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success story

Creating a hassle-free online car buying experience

A digital marketplace that offers end-to-end vehicle financing.
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challenge
Vehicle financing required customers and dealers to move out of the company’s existing digital platforms, resulting in higher dropouts and, potential loss of revenue. The offline process was complicated, time-consuming, and lacked transparency, leading to a lower purchase action ratio (PAR).
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solution
Nagarro co-created a digital finance marketplace where customers can browse and compare loan offers from 14+ financiers, customize EMI by choosing interest rate and tenure, select a down-payment scheme, upload digital documents, and get the loan sanctioned in real-time. The microservices-based cloud-native platform is highly reliable, secure, and scalable. It leverages Mulesoft to seamlessly integrate with financial institutions, credit bureaus, enterprise systems, and dealerships.
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outcome
The digital vehicle financing solution provides an easy and transparent way for customers to explore multiple loan offers and fulfill their car-finance needs while delivering the automaker insights about new leads and customer segments. It helps financial institutions reach out to more customers with personalized offers. For the dealers, it saves operational costs. The platform is poised to attract 1.5Mn+ customers annually.