Garanti BBVA, a leading bank in Turkey, is transforming the automotive finance and service landscape through innovative digital solutions and strategic collaborations. With a focus on enhancing customer convenience and promoting sustainable practices, the bank has introduced several innovative features and services.
Opportunities and threats facing financial services providers in the mobility revolution
My Vehicle: A one-stop solution for all vehicle-related needs
Garanti BBVA has integrated a new feature called "My Vehicle" into its widely used mobile app, Garanti BBVA Mobile. This feature consolidates all vehicle-related products and services into a single platform, making it easier for customers to manage their automotive needs. By adding their license plate information, users can track transactions, expenditures, and campaigns related to their vehicles.
On the My Vehicle page, customers can access various services, including the Fast Pass System (HGS), Motor Vehicles Tax (MTV), and insurance. The platform also allows users to monitor expenses such as fuel, parking, and vehicle maintenance, helping them manage their budgets more effectively. Personalized reminders for MTV payments, traffic fines, and insurance renewals, along with sustainable recommendations, further enhance the user experience.
Instant loan from dealer: Streamlining car loan approvals
In January 2024, Garanti BBVA simplified the car loan approval process with its Instant Loan from Dealer (BAK) feature. This service enables customers to complete vehicle finance transactions quickly and efficiently through digital document approval on the Garanti BBVA Mobile app.
According to Murat Çağrı Süzer, Garanti BBVA's Executive Vice President, the bank aims to make customers' lives easier by evolving its services. As a leading provider of consumer finance, Garanti BBVA ensures that vehicle loans can be approved and completed within 30 minutes, without customers needing to leave the car dealership. This digital approach not only saves time but also contributes to environmental sustainability by reducing paper usage.
Ecommerce loan for car rentals: Promoting electric mobility
Finally, a year ago, in a strategic partnership with Enterprise Türkiye, Garanti BBVA launched Turkey's first ecommerce loan for car rentals. This Buy Now Pay Later (BNPL) loan allows customers to rent energy-efficient electric vehicles with low carbon footprints. The loan offers attractive interest rates and favorable payment terms, supporting both environmental protection and mobility.
Garanti BBVA Consumer Finance Director Koray Öztopçu highlighted the growing interest in electric mobility and car rentals, particularly in large cities. The ecommerce loan provides customers with the flexibility to meet their transportation needs without the long-term commitment of owning a vehicle. This initiative aligns with Enterprise Turkey CEO Özarslan Tangün's vision of a future where car rental and sharing become increasingly popular and accessible.
