Kuwy, an automotive fintech startup, announced on Thursday the debut of a platform that connects buyers, sellers, and loans. The Chennai-based company, a subsidiary of Volkswagen Finance, launched KUWY-LaaS, an AI-driven platform with blockchain technology for online auto sales.
In addition to democratizing online auto sales with total transparency, the technology delivers a larger level of information to enable the choice as well as correct decision making for all three parties - seller, buyer, and lender.
"KUWY-LaaS will pave the way for online car retailing in India. The KUWY-LaaS technology breakthrough will not only alleviate all of the current obstacles associated with online auto sales but will also provide deeper insights that will enable the completion of online transactions", Kuwy- Chief Executive Officer (CEO) and Co-Founder B Ganesh Kumar made the observation. He noted that the website allows customers to select credit choices, select a lender, and receive fast approval in a completely paperless journey.
All of this, I feel, makes KUWY-LaaS a much-needed technology that will not only boost the overall ecosystem of the automobile sales segment in India but will also bring the country on pace with technological developments in the worldwide environment, Kumar said.