Kotak Mahindra Bank goes live with CRMNEXT in India

By Edil Corneille

Kotak Mahindra Bank (Kotak), an Indian private sector bank headquartered in Mumbai, announced the implementation of CRMNEXT, an enterprise solution for banks and financial services. Novato-based CRMNEXT will enable the bank to deliver end-to-end digital and paperless journeys to serve customers in the new, dynamically changing environment. The new unified digital platform is said to enhance Kotak’s digital capabilities to sell to customers and service them across any touchpoint. The solution 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.

Sanjay Gupta, President & Business Head – IT, Kotak Mahindra Bank elucidated, “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.”

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 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 over 50 integration touchpoints from multiple sources. It enables omnichannel credit fulfillment and includes sales performance boosters across channels including contact centres, emails, website, and branches.

Sushil Tyagi, Director, CRMNEXT enunciated, ” Kotak Mahindra Bank is one of the most trusted and respected organisations 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.”