Commercial vehicle major Tata Motors today announced that it has taken its relationship with Yes Bank to the next level by developing 'digital synergies' for offering financial products to its customers.

The partners will jointly introduce digital retail finance solutions for the entire range of cargo and passenger carriers, facilitating easy purchase and offer better operating economics for the end customers.

Tata Motors says its technology enabled platform the E-Guru app, helps understand the customers’ business needs in order to recommend the befitting product as per their requirements. Through this partnership, both the companies will work towards evaluating the financial needs and packages which include product structuring, down payment and various other schemes. Yes Bank will further leverage the E-Guru app allowing it to enhance customer experience with quick approvals across all touch points. The MoU also enables customers to avail attractive financial schemes with minimal formalities.

Speaking at the MoU signing, Rajesh Kaul, vice-president – Sales and Marketing, Commercial Vehicles Business Unit, Tata Motors said, “This is a welcome partnership between two agile and tech savvy organisations who use technology as an enabler to add value and leverage our common strengths to meet the ever changing needs of our customers. We are confident of increased reach, and help us serve our customers in an efficient and delightful manner.”

Nipun Jain, group president – National Head Commercial Retail Assets and MIB, Yes Bank said, “We are proud to strengthen our partnership with Tata Motors and are delighted to offer their commercial vehicle dealers and customers enhanced convenience through technology. The API-based integration has been designed to facilitate real time document processing for credit assessment, enable customers to get an instant in-principle approval and allow real-time tracking of credit status among other benefits, further aiding Tata Motor’s market penetration. This integration is among the industry first in this segment and is a testament of Yes Bank’s commitment to provide best-in-class technology banking solutions to our clients and helping them achieve their objectives.”