Magma Fincorp Ltd. Wins Customer Service Leadership Award- 2016 by Frost & Sullivan


Kolkata, West Bengal, India

Magma Fincorp Ltd., one of India’s leading retail asset finance companies, has won the Customer Service Leadership Award by Frost & Sullivan.

Frost & Sullivan presented the 2016 Customer Service Leadership Award in Vehicle Fleet Leasing to Magma Fincorp Auto Lease in recognition of the company’s exemplary customer service. Frost & Sullivan is a leading global strategy consulting company, headquartered in the US. Established in 1961, in New York City, the company today has 45 offices across the globe. It has six offices in India (Bangalore, Chennai, Kolkata, Mumbai, New Delhi and Pune) and three offices in the Middle East (Dubai, Manama and Dammam).

The company has a domain knowledge approach to strategy consulting and has been working closely with multiple family run businesses/corporate groups in India, the KSA, and GCC, to develop their long term strategy and identify specific areas of business opportunity.

Frost & Sullivan’s Best Practices Awards recognize companies throughout a range of regional and global markets for superior leadership, technological innovation, customer service, and strategic product development, by measuring their performance through independent, primary interviews, and secondary industry research in order to evaluate and identify best practices.

Magma Fincorp’s Auto Lease business was recognized for its market share in leasing market, revenue growth, and customer retention. The company has ensured personalized assistance, right from selection of vehicle till any Insurance Claim support in bringing better customer experience. The company and its officials put considerable efforts in handholding its customer and other stakeholders by educating them about benefits of leasing, awareness of the product & services. The company’s centralized customer services team handles the in-bound and outbound calls. E-mails related to any type of customer query is timely responded by the business and service teams with a suitable and customized solution. Frequent client visits and feedback via engagement with all stakeholders to ensure state of the art service to its customers is a priority in the mind of all Magma officials.

Magma has over the last three years of its short existence in this product line made significant changes and customization for its esteemed corporate customers through intensive training, well thought through campaigns to its clients, working closely with the car manufacturers to provide and end to end doorstep solution for the corporate customers. Magma’s strong legacy of expertise, a dedicated and enthusiastic executive team, and continuing commitment to excellence will enable the company to expand and enhance its presence across a highly dynamic and rapidly shifting fleet leasing market of India. With its strong overall performance, Magma Fincorp Auto Lease has earned Frost & Sullivan’s Customer Service Leadership Award in Vehicle Fleet Leasing. Significant to note that this set of customers is mainly MNC’s and large Indian corporates across various sectors mainly in IT, Pharma, Consulting and Manufacturing.

“We are humbled by this achievement and honour that Magma has won this prestigious award by Frost & Suvillan, among other corporate entities who participated in this category. We at Magma design personalized strategies for improving customer service, through tailor-made customer experience to every single unique individual and we feel proud the efforts have duly been recognized”, said Mr. Sachin Khandelwal, Chief Sales Officer, Magma Fincorp Ltd.

About Magma Fincorp Limited

Magma Fincorp Limited (“Magma”) is a non-deposit taking non-banking finance company (NBFC), registered with the Reserve Bank of India (RBI) as an Asset Finance Company. The Company, having started operations over two decades back, is listed on the Bombay Stock Exchange Limited and the National Stock Exchange in India.

Magma provides a bouquet of financial products including commercial finance, agri-finance, SME finance and mortgage finance and has a general insurance subsidiary. Magma with a focus on rural and semi-urban sector has a widespread coverage with a presence across 1,900 Talukas and 2,900 Locations. Magma has a live base of about 7 (seven) Lac plus customers and manages a Loan book of Rs 18,183 crore. The company has 234 branches in 21 states/ 1 UT and employs 9,073 people.