CashNews.co
Indian NBFC firm L&T Finance Limited recently announced a strategic partnership with Amazon Finance India to develop innovative credit solutions aimed at enhancing affordability for Amazon’s eligible customers and merchants.
The fintech partnership was announced at India’s premier artificial intelligence (AI)-themed event in the banking, financial services, and insurance (BFSI) sector, ‘RAISE 2024’, organised by LTF in Mumbai.
The partnership will enhance LTF’s product diversification strategy and improve credit availability for consumers in a fast and seamless manner.
Leadership comments
Sudipta Roy, Managing Director & CEO at LTF, emphasized the strategic importance of the partnership and said, “We are thrilled to join forces with Amazon, marking a significant milestone in our commitment to delivering innovative financial services to customers nationwide. Enhancing customer acquisition is the first pillar of our five-pillar strategy to achieve our Lakshya goals, and this partnership will help us deepen our market integration.”
“At LTF, we have transitioned from a product-focused approach to a customer-centric one. We aim to innovate and offer relevant products tailored to our customers’ needs. Our partnership will enhance the customer experience through Amazon’s agile technology capabilities, reflecting our shared synergies in providing great value and convenience. It will also significantly impact the way responsible financing is accessed and utilised by consumers in emerging India,” added Roy.
Vikas Bansal, Director of Amazon Finance India, said, “We are committed to fostering innovation and building collaborations that deliver exceptional value to our customers, providing them with a convenient, trusted, and affordable experience while encouraging responsible credit behaviour. Our collaboration with LTF will aim to empower eligible customers to fulfil their consumption aspirations. By leveraging a cloud-native architecture, we aim to set new standards in availability, speed, and overall experience, ensuring that we continue to simplify lives and meet the evolving needs of our customers.”