Now get two-wheeler loans in two minutes. Yes, technology-driven consumer finance NBFC Credit Wise Capital launched its AI backed and WhatsApp integrated bot Twin2. The bot is aimed to enable a seamless client experience where customers can interact with the Credit Wise team to quickly access loan options, understand terms, and receive a sanction letter for their two-wheeler, within two minutes (Tw[in]2).
Unlike the conventional dealer culture in India, Twin2 is a step forward in having a unified interface that stays the same for all customers. Physical cutouts with scannable QR codes of the Twin2 rendition have been placed in over 500 dealerships across the country, connecting them directly with the bot.
Users can simply chat with the bot where they need to answer a few questions. Post it, the bot will guide them to the nearest partner dealership based on their location, allowing them to show their sanction letter for their two-wheeler. The two-wheeler loan service comes with a flexible repayment tenure of 24-36 months and EMI is determined according to the tenure.
“The winner in the two-wheeler finance industry will be the one that is able to control the customer acquisition costs. If one can control that, they can scale pan India exponentially in a branchless model and that is what we aim to do at Credit Wise Capital” Aalesh Avlani, Founder at Credit Wise Capital.
Launched pan India this month, the Twin2 bot has already received 5000 logins in its first week of operations. Speaking about the success of Twin2 at his sales store, Karan Thappar, the owner of Pilot Honda said “Twin2 is something customers have not seen before. This is the symbol of transparency, and execution of speed. This is the new era for dealers and financial institutions and Credit Wise Capital is leading this.” Pilot Honda is one of the biggest dealership of Honda pan India.
It’s easy to understand why customers and dealers alike are receptive to this new venture. “Today’s digital India prefers to operate without any assistance, and we intend to give them the wings to ride their two-wheeler in this manner itself. The average time a customer spends at a dealership is over an hour but with Twin2, we intend to reduce it to 2 minutes.” said Bhavik Davda, Vice President at CWC.
Twin2 receives leads for the loan sanctions using Credit Wise’s existing digital partners to simplify the transaction for users. It also leverages the existing customer bases with Credit Wise Capital integrated with partner platforms to curate an efficient customer experience. Today Credit Wise has already gotten itself embedded on multiple fintechs leading to about 2,000 leads for two-wheeler loan per day. Additionally, the integration also helps cut costs for fintech partners, and shaves down the time consumed by heavy API integrations.
With credible growth, Credit Wise, via Twin2 aims to be the preferred digital lending partner for all OEMs, including electronic two-wheeler manufacturers in the future.