The COVID-19 pandemic has posed huge repayment challenges for customers who have taken loans. Therefore, HDFC Bank has partnered with Creditas Solutions to offer its loan and credit card customers a guided and customised debt management solution.

According to an official statement, the platform offers several ready-to-deploy solutions, enabling customers to access their credit account information in real-time, on any device.

The platform streamlines a flexible repayment process, allowing the customers to pay when and how they choose.

The platform leverages machine learning automation and decision intelligence-based marketing strategies, the bank said. The platform also helps the bank to use empathetic and personalised communication for each customer’s situation.

The platform’s fully personalised landing page keeps customers updated on their credit behaviour. According to the statement, the bank can now offer a frictionless self-service experience to resolve outstanding dues.

Customers can use all major Indian vernacular languages on the platform.

HDFC Bank said the platform’s robust technology architecture is fully compliant with data security and customer privacy norms.

Sagar Chaudhuri, senior vice president-retail portfolio management, HDFC Bank, said the partnership with Creditas is a step further to engage customers better and offer them a holistic and convenient self-service repayment platform. It is in sync with the bank’s differentiated philosophy of customers’ convenience, confidence, and guidance, he said.

Anshuman Panwar, co-founder of Creditas Solutions, said they have created a fully integrated digital credit help and self-service platform for the bank’s customers.

According to Panwar, Creditas uses specific and sophisticated contextual nudges, which will enhance the customer experience in such uncertain times.

Creditas Solutions, a fintech company, leverages machine learning (ML) and other advanced technologies to help financial institutions. It claims to expedite and optimise customer engagement while assisting in delinquency reduction financial literacy, and portfolio management.

Creditas claims its clients include HDFC, ICICI, Axis, Citibank, Kotak and TATA AIA, among others.

First Published:Jul 6, 2021 4:46 PM IST