The mobile application will help car dealers to expedite the auto financing application process in a fast, secure and seamless manner  

KUALA LUMPUR, July 25 (Bernama) -- CIMB Bank Berhad and CIMB Islamic Bank Berhad (“CIMB” or “the Bank”) have rolled out the CIMB Auto Dealer App (“the App”), a mobile application that enables automotive (“auto”) loan/financing approval within one minute¹ upon full submission of required documents. 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. 
 
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.
 
In order to accelerate the rollout, CIMB has partnered with CARSOME, Southeast Asia’s largest integrated car e-commerce platform, with 15 CARSOME Experience Centers already onboarded with the CIMB Auto Dealer App to support CARSOME’s customers on their vehicle financing needs. With the success of the initial rollout, the Bank plans to roll out the App to more new and used car dealerships nationwide. 
 
Samir Gupta, CEO, Group Consumer Banking of CIMB Group 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.”
 
Eric Cheng, Co-Founder and Group CEO of CARSOME said, “We are excited to work with CIMB to introduce Malaysia’s first Auto Dealer App for vehicle financing. Our partnership will enable more efficient financing approval for customers to purchase cars on CARSOME’s platform, providing them with a seamless and hassle-free experience. This is another step forward in our commitment to building the most trusted end-to-end ecosystem in the automotive industry.”
 
The CIMB Auto Dealer App is available for both new and used car financing, with loan submissions being administered in real-time during processing hours² to provide greater flexibility and convenience. Once an application has been approved, a letter of undertaking and notifications via SMS and email will be issued to the car dealer and customer immediately. 
 
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. 
 
For more information, please visit https://www.cimb.com.my/en/business/solutions-products/financing/enterprise-auto-financing/auto-dealer-app.html
 
About CARSOME
CARSOME is Southeast Asia’s largest integrated car e-commerce platform. With operations across Malaysia, Indonesia, Thailand and Singapore, CARSOME aims to digitize the region’s used car industry by reshaping and elevating the car transaction and ownership experience.
 
Together with Subsidiary Brands iCar Asia, WapCar and Cartimes, CARSOME provides end-to-end solutions to consumers and used car dealers across the decision funnel, from car content consumption, car inspection, ownership transfer to financing and other ancillary services, promising to bring trust, transparency and choice to our customers. CARSOME currently has more than 3,000 employees across all its offices in Asia. 
 
For more information, please visit www.carsome.com. 
 
About CIMB  
CIMB is one of ASEAN’s leading banking groups and Malaysia’s second largest financial services provider, by assets. Listed on Bursa Malaysia via CIMB Group Holdings Berhad, it had a market capitalisation of approximately RM54.5 billion as at 31 March 2022. It offers consumer banking, commercial banking, wholesale banking, transaction banking, Islamic banking and asset management products and services. Headquartered in Kuala Lumpur, the Group is present in all 10 ASEAN nations (Malaysia, Indonesia, Singapore, Thailand, Cambodia, Brunei, Vietnam, Myanmar, Laos and Philippines). Beyond ASEAN, the Group has market presence in China, Hong Kong, India, South Korea, the US and UK.
 
CIMB has one of the most extensive retail branch networks in ASEAN with 621 branches and around 33,000 employees as at 31 March 2022. CIMB’s investment banking arm is one of the largest Asia Pacific-based investment banks, which together with its award-winning treasury & markets and corporate banking units comprise the Group’s leading wholesale banking franchise. CIMB is also the 92.5% shareholder of Bank CIMB Niaga in Indonesia, and 94.8% shareholder of CIMB Thai in Thailand.
 Source: CIMB Bank Berhad 

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Hishamuddin Omar / Anis Azharuddin
Group Corporate Communications 
CIMB Group Holdings Berhad
Email: hishamuddin.omar@cimb.com / anis.azharuddin@cimb.com

--BERNAMA