Kotak Mahindra Bank launches corporate customer platform fyn

Kotak Mahindra Bank launches corporate customer platform fyn: Private lender Kotak Mahindra Bank on Tuesday launched Kotak fyn, a unified portal for corporate customers to track their payments, collections, trade and other services related to their bank accounts.

The bank is also planning to introduce a new loan origination and management system that would digitize the process from loan application, to sanction, to disbursal. While this loan origination and management system is expected to reduce the turnaround time for corporate borrowers, the bank also believes this will make the process more transparent. This system would reduce the turnaround time for corporate borrowers and make the process more transparent.

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The platform would be available to all business banking customers of the bank, irrespective of their size. As long as a customer uses working capital products or loans from the bank, they would not have to pay anything additional for accessing fyn, Manian said.

Manian said that during covid, corporates and businesses scaled up their digital engagements and the bank saw significant traction in digital engagement.