{"id":831,"date":"2021-04-07T13:54:54","date_gmt":"2021-04-07T13:54:54","guid":{"rendered":"https:\/\/decentro.tech\/blog\/?p=831"},"modified":"2024-06-13T11:31:54","modified_gmt":"2024-06-13T11:31:54","slug":"how-kuwy-optimized-instant-automative-loans","status":"publish","type":"post","link":"https:\/\/decentro.tech\/blog\/how-kuwy-optimized-instant-automative-loans\/","title":{"rendered":"How KUWY Optimized Instant Automotive Loans with Decentro"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_17 counter-hierarchy\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class=\"ez-toc-list ez-toc-list-level-1\"><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/decentro.tech\/blog\/how-kuwy-optimized-instant-automative-loans\/#How_Does_KUWY_Work\" title=\"How Does KUWY Work?\">How Does KUWY Work?<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/decentro.tech\/blog\/how-kuwy-optimized-instant-automative-loans\/#What_were_KUWYs_Key_Challenges\" title=\"What were KUWY\u2019s Key Challenges?&nbsp;\">What were KUWY\u2019s Key Challenges?&nbsp;<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/decentro.tech\/blog\/how-kuwy-optimized-instant-automative-loans\/#How_Decentro_Enabled_KUWY\" title=\"How Decentro Enabled KUWY&nbsp;\">How Decentro Enabled KUWY&nbsp;<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/decentro.tech\/blog\/how-kuwy-optimized-instant-automative-loans\/#What_were_the_Key_Wins_for_KUWY\" title=\"What were the Key Wins for KUWY?\">What were the Key Wins for KUWY?<\/a><\/li><\/ul><\/nav><\/div>\n\n<figure class=\"wp-block-image size-large featured-post-img\"><img loading=\"lazy\" width=\"854\" height=\"854\" src=\"https:\/\/decentro.tech\/blog\/wp-content\/uploads\/How-KUWY-Optimized-Instant-Automotive-Loans-with-Decentro.png\" alt=\"Kuwy\" class=\"wp-image-6210\"\/><\/figure>\n\n\n\n<p>It goes without saying that majority of us must have dreamt of owning a car, especially after our bank accounts started the \u2018ka-ching\u2019 with salaries.&nbsp;<\/p>\n\n\n\n<p>Maybe it could be a brand new car, or it could be a second-hand gig. Perhaps it could be a sleek sedan, or it could be a cozy hatchback.&nbsp;<\/p>\n\n\n\n<p>Realizing that hopes come in all shapes &amp; sizes, a platform set out to revolutionize automotive loans for second-hand cars and connect a borrower with the right lender.&nbsp;<\/p>\n\n\n\n<p>KUWY is an automotive instant lending fintech platform that simplifies vehicle loans by enabling end-to-end digital loan approvals, processing, and disbursals.<\/p>\n\n\n\n<h2><span class=\"ez-toc-section\" id=\"How_Does_KUWY_Work\"><\/span>How Does KUWY Work?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>KUWY works on loan forecast tools, along with scoring algorithms, to profile a customer\u2019s automotive loan requirement and predict the loan bracket they are eligible for.&nbsp;<\/p>\n\n\n\n<p>The platform uses Artificial-Intelligence-based algorithms for lender selection(LSA) and streamlines a fully automated profile-based offering to consumers. Likewise, KUWY employs machine learning to run loan approval forecasts based on customer profiles.&nbsp;<\/p>\n\n\n\n<p>In essence, a customer is matched with a lender based on their vehicle preference, profile, loan eligibility, and ability for repayments. Instant loan approvals are one of the best aspects of being a part of KUWY\u2019s network for your automotive dreams. In addition, lenders get a same-day disbursal, one of the fastest turnaround times in the industry.&nbsp;<\/p>\n\n\n\n<p>In this manner, the platform facilitates the resale &amp; financing of cars, by blending the latest technology into their financial offerings.&nbsp;<\/p>\n\n\n\n<h2><span class=\"ez-toc-section\" id=\"What_were_KUWYs_Key_Challenges\"><\/span>What were KUWY\u2019s Key Challenges?&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>KUWY brought together people who require loans to people who have surplus funds with them and are ready to invest.&nbsp;<\/p>\n\n\n\n<p>While a lender extends a loan, it is important to ensure that the borrower has the capacity to repay it. As a lending &amp; disbursal facilitator, KUWY performed extensive background checks on consumers to check their eligibility criteria. In the same manner, It was necessary to run checks to ensure that the vehicle under question doesn\u2019t pose any red flags.&nbsp;<\/p>\n\n\n\n<p>To decide whether a vehicle is in suitable condition for sale, to ensure it has no pending cases or ownership disputes, KUWY has to run in-depth background verifications. Performing these checks at high-volume and when the company scales was indeed a challenge, but one with an attainable solution.&nbsp;<\/p>\n\n\n\n<p>This is where KUWY joined hands with Decentro!&nbsp;<\/p>\n\n\n\n<h2><span class=\"ez-toc-section\" id=\"How_Decentro_Enabled_KUWY\"><\/span>How Decentro Enabled KUWY&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Decentro\u2019s KYC APIs enabled KUWY to conduct background checks on vehicles using:<\/p>\n\n\n\n<ul><li>Driving License<\/li><li>RC or registration certificate<\/li><\/ul>\n\n\n\n<p>When a user enters the vehicle details in the KUWY app, the <a href=\"https:\/\/decentro.tech\/blog\/what-is-kyc-why-is-it-important\/\" target=\"_blank\" rel=\"noreferrer noopener\">APIs for KYC<\/a> run checks and return the used car&#8217;s complete details. Using this data, the platform gets to know about &#8211;&nbsp;<\/p>\n\n\n\n<ul><li>Owner&#8217;s details &amp; background,&nbsp;<\/li><li>Year of make for the car,&nbsp;<\/li><li>Car&#8217;s history (whether it&#8217;s getting sold for a second or third time), and much more.&nbsp;<\/li><\/ul>\n\n\n\n<p><br>And all this under one roof, and via a single unified endpoint.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" width=\"2134\" height=\"1184\" src=\"https:\/\/decentro.tech\/blog\/wp-content\/uploads\/kuwy-user-identity-checks-decentro-kyc-module.png\" alt=\"KUWY employs Vehicle RC and Driving License for verification using Decentro.\" class=\"wp-image-834\"\/><figcaption>Verifying &amp; Onboarding Users <\/figcaption><\/figure>\n\n\n\n<p>As a result, KUWY saves critical hours that could otherwise be spent in cross-checking &amp; verifying buyers, sellers, and vehicles.&nbsp;<\/p>\n\n\n\n<h2><span class=\"ez-toc-section\" id=\"What_were_the_Key_Wins_for_KUWY\"><\/span>What were the Key Wins for KUWY?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>After integrating with Decentro\u2019s KYC module, KUWY has:&nbsp;&nbsp;<\/p>\n\n\n\n<ul><li>A single endpoint for multiple checks<\/li><li>API response times of a few hundred milliseconds<\/li><li>Automating vehicle background verification &amp; onboarding users in real-time<\/li><li>Load balancing that handles spikes in volume<\/li><li>Multiple network sources to re-route traffic in case one faces downtime&nbsp;<\/li><li>Multi-channel customer support<\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" width=\"976\" height=\"452\" src=\"https:\/\/decentro.tech\/blog\/wp-content\/uploads\/decentro-kyc-api-for-kuwy.png\" alt=\"Decentro's KYC APIs to verify and onboard KUWY users.\" class=\"wp-image-833\"\/><figcaption>Decentro&#8217;s KYC Module<\/figcaption><\/figure>\n\n\n\n<p>Our <a href=\"https:\/\/decentro.tech\/products\/kyc-onboarding\/\" target=\"_blank\" rel=\"noreferrer noopener\">KYC module<\/a> has enabled KUWY to verify a vehicle before admitting it to their extensive network of buyers &amp; lenders.&nbsp;<\/p>\n\n\n\n<p>Like KUWY, we\u2019ve helped our customers, such as <a href=\"https:\/\/decentro.tech\/blog\/strengthening-kyc-process-fampay\/\" target=\"_blank\" rel=\"noreferrer noopener\">FamPay<\/a>, <a href=\"https:\/\/decentro.tech\/blog\/simplifying-collections-payouts-zoozle\/\" target=\"_blank\" rel=\"noreferrer noopener\">Zoozle<\/a>, <a href=\"https:\/\/decentro.tech\/blog\/enabling-instant-account-validation-for-gromo\/\" target=\"_blank\" rel=\"noreferrer noopener\">Gromo<\/a>, to solve their financial integration challenges and launch solutions faster with reduced timelines.&nbsp;<\/p>\n\n\n\n<p>Is your business on the lookout for solving a challenge as KUWY did? We\u2019re all ears.&nbsp;<\/p>\n\n\n\n<p>Not just KYC, you can browse through our other offerings such as <a href=\"https:\/\/decentro.tech\/blog\/what-are-virtual-accounts\/\" target=\"_blank\" rel=\"noreferrer noopener\">virtual accounts<\/a>, <a href=\"https:\/\/decentro.tech\/products\/accounts\/\" target=\"_blank\" rel=\"noreferrer noopener\">business banking<\/a>, <a href=\"https:\/\/decentro.tech\/products\/aml-compliance\/\" target=\"_blank\" rel=\"noreferrer noopener\">AML &amp; compliance<\/a> to get a bird\u2019s view.&nbsp;<\/p>\n\n\n\n<p>We\u2019re a chat away. Feel free to drop us a \u2018Hey\u2019 at hello@decentro.tech.&nbsp;<\/p>\n\n\n\n<p>Cheers!&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>How did KUWY, a digital lending platform for automotive loans, overcome lending &#038; user verification challenges?<\/p>\n","protected":false},"author":4,"featured_media":837,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[70],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v15.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How KUWY Optimized Instant Automotive Loans with Decentro\u2019s APIs<\/title>\n<meta name=\"description\" content=\"A case study on how KUWY, an automotive instant lending company, automated &amp; optimized vehicle background checks with Decentro\u2019s KYC APIs.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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