Transforming Lending: CARS24 Embraces Cloud with Pennant Technologies

CARS24 has transformed its lending operations by adopting Pennant Technologies' cloud-native pennApps Lending Factory. This transition enables full digital loan servicing, enhances operational agility, and improves customer experiences, positioning CARS24 for scalable growth and innovation in the fast-evolving automotive financing sector.

In a significant leap forward, CARS24 has modernized its lending operations through the implementation of Pennant Technologies' pennApps Lending Factory, a cloud-native platform. This strategic move marks a pivotal moment in CARS24's digital journey, enabling fully digital loan processing with increased agility and superior customer experience.

The transformation addressed critical challenges faced by CARS24 as its lending business expanded. Legacy systems that hampered scalability and automation have been replaced, allowing the company to streamline operations, speed time-to-market, and scale efficiently. A major element of the shift was a comprehensive data migration ensuring continuity and transparent operations.

Through this digital transformation, CARS24 has adopted an end-to-end automated model. The system's cloud architecture delivers robust performance and scalability, enhancing both compliance controls and customer interactions. This innovation positions CARS24 for future success, reinforcing Pennant Technologies' role as a leader in fintech modernization.

(With inputs from agencies.)