Vehicle Lending

Reinvent vehicle lending by offering attractive loan packages, making it easier for customers to apply for loans at dealerships/NBFCs/ mobile app and customer portal, enabling faster loan processing, and delivering a personalized customer experience. Leverage our low code-based solution to configure end-to-end vehicle loan origination needs for new or used cars, two-wheelers, four-wheelers, and commercial or fleet financing. Design customer journeys for new customers, existing customers, straight-through cases, non-straight-through cases, and dealers/direct selling agents.

Features of Vehicle Loan Origination Solution

Omnichannel Initiation & Low Code Capability

Borrowers can initiate loan applications seamlessly from mobile, web, or in-person channels, ensuring a consistent and convenient experience across all platforms. Minimal coding requirement to develop customer portal interface and mobile app. The in-built business rules engine can be used to configure parameters for different loans, risks, compliance requirements, and more.

Digitized Documentation & KYC

Customers can apply for a vehicle loan online without any physical documentation. Scanned copies of ID, address, and income proof documents can be uploaded seamlessly through portal/mobile channels. Customer identity verification is done remotely and electronically, eliminating the need for customers to physically visit the branch to ensure compliance with regulations.

STP & Online RC Verification

Straight-through processing (STP) using a rule engine can enable instant loan approvals and disbursements for rapid loan application journey for borrowers. Online Registration Certificate (RC) verification for existing vehicle loans by cross-checking vehicle details with a centralized database to ensure the vehicle’s authenticity and eligibility for financing.

AI-enabled Lending & Intelligent Credit Decisioning

The entire lending life cycle is powered by machine learning models for personalized loan offers, credit risk assessment, and predictive analytics like probability of default/dropout models. Rule engine and AI-powered scoring models can automate credit decision-making, speeding up the loan approval process.

Loan Eligibility Calculator & In-Principle Offer Generation

The eligibility calculator can help borrowers determine the loan amount they qualify for based on their income, credit score, and other factors. Soft approvals can be generated for pre-eligible customers, fast-tracking the loan application process.