Magma Fincorp taps Oracle to deploy Internet and mobile-based user engagement platform


Infotech Lead Asia: Indian NBFC Magma Fincorp has tapped Oracle Consulting to deploy an Internet and mobile-based user engagement platform.

Oracle said the new platform is aimed to deliver various benchmark experiences to customers, employees and business partners.

Magma will implement Oracle WebCenter Portal, which will allow employees to access information and applications, helping reduce turnaround time to customers and partners.

Magma with around 7 lakh customers and assets of Rs 14,650 crore under management, aims to develop an integrated IT platform covering all its business processes and key corporate functions. The project will deploy 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. The company has 263 branches in 20 states and 1 union territory and employs about 6900 people.

“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.

The project will allow Magma Fincorp to offer enhanced customer service to customers and partners and reduce capital costs as well as unit operational costs. High degree of automation and system driven business processes will help Magma deliver superior operational and risk management capabilities.

“Forward-thinking organizations are looking at new technology and infrastructure to help them advance to the next level and integrate social activities with business applications,” said Gopal Chawla, senior director, Oracle Consulting Services, Oracle India.

READ MORE: Oracle has launched new bundled offerings around its x86 servers, entry level SPARC servers and storage solutions. These bundles offer savings of up to 50 percent lower acquisition and operational costs.

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