Success Stories iConnector : AYCAL

From Weeks to Hours: How AYCAL Transformed the Sales Process for Faster Success

AYCAL reduced its loan processing time from weeks to hours by automating data entry and approvals with iConnector, gaining a competitive edge at Thailand’s Motor Show and enabling faster service for high-credit customers.

Ayudhya Capital Auto Lease (AYCAL)

AYCAL, a subsidiary of Krungsri Bank, is a leading automotive finance provider in Thailand. It offers tailored financing solutions for new and used vehicles, motorcycles, and commercial fleets, providing efficient and customer-focused loan services across the automotive sector.

Industry
Financial Services

Company Size
Large

Location
Bangkok, Thailand

Contents Overview

The Motor Show in Thailand is a key event in the automotive industry, attracting hundreds of thousands of visitors and driving substantial car sales. In 2021, the Motor Expo drew over 1.15 million visitors and saw more than 30,000 cars and 3,000 motorcycles reserved, generating an estimated 44 billion baht in revenue (Nation Thailand, ASEAN NOW). For hire purchase companies, this event is critical as it significantly boosts demand for vehicle financing. With many visitors looking to purchase cars, these companies have a prime opportunity to provide financing solutions, expanding their customer base and increasing sales.

Inefficiencies in Paper-Based Loan Applications

AYCAL faced delays in processing loan applications, which were traditionally done on paper. The process—from customer form completion, document verification, to credit approval—took up to a week. This slow response time made it difficult to serve good credit customers promptly. Additionally, loan requests were manually entered into IBM i screens, which was both time-consuming and prone to errors due to the need for re-entry.

Enhancing Efficiency in Loan Approvals with iConnector and Mobile Solutions

AYCAL decided to streamline the process by:

  • Identifying the working process on IBM i that relates to inputting and approving loan requests.
  • Developing APIs on iConnector to automate the loan application data entry and loan approval on IBM i screens.
  • Creating a user-friendly iPad application to call these APIs, enabling faster processing of loan requests.

AYCAL’s Rapid Loan Processing Gives Competitive Advantage at the Motor Show

With the new system in place, AYCAL was able to process and approve loans for high-credit customers more quickly than its competitors at the Motor Show. This gave them a significant advantage, allowing them to serve customers more efficiently and close deals ahead of other hire purchase companies.

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