Groupe PSA’s financing subsidiary in China (DPCAFC) has been offering an innovative O2O solution (online to offline, and offline to online) since 21 December. It allows customers to obtain a loan in just a few minutes using their smartphone, giving dealers the freedom to focus on meeting customer needs.
The DONGFENG PSA Finance app, available for download on Android and iOS, uses different technologies such as electronic signatures, optical character recognition and the latest facial recognition techniques, some of which call on artificial intelligence. Groupe PSA is the first carmaker in China to provide a solution of this type. The new app puts it at the forefront of innovation in automotive financing services, and gives it a significant edge in terms of processing times for customer loan requests.
For customers, the app is simple and fast to use. After selecting their vehicle and indicating the type of financing they want, they simply scan their ID card and credit card before checking their personal and banking information, collected by optical recognition. They then photograph and film themselves to meet legal requirements and validate their identity by facial recognition. It only takes them a few minutes and a few clicks on their smartphone to submit their loan application. The new method, which is based on six-step authentication coupled with 10 simple questions, allows DPCAFC to give its decision in under 10 seconds.
Chinese dealers have welcomed the O2O solution. Not only does it put customers in charge of their own financing arrangements and allow them to monitor each step of their application, it also gives teams at dealerships the possibility of cementing a more qualitative commercial relationship. Customers’ profiles can simply be pulled up on a tablet when they come in, allowing dealers to focus the sale on the vehicle itself.
To mark the launch of the app, Franck Malochet, Deputy Chief Executive Officer at DPCAFC, said: “The new app illustrates our commitment to improving the customer experience, facilitating access to credit, and providing a simple, user-friendly tool as part of the car buying process. We are pioneers in this field in China, as a carmaker integrating and using the latest available technologies authorised on the market. Ultimately, the application will be enhanced and will allow all customers to seamlessly manage their financing, insurance and services.”