One of India's largest asset financing company, Shriram Transport Finance Company Limited (STFC) a part of the Shriram Group, won an award for 'Best Tech-driven NBFC of the year 2022' at the 4th Annual India NBFC Summit & Awards, organized by Quantic India in September 2022.
STFC is a Technology enabled business and the company has paved the way for customers to achieve an unparalleled digital experience across products and service portfolios. The technology platform is a combination of enhanced security features with scalability and agility to meet the changing operational needs.
Blockchain: First NBFC in India to deploy Blockchain for fixed deposits. The data is digitised when a certificate is issued, and a digital identity is assigned to each certificate. All certificates are tagged and traceable. The certificate data is parallelly managed in a production system. In total, this creates an immutable, secure, and highly transparent transaction, which makes it easy to uncover fraud, as the technology will expose any outdated or forged certificates.
Contact Centre Management: The company has a centralized contact hub with a process smart IVR, AI bots, and a simplified campaign management process. The contact centre is equipped with an experienced workforce and offers 24/7 customer support to facilitate continuous customer interaction by solving queries and conversion of leads.
Business Intelligence for continuity of operations: The company ensures business continuity by deploying a centralized monitor called the Solaris wind app that provides insights on the functioning and redundancy of the network across the PAN India business operations. This helps us to act swiftly and provide solutions for business continuity and to secure data in any unforeseen situation.
Cloud Deployment: STFC has switched to cloud computing as an initiative, which offers an array of advantages by way of cost savings, unlimited data backup, storage possibilities, and mobility for any time, anywhere accessibility. Cloud computing has enabled the company to free itself from the clutches of expensive infrastructure maintenance, timely upgrades, backups, and data recovery. Leveraging the cloud helps us to focus more on our core business and build a great customer experience.