The subsidiary of Banco Santander in the United States, Santander US, announced its participation in the capital increase operation of AutoFi, a platform dedicated to the digital trade of vehicles, thus redoubling its commitment to this segment of the automobile market.
The bank also expanded its partnership with AutoFi since 2018 with the aim of developing an end-to-end digital car buying experience for Santander Consumer customers, it said in a statement.
The new digital vehicle buying experience will include mobile, desktop and in-dealership tools to identify which cars fit the consumer’s budget, as well as different customer specifications to help complete transactions.
It will also streamline the financing process and allow customers to view a dealer’s inventory online and identify the cars they want and can afford before making a physical visit.
“By personalizing and streamlining the car buying process, everyone wins. Buyers see exactly what they can buy and dealers can handle each sale themselves to meet the needs of their customers”, said the CEO of Santander Consumer USA, Mahesh Aditya.
For his part, the co-founder and CEO of AutoFi, Kevin Singerman, celebrated that both his company and Santander share a “deep passion” for applying fintech innovation to make both the car buying and selling process seamless “a reliable and pleasant experience”.
Source: Gestion
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