Krungsri Auto launches Thailand’s first 100% online leasing approval service

Krungsri Auto

Krungsri Auto, a leader in automotive finance under Bank of Ayudhya PCL, strengthens its ecosystem with the launch of the comprehensive digital auto lending service on GO by Krungsri Auto application. Covering all segments, the service promises three key benefits: more comprehensive, more convenient, and more personalized. Krungsri Auto expects new volume via digital channels to grow by 53% as targeted, with a total amount of 10.6 billion baht, and stands ready to create a better everyday life for automobile users through partnerships in delivering a wide range of lifestyle solutions.

Mr. Congsin Congcar, Head of Krungsri Auto Group, Bank of Ayudhya PCL, said, “With the mission to create a better everyday life for automobile users, we have consistently developed our ecosystem through both auto finance solutions that effectively meet financial needs and lifestyle services that answer the everyday needs of automobile users, with GO by Krungsri Auto application acting as the main platform in delivering those experiences. For the past few years, our key focus has been the expansion of digital auto lending innovation. Today, Krungsri Auto customers can use our comprehensive digital auto lending service across all products and better manage their expenses with the new credit approval process.”

Krungsri Auto’s digital auto lending comes with three key benefits, as follows:

  • More comprehensive: Krungsri Auto’s digital auto lending is currently Thailand’s most complete service, covering new and used car, motorcycle, and big bike loans as well as EV loans. Customers can utilize the approved credit to make a vehicle purchase at Krungsri Auto’s dealership network nationwide. In addition, Car4Cash customers, who are vehicle owners needing financial liquidity for various purposes, can also use this approved credit.

  • More convenient: All of the steps are done on digital platforms, from loan application, information and NDID verification, and notification of approved credit, with no requirement to submit additional documents. Customers only need their ID card to sign the contract and make a vehicle purchase.

  • More personalized: For the first time, the auto loan’s credit amount is approved with Customer-based Lending approach through end-to-end online processes. The approved credit is based on a customer’s monthly ability to pay and comes with the option to customize loan terms, offering borrowers with assurance in managing their finances.

Krungsri Auto

“With more complete services, Krungsri Auto believes that we will be able to achieve our digital growth targets, with new lending volume via digital channels of 10.6 billion baht, a year-on-year increase of 53% and 6% of total new lending volume. Additionally, we will continue to strengthen our ecosystem through the expansion of strategic partnerships with manufacturer brands, dealers, providers of EV infrastructures, and technology providers to create new solutions that meet the everyday needs of automobile users across all groups,” concluded Mr. Congsin.

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