Salesforce to transform digital customer onboarding for vehicle loans for AU Small Finance Bank

Salesforce has announced collaboration with AU Small Finance Bank (AU SFB), India’s leading SFB, to implement an advanced digital customer onboarding solution for the vehicle loan customers of the Bank. This partnership underscores AU SFB’s commitment to technology adoption, enhancing customer engagement, and improving operational efficiency.

Leveraging Salesforce, AU SFB is striving to create a fully digitized solution tailored to cater to the requirements of relationship officers and business managers. With this association, the bank will bring together the entire customer journey of credit and operations on a single platform. This will enable them to expedite Turnaround Time (TAT) and acquire customers across various digital channels. The bank is utilizing Salesforce to harness its existing API stack, reduce manual data entry, and streamline data validation.

Collaborating with the Salesforce team, AU SFB also aims to enhance operational efficiency through the integration of advanced reporting capabilities. This involves streamlining processes for underwriting credit decisions, verifying data and documents, and delivering real-time dashboards for users, facilitating a smooth transition to a paperless workflow. The collaboration also strives to introduce new features and policies, as well as overcome challenges.

On this partnership, Bhaskar Karkera, Head of Retail Assets at AU Small Finance Bank, expressed, "We are delighted to welcome Salesforce as our partner in digitizing customers' journeys for vehicle loans, one of our oldest and most robust products. At AU SFB, customer centricity is at the core of all our efforts, and our collaboration with Salesforce further strengthens that commitment. This collaboration will not only enhance our productivity but also elevate the customer experience to a whole new level. This innovation goes beyond technology adoption; it will give us a competitive edge in the rapidly evolving financial landscape witnessing enhanced use case for technology. This end to end digital on-boarding app will benefit stakeholders across the value chain, including auto dealers, our sales officers, the back-office team, and, most importantly, the customers."

Arun Kumar Parameswaran, Managing Director - Sales, Salesforce India, said, "Today, technology offers fascinating opportunities for innovations in banking. At Salesforce, we understand that trust, digitization, and personalization is overwhelmingly critical to those innovations. Financial service institutions must meet their customers on the channels of their choice and provide them with an end-to-end experience. This collaboration showcases the power of Salesforce in driving innovation and efficiency in the financial services sector. We are thrilled to collaborate with AU SFB on their digital transformation journey and look forward to supporting AU SFB in driving business success."