CIMB 1-Minute Auto Financing InstaApproval™ facilitates car ownership within a minute KUALA LUMPUR, June 1 (Bernama) -- CIMB Bank Berhad and CIMB Islamic Bank Berhad (“CIMB” or “the Bank”) yesterday unveiled the CIMB 1-Minute Auto Financing InstaApproval™, a digital platform that approves auto financing within one minute upon full submission of information and documents. This marks the latest addition to CIMB’s InstaApproval™ series, which also features the 1-Minute Home Financing InstaApproval™. This series offers a fast, secure, paperless and complete online financing approval process involving, among others, biometric fingerprint identification.
The CIMB 1-Minute Auto Financing InstaApproval™ is a paradigm shift in approval time for auto financing, which typically takes a day. It reduces customers’ waiting time for the financing decision in the process of purchasing a car. Available for all types of cars, both new and used, the approval comes complete with the issuance of a Letter of Undertaking and instant notification via SMS and email to the customer and car dealer.
Samir Gupta, CEO, Group Consumer Banking, CIMB Group said, “The speedy approval process of CIMB’s 1-Minute Auto Financing InstaApproval™, currently the fastest in market, is not only a reflection of our commitment to digital innovation as laid out in our T18 Strategy, but also a great milestone in CIMB’s journey to continuously enhance our customers’ experience. Our InstaApproval™ platform – which cuts down waiting time considerably – was designed around customers’ ultimate convenience. We are confident that the 1-Minute Auto Financing InstaApproval™ proposition will be a game-changer for us and our auto partners, by enabling customers to own their dream car within a minute.”
The CIMB 1-Minute Auto Financing InstaApproval™ will be available at selected partner showrooms, partner roadshows, as well as selected used car dealers. Currently, seven partners are participating in the CIMB 1-Minute Auto Financing InstaApproval™ i.e. Cycle & Carriage Bintang Berhad, Edaran Tan Chong Motor Sdn Bhd, Honda Malaysia Sdn Bhd, Ingress Auto Malaysia Sdn Bhd, Perodua Sales Sdn Bhd, Perusahaan Otomobil Nasional Sdn Bhd, and UMW Toyota Motor Sdn Bhd. More partners will be added to this platform in future.
In March 2018, CIMB launched the 1-Minute Home Financing InstaApproval™ that approves mortgages within one minute upon full submission of information and documents. The CIMB InstaApproval™ platform also facilitates applications for personal financing, Amanah Saham Bumiputera financing and credit cards. For more information, please visit
www.cimbbank.com.my/insta and
www.cimbislamic.com.my/insta-i.
CIMB’s InstaApproval™ platform is also offered as part of the recently launched CIMB F.I.R.S.T., a holistic financial solutions proposition that is unique to each customer’s needs and life stage. CIMB F.I.R.S.T. stands for Finance, Insure, Returns, Save and Transact premised on savings, financing, insurance, investments and credit cards. It is available through www.cimbbank.com.my, www.cimbislamic.com.my and via CIMB branches for customers requiring face-to-face assistance.
About CIMB Bank CIMB Bank is the consumer banking arm of CIMB Group, offering retail and commercial banking services.
CIMB Group is one of ASEAN’s leading universal banking groups and is Malaysia’s second largest financial services provider, by assets. It offers consumer banking, commercial banking, investment banking, Islamic banking, asset management and insurance products and services. Headquartered in Kuala Lumpur, the Group is now present in nine out of 10 ASEAN nations (Malaysia, Indonesia, Singapore, Thailand, Cambodia, Brunei, Vietnam, Myanmar and Laos). Beyond ASEAN, the Group has market presence in China, Hong Kong, India, Sri Lanka, Korea, the US and UK.
CIMB Group has the most extensive retail branch network in ASEAN of around 850 branches as at 31 March 2018. CIMB Group’s investment banking arm is also one of the largest Asia Pacific-based investment banks, offering amongst the most comprehensive research coverage of more than 700 stocks in the region.
CIMB Group operates its business through three main brand entities, CIMB Bank, CIMB Investment Bank and CIMB Islamic. CIMB Group is also the 92.5% shareholder of Bank CIMB Niaga in Indonesia, and 94.1% shareholder of CIMB Thai in Thailand.
CIMB Group is listed on Bursa Malaysia via CIMB Group Holdings Berhad. It had a market capitalisation of approximately RM 66.1 billion as at 31 March 2018. The Group has around 37,000 employees located in 15 countries.
SOURCE : CIMB Group FOR MORE INFORMATION, PLEASE CONTACT:Name: Suria Zainal Group Corporate Communications Group CEO’s Office CIMB Group Holdings Berhad Tel: +603 - 2261 0638 Email: suriawati.zainal@cimb.com --BERNAMA 
