CARS24 Financial Services has entered into a strategic collaboration with Credgenics, the frontrunner in SaaS-based debt collection and resolution technology. As a direct subsidiary of CARS24, India’s premier AutoTech entity, this partnership marks a significant leap towards enhancing the car ownership experience. By leveraging the technological prowess of Credgenics, CARS24 is set to revolutionise the car financing sector, offering customers a seamless and innovative journey.

Credgenics’ platform introduces a tech-driven strategy for CARS24 Financial Services, encapsulating data-driven insights for strategic decision-making, digital-first communication strategies, and automation across the collections lifecycle. This synergy is aimed at bolstering operational efficiency, providing tailored services to clients, and facilitating swift scalability.

The collaboration brings the CG Collect app into play, which optimizes field operations, eases reconciliation processes, digitalizes visit scheduling, and provides comprehensive tracking functionalities. Its features, such as operation in offline modes, simplified repayment methods, and real-time monitoring of field personnel, are instrumental in enhancing the efficacy of CARS24’s operations across over 180 Indian cities.

Transitioning from traditional methods to a data-centric approach, the platform empowers CARS24 Financial Services with workflow automation, seamless communication, and advanced machine learning capabilities. This move towards automation eradicates manual tasks such as data entry and progress tracking, thereby fostering a digitally immersive ecosystem.

Ruchit Agarwal, Co-Founder & CFO of CARS24, expressed enthusiasm about the venture, emphasizing the drive towards making car ownership easy and accessible. The digital debt management tools provided by Credgenics are a testament to their commitment to improving the debt financing landscape for their customers.

Rishabh Goel, CEO and Co-Founder of Credgenics reflected on the transformation within the Indian car financing arena, highlighting the pivotal role of digitalization. This partnership underlines Credgenics’ dedication to enhancing customer experiences and operational efficiencies for CARS24, reinforcing its commitment to innovation within the fintech sector.

This partnership between CARS24 Financial Services and Credgenics stands as a beacon of progress in the digital lending domain, heralding a new era of customer-centric and efficient automotive financing solutions.

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