Fidelity Bank signs MoU with Autochek Africa to complement car loan offering

Fidelity Bank Ghana has signed a memorandum of understanding with Autochek Africa, an automotive technology company, to complement its auto loan program.

According to Divisional Director of Retail Banking, Nana Esi Idun-Arkhurst, her company seeks to form partnerships that will create convenience for customers.

“Indeed, one of our key strategies for employee banking is to provide innovative, personalized and simplified lending solutions to customers to enable them to meet their day-to-day needs and this business fits perfectly into this. strategy,” she said.

“We have already signed partnerships with car dealers who sell new vehicles. Therefore, this partnership creates a wider range of choices for our customers as Autochek provides us with opportunities in the used market and also comes with a well-structured platform that provides easy access to our customers,” said she added.

Autochek country manager Ayodeji Olabisi said the company thoroughly investigates its car dealerships before partnering with them.

“You want to buy a car, someone tells you to come to a place but you get there and they tell you that they moved the car to another place. People get scammed every time, but with us we only deal with registered resellers and verify before they are onboarded to the Autochek platform. In addition, we have verification processes, which is why we organize workshops for our partners. We perform numerous background checks to ensure a vehicle is suitable for financing.

He further explained, “Once you see a vehicle on our platform and apply, we need basic information such as your age, where you live, your Ghana card, utility bills utilities and your bank statement”.

Harold Ansa, acting director of personal banking at Fidelity Bank, said customers who sign up for the plan get promotional rates.

“Fidelity Bank with this partnership with Autochek, we are offering promotional rates to our customers. From now until August, we will make auto loans for customers at our promotional rates when they visit one of our agents. or branches. No stringent requirements to qualify for this. However, you have to fill out a form and download the Autochek app,” he said.

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