CARS24 Financial Services partners with Credgenics to streamline collections process – ET Auto


The company’s emphasis is on automation which, in turn, will eliminate manual processes including data upload, tracking and reporting.

Indian Auto Tech company CARS24‘s wholly-owned subsidiary, CARS 24 Financial Services, on Tuesday announced a strategic partnership with Credgenics to facilitate a digital-first approach in the business.

The company said that the objective behind the move is to “streamline the car ownership experience for customers by introducing innovative solutions powered by cutting-edge technology, ensuring a hassle-free journey.”

“Credgenic’s SaaS based platform at CARS24 Financial Services provides data insights backed strategy recommendations, facilitates a digital-first approach and automates customer communications across multiple channels for collections. The integrated platform includes various modules that cover the end-to-end collections lifecycle and enables the team at CARS24 Financial Services to drive higher operational efficiency, provide personalized service to customers and scale operations rapidly at ease,” said the company in a release.

The company said that its app, called ‘CG Collect’, will streamline the field team operations, simplify reconciliations and will also digitize visit management and enable seamless tracking.

“Capabilities such as offline operability in remote areas, easy repayment deposit process and real time field team tracking are helping drive the next level of efficiency for CARS24 financial services team operating in more than 180 cities in India,’ it added.

The Co-founder & Chief Financial Officer of CARS24, Ruchit Agarwal, said “We are committed to fulfilling the dream of car ownership and make it convenient and accessible to all. Our collaboration with Credgenics for the enablement of digital debt management processes is supporting our mission to provide a more seamless debt financing experience for our customers. We are excited about the upcoming features and the continued innovation that Credgenics brings to the table.”

The company’s emphasis is on automation which, in turn, will eliminate manual processes including data upload, tracking and reporting.

Credgenics’ CEO Rishabh Goel, commented on the partnership and said, “The Indian car financing landscape has undergone a significant transformation, driven by a robust emphasis on digitization. Our collaboration with CARS24 Financial Services exemplifies the influential role of digital transformation in the financial services sector. We take pride in contributing to CARS24’s pursuit of elevated customer experience and operational efficiency. As the fintech ecosystem evolves, our commitment remains steadfast in delivering cutting-edge solutions that align seamlessly with our partners’ business objectives.”

  • Published On Mar 5, 2024 at 11:06 AM IST

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