Bengaluru, November 26, 2024: L&T Finance Limited (LTF), a leading Non-Banking Financial Company (NBFC), today 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. This partnership will enhance LTF’s product diversification strategy and improve credit availability for consumers in a fast and seamless manner.
Mr. 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 Mr. Roy.
Mr. Vikas Bansal, Director, 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.”
Both LTF and Amazon express confidence that this partnership will not only benefit their respective businesses but also contribute significantly to the broader goal of financial inclusion and responsible lending in India's rapidly evolving digital economy.
About L&T Finance Ltd. (LTF):
L&T Finance Ltd. (LTF) (https://www.ltfs.com), formerly known as L&T Finance Holdings Ltd., is a leading Non-Banking Financial Company (NBFC), offering a range of financial products and services. Headquartered in Mumbai, the Company has been rated ‘AAA’ — the highest credit rating for NBFCs — by four leading rating agencies. It has also received leadership scores and ratings by global and national Environmental, Social, and Governance (ESG) rating providers for its sustainability performance. The Company has been certified as a Great Place To Work® and has also won many prestigious awards for its flagship CSR project – “Digital Sakhi”- which focuses on women's empowerment and digital and financial inclusion. Under Right to Win, being in the ‘right businesses’ has helped the Company become one of the leading financiers in key Retail products. The Company is focused on creating a top-class, digitally enabled, Retail finance company as part of the Lakshya 2026 plan. The goal is to move the emphasis from product focus to customer focus and establish a robust Retail portfolio with quality assets, thus creating a Fintech@Scale while keeping ESG at the core. Fintech@Scale is one of the pillars of the Company’s strategic roadmap - Lakshya 2026. The Company has approximately 2.5 Crore customer database, which is being leveraged to cross-sell, up-sell, and identify new customers.
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