Salesforce unveils Digital Lending solution for India, launches Public Sector Division

Cloud-based software company Salesforce has announced two significant developments for its operations in India. The company will soon launch Digital Lending for India, a platform designed to help banks and lenders streamline consumer lending processes digitally. This platform aims to reduce the costs and complications associated with outdated, disconnected systems.  

Additionally, Salesforce has introduced its Public Sector division in India, focusing on empowering government agencies and public sector organisations to enhance citizen experiences using Salesforce technology. 

Digital Lending for India integrates banking and financial data with customer information on Salesforce's Financial Services Cloud platform. This integration provides a comprehensive view of customer information, facilitating faster loan application processing and approvals. The platform supports applications for home, auto, and personal loans, offering a unified system for intake, underwriter review, and pre-disbursement operations. This approach is expected to significantly reduce loan processing times, as per the company. 

The new platform will feature application intake that offers prebuilt journeys for a streamlined experience across multiple touchpoints, including branches and mobile channels. The underwriter console that will provide a consolidated view of critical data for credit reviews.   

Furthermore, the platform will have India-specific integrations include pre-built solutions for Aadhaar authentication, identity verification, Video Know Your Customer (KYC), risk screening, and employment verification. Pre-disbursement operations feature forms for collecting applicant bank account details, repayment methods, frequency, and amounts. This configurable feature also integrates templates for verifying bank account and Indian Financial System Code (IFSC) details.   

The Salesforce's Public Sector division aims to transform how government agencies serve citizens. Built on the Salesforce Einstein 1 Platform, these solutions include out-of-the-box apps designed for digital service delivery. They leverage AI and automation tools to enhance service agility, efficiency, and overall digital transformation. Recently, Salesforce also launched Public Sector Einstein 1 for Service, which combines CRM, AI, and data capabilities to automate administrative tasks and provide faster service to citizens. 

The Public Sector Solutions are available on Hyperforce, Salesforce's next-generation public cloud infrastructure. This infrastructure supports the digital transformation efforts of government agencies, helping to future-proof their IT investments. 

Arundhati Bhattacharya, CEO & Chairperson, Salesforce India, said, “Our focus on the public sector, comes at a time when cloud has become the underlying strength of digital transformation efforts, playing a pivotal role in paving the way for innovation and propelling India to become a $1 trillion digital economy by 2030. Artificial intelligence – both predictive and generative, machine learning, and application development based on trust will boost citizen experiences.”