Tata Motors and Yes Bank to empower customers with digital retail finance solutions
Tata Motors, the market leader in the Commercial Vehicles industry, has taken their relationship with YES Bank to the next level by developing "digital synergies" for offering financial products to its valued customers. They will jointly introduce digital retail finance solutions for the entire range of cargo and passenger carriers, facilitating 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 in order 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 superior customer experience with quick approvals across all touch points. The MoU also enables customers to avail attractive financial schemes with minimal formalities.
On the occasion of the MOU signing, Mr. Rajesh Kaul, Vice President â€" Sales & Marketing, Commercial Vehicles Business Unit â€" 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."
Mr. Nipun Jain, Group President â€" 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 an 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 of YES BANK's commitment to provide 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 offers the passenger transport range in the country and has the widest sales and service distribution network of over 3700 touchpoints.