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Kotak Mahindra Bank launches corporate customer platform finance
February 22, 2023
Private lender Kotak Mahindra Bank on Tuesday launched Kotak Fin, an integrated portal for corporate customers to track their payments, collections, trade and other services related to their bank accounts.
The bank is also planning to introduce a new loan origination and management system that will digitize the process from loan application to sanction to disbursement. While this loan origination and management system is expected to reduce the turnaround time for corporate borrowers, the bank also believes that it will make the process more transparent.
“While the formal launch of fyn is today, some of our customers have already experienced it. We feel it is an integrated platform that will continuously evolve to take care of customer needs,” said Kotak Mahindra Bank Whole Time Director KVS Manian said.
The platform will be available to all commercial banking customers of the bank, irrespective of their size. Manian said that as long as a customer uses working capital products or a loan from the bank, they will not have to pay anything extra to access finance.
Manian said that during Covid, corporates and businesses increased their digital engagement and the bank saw significant traction in digital engagement.
He said, “While work from home has turned upside down to some extent and Covid-19 is gone, I think digital adoption is here to stay and corporates are engaging with banks in a more digital way than ever before. Will join.
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