Internal FinTech Application for Car Purchase Financing

Frontend

Backend

Team Size

5

AAA Auto is an international used-car dealer under AURES Holding, offering the largest selection of used luxury cars in Central Europe. Currently, it operates 22 branches across the Czech Republic.

In addition to its presence in the Czech market, AAA Auto also serves customers in Slovakia, Poland, Hungary, and Germany. As part of its services, the company provides vehicle financing and insurance in collaboration with the top financial institutions in the Czech Republic.

About the Project

The client requested the development of a tool that would allow car dealers to quickly and effectively secure customized financing and insurance offers for vehicles. The project involved multiple development phases, throughout which there was a systematic integration of the client’s application with the systems of both banking and non-banking institutions that provide vehicle financing and insurance products.

Challenge

The initial process of selecting a leasing company was complex and time-consuming. Dealers were required to log into various leasing providers’ applications, enter basic information, and then export the offers to MS Excel for presentation to potential car buyers. Subsequent steps involved additional interactions either within these applications or at the leasing companies’ branches, further extending the timeline.

The client aimed to streamline the selection of both leasing and vehicle insurance into one comprehensive application (the F&I application). This platform would also enable dealers to offer additional services (non-financial products) and customize the final package to meet the specific needs of individual customers. Ultimately, financing and insurance arrangements would be processed via the F&I application directly at AAA Auto dealerships, eliminating the need for third-party applications.

Our team faced the challenge of integrating the application with the diverse API interfaces of the financial institutions. Moreover, it was crucial to simplify the leasing application forms to prevent redundant data entry. Ongoing legislative changes and regional differences in the Czech Republic, Poland, and Slovakia presented additional complexities.

HOW WE PROCEEDED:

Discovery Phase

From the outset of the project, it was essential to consider the future scalability of the application—not only in the Czech Republic but also for planned deployments at branches in Slovakia and Poland. The outcome of the discovery phase was the design of the application architecture and interface, along with the selection of the technology stack.

After thorough analysis, we and the client agreed to divide the development of the F&I application into three phases.

 

Phase #1: Offer Calculations

The goal was to create a prototype that would consolidate price quotes from various providers, allowing for real-time comparison. This phase focused on preparing the application for the Czech market with the potential to scale to Slovakia and Poland.

 

Phase #2: Leasing and Insurance Comparators

The application was expanded to include the capability to fill out necessary data for individual leasing providers’ applications. It now features a comparator for leasing offers and insurance products, along with tools for up-selling and cross-selling client’s non-financial products.

 

Phase #3: Financing within the F&I Application

Preparations are underway to expand the application to the Slovak and Polish markets. The finalization of the application involves the complete integration of the financing process within the F&I application, including the submission and approval of leasing, and the generation of necessary documents, contracts, and addenda, all without the need to log into an external financial institution’s application.

ACHIEVEMENTS

We brought the client’s vision to life with a native application that enables dealers to complete the car sales process directly at the dealership, even when customers choose to finance their purchase through leasing.
The F&I application streamlines the comparison of leasing and insurance offers, allows the preparation and submission of leasing approval requests to financial institutions, and significantly speeds up the entire process. Additionally, it is designed for future scalability and full integration of all steps involved in securing financing.

KEY BENEFITS FOR THE CLIENT:

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