CARS24 Financial Services, an NBFC specialising in car financing and a wholly-owned subsidiary of CARS24, India’s leading AutoTech company, has inked a strategic partnership with Credgenics, a SaaS-based debt collections and resolution tech platform.
As per the understanding, Credgenics’ SaaS-based platform at CARS24 Financial Services will provide data insights backed strategy recommendations, facilitating a digital-first approach and automate 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.
The CG Collect mobile app streamlines the field team operations, simplifies reconciliations, digitises visit management and enables 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 will cater to both pre-due and post-due stages, the Credgenics platform has swiftly enabled the transformation from a traditional approach to a data-oriented model that leverages workflow automation, integrated communications and advanced ML capabilities. The emphasis is on automation, eliminating manual processes including data upload, tracking and reporting and ensuring a seamless transition to a fully digitised ecosystem.
Ruchit Agarwal, Co-Founder & CFO, CARS24 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.”
Rishabh Goel, Co-Founder & CEO, Credgenics, “The Indian car financing landscape has undergone a significant transformation, driven by a robust emphasis on digitisation. 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.”
