HDFC Financial institution companions with Creditas on answer for mortgage, bank card clients


Non-public sector lender HDFC Financial institution Ltd has partnered with fintech firm Creditas Options to supply a guided and customised debt administration answer for its mortgage and bank card clients.

With covid-19 nonetheless gripping the nation and posing huge compensation challenges for customers, the platform comes armed with ready-to-deploy options addressing a variety of challenges confronted by customers whereas managing their bank card and mortgage funds, Creditas Options mentioned in a press release on Tuesday.

“The platform permits clients to entry their credit score account data in real-time, on any system, and likewise streamline and allow the compensation course of, permitting additional flexibility to pay when and the way they select,” it mentioned.

Sagar Chaudhuri, senior vice-president (retail portfolio administration) at HDFC Financial institution mentioned, this partnership with Creditas is a step additional to supply a holistic and handy self-service compensation platform for patrons.

“It aligns with our technique the place we goal to supply our clients comfort, confidence and steerage, which is a transparent differentiator within the banking area. Moreover, this platform will even strengthen our engagement with clients by way of a digital channel,” mentioned Chaudhuri.

In December final yr, HDFC Financial institution was ordered to halt launching new digital banking initiatives and freeze bank card issuance till the lender addresses the lapses that led to a sequence of glitches. The Reserve Financial institution of India (RBI) issued the two December order after outages within the web and cell banking programs over the previous two years.

Earlier than the ban, the financial institution had been including over 100,000 bank card clients each month between April and November 2020. On the progress of RBI’s third-party IT audit and a doable timeline for lifting of the embargo, its chief data officer Ramesh Lakshminarayanan just lately mentioned the financial institution has accomplished all assessments and the matter is with the regulator.

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