Kuwait Türk's Digital Tool Financing Reaches 3.5 Billion TL in Funding Volume
Foreks - Kuveyt Türk, standing out with its innovative products and services, continues to attract considerable interest in its Digital Vehicle Financing, which was launched in 2022, marking a first in Turkey. Within two years, a total of 13,800 vehicle financings have been conducted through Digital Vehicle Financing, reaching a financing volume exceeding 3.5 billion TL.
As Turkey's leading participation finance institution, Kuveyt Türk offered "Digital Vehicle Financing," launched in September 2022, providing a fully digital financing service through the Kuveyt Türk Mobile app for both new and second-hand vehicles, available 24/7. Customers can apply for financing anytime and anywhere, tracking and completing all processes via mobile. They experience the privilege of advantageous financing with special profit rates and product discounts exclusive to Digital Vehicle Financing.
As Kuveyt Türk's Digital Vehicle Financing reaches its second year, it continues to draw significant interest from customers. Starting in 2024, customers will be able to benefit from digital vehicle financing not only for new and second-hand cars but also for light commercial vehicles and motorcycles.
In two years, Kuveyt Türk has accomplished a total of 13,800 vehicle financings digitally, achieving a financing volume exceeding 3.5 billion TL. As of 2024, 56% of vehicle financings utilized at Kuveyt Türk were conducted through digital channels, highlighting Kuveyt Türk’s success in digitalization.
"The rate of vehicle financing provided through digital channels has reached 56%," said Mehmet Oral, Deputy General Manager in charge of Individual and Private Banking at Kuveyt Türk. “With our digitalization strategy, we prioritize customer satisfaction and lead innovations in the sector. With Digital Vehicle Financing, which we initiated as a first in 2022, we provided speed and practicality in financing processes for both new and second-hand vehicles. Starting in 2024, we expanded the scope of financing to include light commercial vehicles and motorcycles. Throughout the past two years, our product has received strong interest from our customers. Achieving a 56% share of vehicle financings through digital channels has been a significant success. This reflects our customers' inclination toward digital solutions and their desire for practical access to financing. We plan to continue developing and improving products that meet our customers' needs in the future.”
Application Process for Kuveyt Türk Digital Vehicle Financing Customers wishing to use Digital Vehicle Financing can apply for financing through Kuveyt Türk Mobile 24/7. This service ranks among the leaders in the sector in terms of profit rate advantages, allowing customers to complete all processes easily and practically through Kuveyt Türk Mobile. During transactions, customers can receive support from the digital assistant Selim and connect to a financing assistant via voice call whenever needed. Transactions can be completed within the same day, enabling customers to acquire their new vehicles quickly and practically without visiting a physical branch. Those who are not Kuveyt Türk customers can also apply through video call on Kuveyt Türk Mobile in a short time to become customers.