The captive auto finance division of a premium German automobile brand wanted to capitalize on the ‘moment of truth’ by closing sales after a test drive at dealerships across the United States.

Infosys digitized the auto loan application process and expedited sales. Infosys’ Apple iCenter of Excellence leveraged rich experience of developing enterprise and B2C solutions to develop an iPad application replacing a manual, paper-based application process.

Key Challenges

  • After a test drive, prospects dropped out between the showroom and the sales office due to paperwork related to the car loan application
  • Influence purchase behavior with an advanced digital sales process for automobile finance

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The Solution

Seized the first-mover advantage with end-to-end auto finance on an iPad app to close a sale on the spot

Infosys’ iPad app helps dealers generate a quote instantly after a test drive. The new auto finance process equips prospects with information to submit a credit application immediately. It helps the auto finance company cultivate customers with offers on car models and a smoother process for the return of leased vehicles. Automobile finance can be finalized on the spot without going back and forth between field inventory and the dealer’s office.

Infosys integrated the iPad app with the auto finance company’s proprietary point-of-sale dealer system. This system was enhanced with the Safari WebKit and the latest W3C standards for iPad and iPhone access. It is available across Web browsers and operating systems. The application allows requests to support documents that are not compatible with iOS.

Our team built a robust back end based on a microservices framework to interface with dealer management, customer relationship management, and inventory management systems. A Web admin application supports vehicle customization and configuration in different regions.

Infosys’ iPad app was the first of its kind in the captive auto finance segment

  • Converted the auto loan sales cycle from a manual, paper-based process to a digitized functionality on a mobile app
  • Boosted productivity of the sales team at dealerships
  • Reused existing point-of-sale IT infrastructure, thereby avoiding upfront capital expenditure
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Benefits

Our auto finance application converted prospects into car owners –

Registered revenue of more than US$ 10 million in monthly lease and loan payments within one year of launch

Registered revenue of more than US$ 10 million in monthly lease and loan payments within one year of launch

Introduced at 355 dealerships across the United States after a successful pilot program in 40 showrooms

Introduced at 355 dealerships across the United States after a successful pilot program in 40 showrooms