Axis Bank partners Hyundai Motor India to provide digital smart financial solutions

by Autocar Pro News Desk , 06 Jan 2021

Axis Bank, India’s third-largest private sector bank has partnered Hyundai Motor India (HMIL), to offer auto retail financing solutions to its customers through Hyundai’s end-to-end online automotive retail platform ‘Click to Buy’ (CTB).

In a continuous effort to provide seamless digital solutions to its customers, Axis Bank says through this partnership with HMIL will allow customers to view process and avail auto loan sanction directly on Hyundai’s CTB platform. This solution provides customers with the convenience of acquiring requisite funding for their desired Hyundai car through a ‘one-stop-shop’ platform catering to all their vehicle purchase needs. This new facility will enable customers based out of both urban and rural markets to avail car financing online in the most effective manner.

Speaking on the initiative, Sumit Bali, president and head Retail Lending and Payments, Axis Bank said, ‘’ We are delighted to partner with Hyundai Motors and make online financing a quick and hassle-free process for all customers. To reinforce our commitment towards seamless digitisation, Axis Bank has ensured that customers can now get pre-approved loans directly. In the current pandemic situation, this initiative will ensure that customized finance products are digitally available to all customers, bringing them one step closer to owning their dream car."

W S Oh, executive director – Corporate Planning, Hyundai Motor India said “With our approach of ‘Future Ready’, we aim to simplify and ease our customers’ car buying experience.  ‘Click to Buy’ is designed to facilitate end-to-end retail of Hyundai cars online, making new car purchase contactless, safer, and convenient. Our partnership with Axis Bank will initiate a new beginning for the customers with the lucrative and attractive online finance deals available on the platform. Since the launch of ‘Click to Buy’, we have received over 7 million visitors and have recorded over 47,000 registrations, which showcase customers’ preference towards smart mobility solutions.”

According to Axis Bank the auto loans industry is now looking at a paradigm shift in providing customers a unified native journey right from car research to online booking, online loan sanction to closing all formalities and getting the car delivered at their doorstep.