Observers of transportation patterns are noticing significant shifts—in customer expectations and behavior—in the automotive industry and in the broader competitive landscape. This is leading to a significant change in the customer lifecycle and the way in which transportation and automotive services are consumed. To meet the needs of their customers and maintain their competitiveness in the future, banks and captive auto finance companies need to develop new skills and offerings.
API-based architecture & partnering models
Integrate products and services
Extend customer reach through partner networks
Customer lifecycle management optimization
Support customers over the entire lifecycle
Increase customer retention and boost loyalty
Data-driven & intelligent business operations
Analyze data to create individual service offerings
Evaluate channels and assets to achieve operational excellence
Flexible contract management & agile operations
Use new technologies to develop flexible products and services
Accelerate speed to market with DevOps
Customer-centric user experience
Enable a best-in-class digital product range
Create positive customer experiences to increase conversion rates
Business models with a future
We have developed three promising strategies for auto finance providers that will enable their continued success. We tested these models with executives from across the industry.
Offers customers a completely digital end-to-end experience.
Integrates services from various partners, retaining ownership of the customer interface.
Mobility service provider
Complements the mobility offering by providing services such as subscription, car-sharing and home delivery.
Auto finance organizations should act to remain relevant
If auto finance providers continue to rely on their traditional strategic positioning—including their existing business models and current core competencies—they will find it difficult to retain their customers and maintain their competitiveness. Instead, they should rethink their business model and develop a transformation strategy. At the same time, depending on their focus, they should also develop new core competencies. This will help them stay relevant and participate in the automotive industry’s rapidly growing ecosystem of services. Register to read our report to learn how leading auto finance providers are staying relevant in today’s market. Contact your Accenture lead to discuss your organization’s financing strategies.