IBM (NYSE: IBM) and Mahindra & Mahindra Financial Services Limited (Mahindra Finance) have jointly announced a strategic partnership to develop a super app that will provide customers with a single digital interface to access various Mahindra Finance businesses.
With the help of this app, customers in metro areas and non-metros will have 24×7 digital access to obtain and manage goods and services in a safe, efficient, and straightforward way. This would be accomplished by combining under one roof Mahindra Finance’s different lending businesses for both cars and non-cars, such as personal loans, business loans, mortgage loans, leasing solutions, payments, fixed deposits, insurance solutions, and other investment & wealth management services. The app will further enhance and immerse Mahindra Finance customers’ experiences and solidify the company’s standing as the go-to partner for financial solutions in emerging India.
Raul Rebello, MD & CEO-Designate of Mahindra Finance, commented on the development, saying, “We at Mahindra Finance are keen to accelerate delivery of our digital financial solutions to better serve our customers. The super app is a strategic lever that will expedite the growth of key businesses in an operationally efficient manner that combines omnichannel capabilities. It will also empower us to create hyper-personalised solutions for emerging India”.
“Super apps have the potential to bring a paradigm shift in the financial services industry, enabling significantly superior customer engagement and unleashing new business models,” said Rishi Aurora, Managing Partner, IBM Consulting India & South Asia. “Having worked with multiple financial organizations that are in different stages of their growth journeys in India and across the world, we are happy to collaborate with Mahindra Finance in their endeavor to build a seamless digital journey. Leveraging future-ready hybrid cloud capabilities, the super app will help Mahindra Finance move up the value chain through unique differentiated customer experiences.”
Using human-centered design methodology, IBM Consulting will improve the super app experience at every point of the customer journey. This strategy will combine an in-depth knowledge of Mahindra Finance’s clientele with outstanding application user interface design to provide a service that both adds value for the client and unlocks business value for the organization. IBM Consulting will contribute its cloud transformation and cloud management experience to the foundational design of a digital platform architecture that is safe, scalable, and resilient. This platform will be deployed on a hybrid multi-cloud environment, making it possible to seamlessly integrate new technologies in the future, such as generative artificial intelligence.
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