Mrs. Kittiya Srisanit, Head of Krungsri Auto Group, Bank of Ayudhya PCL, stated that "Krungsri Auto has laid the foundation for digital auto lending service through the development of innovation that responds to automobile users' lifestyles and the creation of experiences in which buyers can purchase a car confidently with a suitable financing plan. We launched 'Krungsri Auto PromptStart' near the end of 2018, allowing customers to check their credit appraisals via the mobile website. This year, we have developed and prepared to launch a comprehensive digital auto lending service on the GO Application by Krungsri Auto. The updated service encompasses the process of loan application until loan approval for both "Krungsri New Car" and "Krungsri Used Car" loan products, marking the first of its kind in Thailand's automotive finance market."
With Krungsri Auto's digital auto lending service, customers can apply for loans by using Nation Digital ID (NDID) for identity verification, authorizing credit information disclosure through E-Consent, and finally receiving loan approval notification via the GO Application by Krungsri Auto. Also, customers are not required to submit any additional documents. The service promises to answer the current digital lifestyle with a convenient, fast, and seamless experience
Mrs. Kittiya added that "To continue our commitment to responding customers' needs through personalized offerings, Krungsri Auto's digital auto lending service comes with an innovative feature for credit appraisal. With our Customer-based Lending approach, the approved credit is based mainly on each borrower, not on the vehicle's value as in the traditional loan offering practice. It empowers customers to purchase a vehicle compatible with their needs and financial capability. Moreover, the new approach also eases the worry and the hassles of the vehicle purchase and loan application processes."
"This pilot digital auto lending service through the GO Application by Krungsri Auto is another important milestone in delivering innovation to better meet the various needs of automobile users. We are confident that the service will strengthen Krungsri Auto's position as the auto finance service provider that deeply understands customers and drive sustainable growth for our businesses," concluded Mrs. Kittiya.
Krungsri Auto recently launched its latest digital auto lending service for pilot use among the group of consumers who are in the process of buying new or used cars. The auto finance service provider also sets to collaborate with its automobile dealer partners nationwide to provide a comprehensive digital auto lending service, with additional features for improved user experiences, by the end of 2021.
Source: FleishmanHillard Thailand