partner at IBM Consulting India & South Asia, underscored the transformative potential of super apps in the financial sector, enabling improved customer engagement and new business models. He also noted IBM’s commitment to supporting Mahindra Finance’s digital journey through advanced technology and customer-centric design methodologies.

Mahindra Finance, a significant player in India’s non-banking finance sector, focuses on rural and semi-urban markets, offering a range of financial products and services. The company’s collaboration with IBM signifies a move towards integrating cutting-edge technology and design to offer a seamless digital experience to its customers, reinforcing its commitment to financial inclusion and operational excellence.