CARS24 Financial Services, a wholly owned subsidiary of CARS24, has partnered with Credgenics, SaaS-based debt collections and resolution tech platform, to digitise collections process. 

The integrated platform includes various modules that cover the end-to-end collections lifecycle and enables the team at CARS24 Financial Services to drive higher operational efficiency, provide personalized service to customers and scale operations rapidly at ease.

While catering to both pre-due and post-due stages, the Credgenics platform has swiftly enabled the transformation from a traditional approach to a data-oriented model that leverages workflow automation, integrated communications and advanced ML capabilities. The emphasis is on automation, eliminating manual processes including data upload, tracking and reporting and ensuring a seamless transition to a fully digitised ecosystem.

Ruchit Agarwal, Co-founder and CFO, CARS24, stated, "Our collaboration with Credgenics for the enablement of digital debt management processes is supporting our mission to provide a more seamless debt financing experience for our customers."

Rishabh Goel, Co-Founder and CEO of Credgenics, said, "The Indian car financing landscape has undergone a significant transformation, driven by a robust emphasis on digitisation. Our collaboration with CARS24 Financial Services exemplifies the influential role of digital transformation in the financial services sector."