Categories Name : Mobile & Tablets

Sub-Category : Best Use of WAP /Html/ other sites for Mobiles and Best App Developed- Products / Services / Corporate / Social/ Films / TV Shows / Entertainment/ Lifestyle / Gaming etc.

Entry Name (Campaign) : TVS Credit Saathi App

Covering Note / Overall Experience

OUR BRAND PROMISE:

Empowering India. One Indian at a time.

About the company:
From the largest cities to the smallest villages, India is filled with ambition and enterprise. As Indians from all walks of life set out to write their growth story, our timely and affordable credit empowers them to bring their dreams alive.
As part of the $8.5 billion TVS Group, we empower Indians from various socio-economic backgrounds with financial products that serve their needs. In doing so, we further the cause of financial inclusion.
Our two wheeler, used car, three wheeler, and tractor loans are designed for Indians in small towns and the rural heartland, for our nation's growth is powered by their prosperity. Our foray into the used commercial vehicle, business loans and consumer durable finance is yet another step in this direction. Through every loan we sell, every initiative we take, we remain true to our brand value – Empowering Aspirations.

The Brand Idea

We understand that no two customers are same. Therefore, our processes and products ensure that every customer’s unique needs and challenges are taken into account. Our success in the rural heartland of India is testimony to this.

We empower Indians from various socioeconomic backgrounds with thoughtfully designed financial products that best serve their needs. In doing so, we further the cause of financial inclusion and have so far served more than 5.4 million customers to fulfil their aspirations. This shows the trust our customers have reposed in us.

We at TVS Credit Services Limited see ourselves as a partner to every Indian who dreams big and aspires to a better life. This reflects in our brand promise, which is to enrich lives and empower aspirations.

Our brand values – trustworthy, innovative, proactive, empathetic and confident reflects our identity as the trusted financial partner for our customers.

We aim to become the first brand that every Indian thinks of when he or she has a goal that looks too far, a dream that seems too difficult, an ambition that sounds too ambitious.

Innovation & Creativity

Our innovative approach towards business, aided by analytics and technology has helped us reach out to those Indians, who otherwise didn’t have access to easy credit. We have developed alternative analytics models and innovative credit policies to ascertain creditworthiness of our customers. Our technology initiatives have helped us reach out to smaller locations more effectively. Our deep customer understanding has helped us empathise better with our customers. We have innovated such mechanisms as spot assessments, geospatial analysis, and an industry-first Used Tractor Bluebook that lets executives accurately assess the value of used tractors. Half-yearly instalments to rural customers and an EMI holiday for UCV customers are prime examples where our product design has been done keeping customers’ needs in mind.

Concept

About:
Saathi App is primarily a customer-facing app bundled with all the features/offerings for the customer to access all the details of the loan account. It provides all the info related to the loan account of the customer. In a nutshell it’s a one-stop-shop for all the TVS Credit customers (existing, matured, as well as new). It’s a completely in-house built app with the latest technology & hybrid platform. It has features for all stages of a customer journey from new customers to existing and mature customers.

Video for additional info
https://www.youtube.com/watch?v=0AZaYbJM-CE

Innovation

Saathi App was developed, in order to provide a quality customer experience, The team identified three distinct customer journeys: new users, existing users, and mature customers. Various app features were designed keeping in mind the different end-users. For the new user to easily apply for a loan, for the existing user to manage their relationship with us, and for the matured customer to get his NOC, apply for a new loan, or to avail of a cross-sold product, such as refinance. This video introduces the Saathi App, and the features and user journeys in it: https://www.youtube.com/watch?v=gNEkMRA3Llg

In order to increase the engagement rate and localization of the Saathi app, Charandeep, and his team introduced two new features

1. The expense manager in the app, using which a customer can manage their finance by keep track of their money outflow and inflow.

2.The App was enabled with the vernacular feature where the user can change the language into Hindi, Tamil, or English which helped in obtaining more non-English speaking users.

Our Saathi App has over 2 million downloads within a brief period of time.

In order to ensure the success of the digital campaigns of our used car loans, we extensively employ A/B testing in our display and text ads to fine-tune the imagery, messaging, and targeting. Through this, we have been able to optimise the effectiveness and reach of our campaigns, thereby achieving a higher lead and conversion count at a lower cost of acquisition.

Execution

Features:
TVS Credit Saathi App is a One-stop shop for all requirements of TVS Credit customers is loaded with lots of extensive fetures that a customer, as well as non-customer, can access.

• TVS Credit Saathi App provides all the features/offerings of a TVS Credit website in an App format. It helps user in applying for loan, finding nearest dealership, calculating EMI, etc. these are the features a non-customer can also use.
• TVS Credit Saathi app allows user to pay their EMIs as well as the payment of others by using their agreement number.
• In the case of customer, it has details related to SOA, Payment receipts Insurance information, EMI dues, NOC, foreclosure statement.
• Customers can raise a ticket for queries/complaints which gets automatically tagged to the agreement number of the customer and is directly routed through the customer service team.
• It is a tool that is built for engagement with the customer wherein he can play quiz, refer his friends, and with attractive rewards weekly.
• For the existing customers, all those who are eligible can view the amount and apply for a pre-approved loan.
• the expense manager in feature, using which a customer/non-customer can manage their finance by keep track of their money outflow and inflow.
• The App was enabled with the vernacular feature where the user can change the language into Hindi, Tamil, or English which helped in obtaining more non-English speaking users.
• Mutual fund investment option is avail for all users
• Offers section enables users to check the offer available

Results

Performance:
Through TVS Credit Saathi App we get on an average 20k leads per month which has a 2X conversion rate compared to our other organic digital channels. Based on the user behavior personalized notifications are being sent automatically thus giving us a retention rate of higher than the industry standards. With more than 2.8 million downloads in less than 2yrs, we can assume that the app is well received and the customers are happy with the features that are provided. We have won multiple awards for this application and it is recognised as one of the best BFSI apps in one of the studies conducted by a magazine.