Magma Fincorp inks deal with Oracle to boost mobile-based user engagement

Magma Fincorp, non-deposit taking non-banking finance company (NBFC) intends to enhance its web and mobile-based user engagement experience. The company has roped in Oracle Consulting to deploy Oracle software which helps to design and deploy a mobile-based user engagement platform.

Oracle will facilitate the implementation of Oracle WebCenter Portal, which will allow employees, even in remote locations, to access information and applications, helping reduce turnaround time to customers and partners. Magma aims to develop a state of the art integrated IT platform covering all its business processes and key corporate functions. The project will deploy the latest workflow automation, integrated content management and collaboration technologies of Oracle WebCentre.

This implementation will enable virtualization of Magma Fincorp's offices by empowering its field force to deliver solutions and services to clients in real time. It will also allow the company to offer enhanced customer service to customers and partners and drastically reduce capital costs as well as unit operational costs. Such a high degree of automation and system driven business processes will also help Magma deliver superior operational and risk management capabilities.

"Social media has already transformed the way customers, employees, partners, and suppliers communicate and stay informed. We therefore, realized the need for an open and integrated platform that can help people collaborate better and work more efficiently with the right information and tools," said Dinesh Chandna, CIO, Magma Fincorp.