Smart Finance Platform (ONE-STOP-SHOP Solution)
Maruti Suzuki India recently announced the launch of their online financing platform –Smart Finance Platform –for Maruti Suzuki ARENA customers across more than 30 cities. The company said in a regulatory filing that 24 out of 26 steps in the customer vehicle purchase journey have been digitized with this platform. Smart Finance Platform offers customers a ONE-STOP-SHOP solution for vehicle finance needs.
The service includes an option to choose among a wide range of finance products based on the customer needs, selecting the best-suited loan product, completion of all finance related formalities, and disbursal of loan within a few clicks. Maruti Suzuki Website will act as a facilitator between the customer and financier providing real-time status updates and in turn, provide a hassle-free and transparent financing solution. “Going forward, different structured schemes such as balloon and step-up offers, among others can also be reviewed on one screen,” added the regulatory filing.
Transparency in Loan-Tracking
The Smart Finance Platform also offers transparency in loan-tracking and consumers will be able to check the loan status online at each stage of the process in real-time. Maruti Suzuki has onboarded twelve financiers for this facility including — State Bank of India, HDFC Bank, Mahindra Finance, ICICI Bank, IndusInd Bank, Bank of Baroda, Cholamandalam Finance, Kotak Mahindra Prime, Axis Bank, AU Small Finance Bank, YES Bank, and HDB Financial Services.
Reaching out to a larger Audience
Maruti Suzuki is India’s first OEM to offer an online end-to-end real-time car finance service facility. “We are overwhelmed with the response to our Smart Finance platform from our NEXA customers. Now we want to extend the ease of a car buying journey for our ARENA customers as well,” says Shashank Srivastava, Executive Director (Marketing and Sales) at Maruti Suzuki India. The pandemic situation has further increased the usage of digital platforms in India. With Smart Finance, Maruti Suzuki aims to reach a larger audience, assist them, and make every stage of the loan process transparent.
