Tech Mahindra Wins Best Mobile Banking App Award at Global Retail Banking Innovation 2024

Tech Mahindra (NSE: TECHM), a leading global provider of technology consulting and digital solutions to enterprises across industries, announced it had been recognized for the Best Mobile Banking App - under the vendor category by The Digital Banker Global Retail Banking Innovation Awards 2024. This recognition highlights Tech Mahindra's outstanding contributions to the digital transformation of lending and collections business,  in both consumer and commercial loans.

The award acknowledged the innovative mobile-based collections app developed by Tech Mahindra to empower field executives to perform collections effectively and help improve collections efficiency with a considerable reduction in non-performing-assets (NPAs). The application empowers agents with a 360-degree view of the borrower, including linked loans indicating total exposure and events such as defaults, payment delays, broken Promise to Pay (PTP), etc., to adopt appropriate measures to engage more actively with customers.

Atul Soneja, Chief Operating Officer, Tech Mahindra, said, “In the digital era, seamless and secure banking experiences are essential to stay competitive. Receiving the Best Mobile Banking App - Vendor award by The Digital Banker reinforces our leadership in creating cutting-edge mobile banking solutions designed to elevate customer experience. Our app empowers banks and field agents alike, optimizing collections with Doorstep Banking and driving operational efficiency—vital capabilities in an industry where customer-centric innovation is key.”

The application enables a reduction in default through timely notifications and enhances the end customer experience by facilitating offline and online instant payments and receipting capabilities. The productivity of field executives is improved through ‘Suggested route plans’ and an in-app calendar with task view. Additionally, a comprehensive dashboard offers insights on agent performance across various key performance indicators (KPIs), enabling managers to make informed decisions in a timely manner. 

To know more about Tech Mahindra’s BFS solutions, please visit: https://www.techmahindra.com/industries/banking-financial-services/