Mogo Romania, the 100% digital financial institution that finances used car acquisitions, marks the next steps in implementing its digitalization strategy and launches a new interface for car dealers. Thus, the company streamlines the process of credit granting and communication with partners, allowing them to upload the documents necessary for financing and determine the approvals’ status.
The module for dealers is a digital interface that the company’s partners can use to upload applications and documents required for financing, find out the status of approvals, and centralize information related to credit files. Through the platform, auto dealers can access the record of all contracts concluded between their customers and Mogo since the beginning of the partnership.
The company collaborates, at the moment, with over 460 national dealers, most of them localized in Bucharest, Cluj, Prahova, Timiș, and Sălaj. One of the objectives for 2023 is expanding the partnership network.
“We support people’s mobility, and implementing this module represents an important step in our strategy to digitalize and streamline operational processes. We are convinced that this will significantly reduce the approval period. The relationship with our partners represents an essential factor in our development, and we aim to expand our national network of partner dealers in the following period. In this sense, we are looking for organic growth of the portfolio by at least 20%”, states Ionuț Badiu, General Manager of Mogo Romania.
The Dealer Module supports communication between the company and its partners to keep them informed about the new functionalities of the platform and the digital processes initiated by the company. Moreover, car dealers can publish new car ads directly in the Mogo Auto Portal through the platform. This way, the fintech promotes its partners’ activity while providing a diversified offer to our customers, updating the vehicles’ availability in real-time.
„We have noticed over time that implementing a digital platform that centralizes all information regarding the customer database is necessary to improve the lending process. The transmission of the documents accompanying the funding request was done traditionally until now, which made the process difficult, increasing the response time of the requests. With the launch of the module for dealers, they benefit from real-time visibility on the status of a request, saving precious time„, says Andrei Constantin, Mogo Romania Sales Director.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
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