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Brazil: financing contracts pre-approved in just one minute

Our subsidiary Banco RCI Brasil has developed pre-analysis for Renault and Nissan customers’ loan data, to make the purchase process shorter, more seamless, and more efficient for the customer.  Launched in September 2018, this new process requires just 6 criteria to provide the customer with a response concerning the financing request.  Customers evidently appreciate this streamlined process as, on average, approximately 1,000 financing contracts are signed every month thanks to this pre-analysis.

 

Since September 2018, 240,000 pre-analyses for car financing have already been undertaken

To offer a seamless an experience as possible, Banco RCI Brasil has reduced the number of data items used to generate the credit rating of each customer to six, with the service available directly via a mobile application. It now takes one minute (instead of 30) for sales advisers at dealerships to let customers know whether their financing request will be approved. And so the customer knows, when making the down-payment, whether their contract will be approved.

This pre-analysis a key advantage in the highly competitive Brazilian market, and is also a major innovation. Only two financing companies currently offer a similar service in Brazil.