A partnership between Weelee, a leading dealership group, and Kredo Mobility, a digital solutions provider dedicated to reshaping mobility in the country, is transforming the way vehicle financing is done in South Africa.
Using Kredo Mobility’s advanced solutions, which harness comprehensive data, consumers can now apply for vehicle finance through Weelee’s website, completing the process in just 90 seconds while meeting all regulatory requirements.
Traditionally, vehicle purchases in South Africa have been riddled with inefficiencies, delays, and high decline rates. Industry data shows that up to 70% of vehicle financing applications are rejected or not taken up and only 15% of leads are successfully converted into sales leaving many consumers and dealers frustrated.
“We are dealing with a market where creditworthiness is an issue, and millions of leads are going through the value chain but only a small percentage get approved,” says Kriben Reddy, CEO of Kredo Mobility. “It is a pressing issue. With this partnership, we are fundamentally changing the way consumers buy and sell cars by solving these pain points.”
For Errol Levin, Chief Operating Officer of Weelee, the partnership with Kredo Mobility represents a game-changer. “We implemented our new system in just four months, and it is already transforming the market.”
Enhancing the customer experience
At the core of this partnership is Kredo Mobility’s suite of data-driven solutions, which integrates seamlessly into Weelee’s operations via platforms like Salesforce.com. These tools allow Weelee to streamline processes and reduce red tape, offering consumers a more efficient and transparent experience, while still adhering to all regulatory requirements.
“We have significantly reinvented our customer engagements. Recently, we had a client come to our office, do a test drive, apply for financing, and get approved all within 45 minutes. This is all thanks to Kredo Mobility’s solutions that remove unnecessary steps and automate validations.”
Kredo Mobility’s data-driven approach ensures accuracy and integrity throughout the process. “We consolidate multiple data sources with the client’s consent into one system, eliminating errors, and giving accurate numbers,” says Levin. “This means consumers are matched with financing options fast.”
Trust and transparency
Key to this partnership’s success is the focus on transparency and trust. Kredo Mobility’s products, such as CarKYC for customer verification, CarValue for precise vehicle valuations, and CarTrust for fraud prevention, ensure that both dealers and consumers benefit.
“Fraud is a major challenge in the vehicle financing sector, and we are tackling it head-on. Our tools tick all the compliance and data integrity boxes to make the entire environment not only more efficient but safer as well,” says Reddy.
Levin agrees.
“Every individual who comes to Weelee receives a tailored experience, ensuring they get the right car and the best deal for their needs.”
While the partnership delivers efficiency, it is also about finding a way to give back to consumers. By simplifying a complex process and leveraging advanced technology, Weelee and Kredo Mobility are creating a fairer, more accessible automotive market.
“In many instances, we are faster and more efficient,” says Reddy. “This is about improving the overall consumer experience, not cutting corners.”
It comes down to providing Weelee with a comprehensive way of enhancing the customer experience.
“We want to give consumers instant gratification without compromising on quality or trust. From facial recognition for ID verification to accessing vehicle histories and trade-in values, we are delivering innovative solutions in partnership with Kredo Mobility that truly benefit our clients,” says Levin.
Homegrown solutions for local challenges
What sets this partnership apart is its focus on South Africa’s unique market needs. “We are not trying to overcome obstacles for a different country. We are two homegrown businesses solving local consumer challenges. By understanding the South African market, we have created solutions that work specifically for our environment. Having a willing partner in Weelee that shares this vision has been critical to the success of this project,” says Reddy.
Levin highlighted the importance of collaboration in driving innovation: “Many businesses have the tech and data but lack the willingness to truly put the consumer first. Weelee is proud to be a partner that shares Kredo Mobility’s vision of disrupting the status quo for the better.”
For Reddy, the partnership underscores the need for a broader industry shift: “Disruption is not about making noise; it is about solving real problems. Together with Weelee, we are creating better consumer experiences and setting a new standard for the market.”