IBM (NYSE: IBM) and Mahindra & Mahindra Financial Services Limited (Mahindra Finance) have unveiled plans to develop a pioneering super app. This innovative digital platform aims to revolutionize financial inclusion by providing consumers across India with seamless access to a comprehensive suite of Mahindra Finance’s products and services.
The super app will serve as a 24×7 single digital gateway, offering customers from both urban and rural areas unparalleled convenience in accessing and managing various financial solutions. By integrating Mahindra Finance’s diverse lending businesses, including personal loans, enterprise loans, mortgage loans, leasing solutions, payments, fixed deposits, insurance solutions, and investment & wealth management services, the app aims to streamline the user experience while strengthening Mahindra Finance’s position as a preferred financial solutions provider for the evolving Indian market. Raul Rebello, MD & CEO-Designate of Mahindra Finance, expressed enthusiasm about the collaboration, stating, “The super app is a strategic lever that will expedite the growth of key businesses in an operationally efficient manner, combining omnichannel capabilities to create hyper-personalized solutions for emerging India.”
IBM Consulting will bring its expertise in human-centered design and hybrid cloud capabilities to enhance the super app’s user experience and security. Rishi Aurora, Managing Partner of IBM Consulting India & South Asia, emphasized the potential of super apps to revolutionize the financial services industry, stating, “Super apps have the potential to bring a paradigm shift in the financial services industry, enabling significantly superior customer engagement and unleashing new business models.”
