EY Digital Car Financing
Arrange online car financing from any device in just 15 minutes, covering the whole customer journey from car configuration, financing and insurance set-up to vehicle handover, suitable for both retail and SMEs.
About the EY Digital Car Financing
Whether you are a bank, leasing company, OEM or importer, EY Digital Car Financing allows you to transition your operations into the digital realm, ensuring effortless access for your customers, and enabling you to:
Forge a new digital sales channel and distribute directly to end-users.
Streamline your internal procedures by replacing cumbersome paperwork with efficient digital processes.
Offer your clients ultimate convenience, such as enabling them to finance a car at their convenience, free from the constraints of traditional opening hours.
Track the entire process in the back-office.
Features of the EY Digital Car Financing
Our solution offers car customization and adjustments based on customer inputs and requirements. It also takes care of the calculation of the financial and insurance parameters.
Safety is taken care of by combining KYC, credit rating and identity verification. Signing all documents by e-signature at the click of a button goes without saying.
Digital car financing takes it one step further thanks to online check of the car’s VIN code as well as generation and delivery of the documents necessary for car registration.
Thanks to the back-office function, operators and administrators can track applications which helps them with analysis, investigation and manual assessment.
Benefits of the EY Digital Car Financing
The EY Digital Car Financing can be provided as a comprehensive package or a specifically tailored solution to suit your requirements. With a tailored solution you are free to choose one or multiple features to fill in gaps in your current processes.
Solution is prepared for deployment within 5 months, our local experts and hands-on experience allow us to pinpoint gaps, assess requirements, and explore customization possibilities.
To implement this solution, we bring together specialist from a wide range of financial services and product development areas.
We take care of the business analysis as well as process optimization. All this is performed in a close cooperation with the client to disrupt the establishe norms and policies while focusing on improving the user experience.
We make sure our solution is compliant with local AML, data protection, consumer credit and consumer protection regulations (incl. Insurance regulations). We also ensure that client identification and e-signature methods are relation compliant.
It doesn't matter if it is a fully digital or manual assessment. We have experience with creating robust underwriting mechanisms including anti-fraud controls, risk skoring and ensuring overal data security.
We bring together experience in IT architecture & development. Our solutions use real-time integrations, innovative technologies and follow a mobile first approach.
Who is behind the EY Digital Car Financing Solution?
EY's financial services team helps major banks, leasing and insurance companies by providing financial analysis, risk assessment, business performance optimization, cost management, and technology-driven solutions. We collaborate with clients to enhance financial processes, develop growth strategies and leverage emerging technologies to drive innovation and improve financial outcomes.
We know where the market is going and what financial institutions should do to maintain their position in the future. We understand the business processes from financial institutions to dealers. From rigorous market research including EY’s SMEs and Consumer Banking Surveys, we also know what bothers your clients. Recognizing your clients' preference for simplicity, personality, and digital solutions, we have developed the Car Financing Solution.
Like what you’ve seen? Get in touch to learn more.