Mumbai – August 18, 2020 – Kotak Mahindra Bank (Kotak) announced today that it has successfully implemented CRMNEXT, the leading enterprise solution for banks and financial services, in association with CRMNEXT Inc. CRMNEXT will help Kotak deliver end-to-end digital and paperless journeys to serve customers in the new, dynamically changing environment. The new unified digital platform enhances Kotak’s digital capabilities to sell to and service customers across any touchpoint.
CRMNEXT will enable Kotak to create digital journeys for faster fulfillment of its products and services ranging from account opening to lending across its retail, MSME and enterprise customers.
CRMNEXT enables pre-qualified offers uniquely tailored for individual customers and MSMEs, thereby helping Kotak boost new acquisition as well as cross selling of products and services. In addition, it provides a powerful lead management system on a customers’ transaction behavior, thereby giving a 360-degree view of a customer’s profile to a banking relationship manager. The platform provides rich and actionable intelligence through 50+ integration touch points from multiple sources. It enables omnichannel credit fulfillment and includes sales performance boosters across channels including contact centers, emails, website and branches.
Sanjay Gupta, President & Business Head – IT, Kotak Mahindra Bank said, “The challenges posed by a dynamic business environment has necessitated that we constantly innovate and upgrade ourselves to make banking seamless for our customers. Investment in platforms is Kotak’s strategic way forward for its key business processes and CRMNEXT is a step in that direction, enabling us to deploy smart, intelligent journeys resulting in faster fulfillment and go to market for our new products and services and lower cost of sales. It has boosted our capabilities to deliver superlative customer experience and further strengthen customer loyalty.”
Sushil Tyagi, Director, CRMNEXT said, “Kotak Mahindra Bank is one of the most trusted and respected organizations in India. We are excited to partner with them in their continuous efforts to lead digital transformation in Indian banking. CRMNEXT’s proven technology and domain expertise is helping banks to adopt and execute their digital strategies faster and effectively in an agile manner. CRMNEXT will further empower Kotak to streamline its end-to-end digital operations, creating synergies to meet its strategic business goals and objectives.”
Key benefits of CRMNEXT are:
- Smarter digital acquisition journeys with faster fulfillment for retail and corporate banking
- Anticipating retail and corporate needs well in advance, and delivering personalized, prequalified offerings, thereby enhancing customer loyalty
- Codeless, visual digital journey designers enable personalized sales, service offerings with significantly faster turnaround times and lower operational costs
- Guided actions will help Kotak curate engagement activities and build long-term relationships with customers
About Kotak Mahindra Bank Limited
Established in 1985, Kotak Mahindra Group is one of India’s leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group’s flagship company, received banking license from the Reserve Bank of India (RBI), becoming the first non-banking finance company in India to convert into a bank – Kotak Mahindra Bank Ltd.
The Bank has four Strategic Business Units – Consumer Banking, Corporate Banking, Commercial Banking and Treasury, which cater to retail and corporate customers across urban and rural India. The premise of Kotak Mahindra Group’s business model is concentrated India, diversified financial services. The bold vision that underscores the Group’s growth is an inclusive one, with a host of products and services designed to address the needs of the unbanked and insufficiently banked. As on 30thJune 2020, Kotak Mahindra Bank Ltd has a national footprint of 1,600 branches and 2,516 ATMs, and branches in GIFT City and DIFC (Dubai).
For more information, please visit the company’s website at https://www.kotak.com/
CRMNEXT, Inc. is the leading global CRM software solution provider in banking and financial services. It is used by more than 1 million bankers to manage more than a billion customers on its platform globally. A Gartner Magic Quadrant Challenger company, CRMNEXT picks up where traditional CRMs leave off providing work simplification, robotic automation, immediate results and greater empowerment for both team members and customers. It eliminates the artificial barriers between human and digital channels, enables innovation and world-class, omnichannel customer interactions from a single, unified platform. It has to its credit the largest banking CRM implementation globally. It has become the largest CRM in financial services by effectively recalibrating the potential for both large and small organizations to grow assets, quality relationships, profitability, service and innovation.
For more information, visit www.crmnext.com
For further information, please contact –
Kotak Mahindra Bank
Kotak Mahindra Bank
Mobile: +91 9930252484
Mobile: +91 9833537679