KUALA LUMPUR: CIMB Bank Bhd and CIMB Islamic Bank Bhd have launched the CIMB Auto Dealer App, a mobile application that enables automotive (auto) loan/financing approval within one minute upon full submission of required documents.
In a statement, the bank said the App is the first auto financing platform of its kind in Malaysia, empowering car dealers by enabling fast, secure and seamless digital application submissions and processing for auto financing.
CIMB said with the CIMB Auto Dealer App, car dealers nationwide can submit financing applications anytime and anywhere, with a real-time submission tracking feature that updates dealers on the status at every stage of the process.
“This digital financing solution is introduced to ease customers’ car purchasing journey and decision-making. It also aims to simplify and expedite the auto financing submission process for car dealers, enabling them to allocate more resources towards customer support and sales.
“The app’s one-minute approval time for eligible applicants is the fastest in the market today,” it said.
CIMB disclosed that 15 CARSOME Experience Centers are already onboarded with the CIMB Auto Dealer App to support CARSOME’s customers on their vehicle financing needs.
CIMB Group consumer banking CEO Samir Gupta said: “We are pleased to have partnered with CARSOME, a leader in the region’s automotive e-commerce space, for the initial rollout of our CIMB Auto Dealer App. We look forward to working closely with CARSOME and supporting their customers’ auto financing needs through this seamless digital auto financing solution.”
“With the success of this partnership, we look forward to onboarding other car dealers nationwide to make the auto financing process more convenient and transparent with a fully-digital process and real-time status tracking.
“The App reflects our commitment to continuously improve and simplify the banking experience for our customers and partners through digital innovation, in line with our focus on customer centricity under our Forward23+ strategic plan,” he said.
The CIMB Auto Dealer App is the latest addition to the CIMB InstaApproval series. The series includes, among others, CIMB’s 1-Minute Auto Financing InstaApproval for selected auto dealers and 1-Minute Home Financing InstaApproval which were launched in 2018.