Cholamandalam Investment and Finance Company, the financial services division of Murugappa group, has partnered with US-based Mavin as part of its plan to tap rural areas through digital technology. Following the tie-up, Chola would reward users for using the mobile application in making EMI payments, updating KYC documents among others, a company statement said.
Cholamandalam Investment and Finance Company has 703 branches and manages assets worth over Rs 35,000 crore, the release added.
“The vision for Digital India has the potential to create a transformational change, with rural India poised for being the biggest beneficiary.. Partnering with Mavin is one such initiative to help our customers in towns to move to digital,” Cholamandalam Investment and Finance, Managing Director, Vellayan Subbiah said.
Mavin helps businesses enabling long-term engagement with mobile application and web customers. It simplifies the process of creating a programme that rewards loyal customers. Mavin’s integration with the Chola app will allow it to incentivise customers to use the services offered by the mobile application.
“Since we officially launched Mavin, we have received a great response from consumers and app publishers alike… Activity-based app rewards not only delight first time users and increase download, but also brand loyalty, increase user retention..,” Mavin CEO, Shailesh Nalawadi said.