VLendRight creates an entire ecosystem for auto-purchase linking the financial institutions, partner dealers with the customers.

Country: India  VLendRight
Year: 2015

  • Partnering: The platform is specifically designed for banks to enable car purchase, easy auto loan application and approvals as well as provide auto-insurance to the customers. 
  • Concept Design: The concept could be leveraged by the banks to build their own mobile applications.

Concepts

VLendRight creates an entire ecosystem for auto-purchase linking the financial institutions, partner dealers with the customers.

VLendRight

It provides a personalized customer journey based on the customer preference based on the information available from the financial institutions. The real time data (IoT data) from the car could also be loaded into this digital platform.

Consumer Benefits

  • Banks: It helps the banks to improve cross sell rates, advise customers on loan applications online and improves cross-sell rates.
  • Dealers: Improves inventory turnover and profitability. It acts as a sales enablement platform for the lead cycle- lead generation, capture, qualification, distribution & closure. Platform could be used to sell add-ons like car seats, navigation maps etc. Dealers also get the insights on the customer preferences.
  • Customers: Hassle free car purchase saving time with pre-approved loans for the chosen car. Car comparison based on the industry feedback. The customers can ask for test drive from within the app.

How to use

  •  The platform needs to be integrated by the banks/financial institutions for providing customers with auto-loan.