Volkswagen Financial Services selects Onfido & Scrive to launch digital financing solution
By Megha Bhattacharya
Volkswagen Financial Services has teamed up with Scrive and Onfido in a bid to launch its next-generation digital financial solution for UK dealerships. The new collaboration will see Scrive’s electronic signature service and Onfido’s digital identity verification services integrated into the financial services company’s process. The partnership is expected to simplify the process of customer identity verification and signing financial agreements.
“Scrive and Onfido enable a fast, compliant and error-free financing process while providing a first-class customer experience for car buyers,” said Scrive CEO Viktor Wrede. “This joint solution with Volkswagen Financial Services UK leverages Scrive’s substantial penetration in the automotive sector. This rollout constitutes Scrive’s biggest expansion to date into the UK market and further strengthens our leadership position as a provider of agreements automation solutions.”
“Scrive and Onfido bring the experience and expertise we were looking for to provide a thoroughly modern, secure financing experience for our dealerships and their customers,” said Titus Ackah-Sanzah, Product Owner at Volkswagen Financial Services UK. “The response from our dealers is very positive: a clear, easy to follow process that streamlines the purchase experience and expedites the payout time.”
According to Onfido, it first checks the ingenuity of the ID and matches it to the user’s face. Scrive’s service then allows signing parties to formalise documents on any device, in person or remotely, resulting in a legally-binding agreement supported by a world-class evidence log and protected against tampering using blockchain technology.
“As contactless transactions become more critical than ever, the ability for Volkswagen Financial Services to empower its dealerships to remotely and securely identify new customers is critical,” said Oliver Krebs, VP of Central EMEA at Onfido. “The modern workflow means that there is no requirement for customers to provide additional documentation to prove their real identity, and can formalise financial agreements on any device. We’re delighted to partner with Scrive to meet these demands, providing a world-class digital service that helps them onboard customers quickly and securely.”