Autocorp Pushes Industry Towards Credit First with New Product, askAVA

·3 min read

Autocorp is disrupting the automotive industry with a fresh take on how customers buy and interact with dealerships. askAVA's ‘credit first' approach is the first product in Canada that allows consumers and dealerships access to credit information without impacting scores.

OTTAWA, ON / ACCESSWIRE / January 13, 2021 / Autocorp, a Canadian fintech company, announced today that they have created a new product that brings soft-pull technology to the automotive industry. Their new product askAVA will empower consumers with the ability to access their credit profile and share that information with dealers to improve their shopping experience.

No impact - The number one concern consumers have when accessing credit information is whether the inquiry will hurt their credit score. With askAVA, consumers have access to a real-time, no-impact solution to help with their car-buying journey.

"With so much progress happening around digital retail in automotive, a major missing piece for both consumers and dealerships in Canada has been the ability to easily access credit information without impacting the score," said Andrew Lemoine, Autocorp's CEO. "Our new product, askAVA, is a significant milestone not only for our company but for the Canadian automotive industry."

Development - askAVA is the product of three years of research and development and is led by a team of executives that come from the automotive industry. Autocorp's executives saw firsthand the challenges that both consumers and dealers faced and set out to fix those problems.

Simplicity - When most people think about a credit check, they think about a complicated system that can only be done by trained professionals. askAVA was designed with simplicity at its core. With askAVA's technology, consumers can find out their credit score by completing a simple online form. It has also been built with privacy and safety in mind, and is fully compliant with the Personal Information Protection and Electronic Documents Act (PIPEDA).

Currently, dealerships across Canada use a "credit last" approach. This means that a customer only finds out if they are approved or rejected for their auto loan after they have completed their purchase. This often leads to a disappointing experience for both consumers and dealerships. When dealers take a "credit first" approach it allows them to set the process up for success from the onset.

Autocorp is reinventing how car buying takes place by putting consumers at the center of the experience. A "credit first" approach empowers customers to make educated buying choices.

About Autocorp:

Autocorp is a fintech company specializing in solutions for the automotive industry. We combine our expertise with world-leading technologies to bring consumers and dealerships a suite of digital retailing products primarily focused on credit and financial services. We have a proven track record of supporting customers and dealerships, designing solutions that scale, and building innovative products that address the needs of the industry. As experts in the automotive technology space, we deliver innovative solutions that support customers during the buying process, increase efficiency for dealerships, and create incredible experiences for both parties. Everything we do is focused on creating the best possible buying experience so that dealerships can scale and consumers get the most enjoyment from their purchase.

Media Contacts:

David Fodrek

SOURCE: Autocorp

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