By Willie Samson
DETERMINED to make vehicle acquisition easier for average Nigerians Autochek automotive technology company has entered into a partnership with Appzone Group, a leading FinTech firm, to provide Nigerians with quick and flexible access to car financing.
The partnership which is also targeted at even people in the rural areas will see the Autochek platform integrating with Appzone’s proprietary digital core banking service, BankOne, in facilitating access to credit from over 400 micro-finance institutions for people across the country.
Chief Technology Officer at Autochek, Chetan Seth, while speaking at the official signing ceremony said, “obtaining access to financing in Nigeria is a tedious process. At Autochek, we are committed to providing consumers with seamless access to credit in order for them to own their vehicles. With technology, we are able to provide vehicle financing as fast with Appzone’s network.
“We are very much customer-focused and we operate in an on-demand economy. We, therefore, recognize the need to efficiently provide a plethora of options for customers to access loans. Our partnership with Appzone will enable us to further increase their options through access to the micro-finance banks currently available on their platform.”
In his remark, Mr. Mudiaga Umukoro, CEO of Appzone Core, a subsidiary company of Appzone Group said, “BankOne is our flagship product and Africa’s foremost banking-as-a platform (BaaP) solution.
“Over the last 10 years, we have focused on digitising the micro finance sector. We have enabled over 400 micro finance institutions spread across the entire country, with the capability for fully-digital banking operations. And now through our partnership with Autochek, these institutions available can now provide quick digital loans to prospective car owners anywhere in Nigeria indicate that the credit sourcing process starts with the listing of pre-qualified vehicles from the dealers on Autochek’s platform.
“Potential customers have the opportunity to select their choice from a pool of cars that have gone through a 150 point inspection process carried out by Autochek’s accredited technical experts. The customers are then able to submit their loan applications digitally through the autochek website to over 400 financial partners currently available on Appzone’s BankOne network. Within 24 hours, customers receive multiple offers and have the option to select their most preferred financial partner.
“Appzone transitions all accepted loan applications into the BankOne’s proprietary credit administration module which automatically enables the account opening, underwriting and eventual disbursement. The customer is now able to get a transparent step-by-step update throughout the whole process.”