Chennai, Feb 3 (PTI): Automotive fintech start-up Kuwy and a subsidiary of Volkswagen Finance on Thursday announced the launch of a lending-as-a-service platform in the domestic online car sales segment.
According to a senior official at the Chennai-based company, with the launch of Kuwy’s Loan-as-a-Service (LaaS) facility, customers could buy new and used cars from online sellers.
“KuwyLaaS is going to launch the journey of online car retailing in India. The technological innovation in the KUWYLaaS will not only eliminate all the challenges associated with selling cars online today, but will also provide deeper insights that will enable the online transaction to be completed at the point of research providing a better experience. purchase,” Kuwy CEO and Co-B founder Ganesh Kumar said.
The new platform would allow automakers, dealerships, car aggregation platform and lenders to offer digital retail to their customers by leveraging KUWYLaaS and bringing their own retail experience retailer of branded cars while offering their customers transparent and fully automated financing solutions.
“From car specs to selecting finance options, choosing a lender and getting instant approval in completely paperless journeys, I believe KUWYLaaS is a must-have technology that will empower not only the overall car sales segment ecosystem in India but also puts the country on par with the technological innovations in the global landscape,” Kumar said.
KUWYLaaS offers basic and advanced online car financing journey integrations to OEMs, dealerships, online aggregators and lenders to enable digital retailing of new and used cars.
According to the company, real-time customer loan decision could be made via Kuwy Loan Decision Engine, the right selection of lenders from over 25 of India’s leading auto lenders, access to over 27 Kuwy loan programs in addition to access to Kuwy’s proprietary vehicle paper transfer platform.
KUWYLaaS is fully customizable and available in mobile and desktop versions.
Kumar said that while India ranks fifth among the top five countries in the world for car sales, the pattern of buying and selling behavior varies with the advancement of technology and information sharing. .
KUWYLaaS simply solves this problem by making all stakeholders highly informed of the choices in order to make a good decision and finalize the transaction instantly, digitally, he said.
“In this whole process, KUWYLaaS will empower all groups, thereby improving their business and, more importantly, making the entire segment transparent and organized,” he said.
(This story has not been edited by the Devdiscourse team and is auto-generated from a syndicated feed.)