Autochek partners with AppZone


Autochek, the automotive technology company facilitating auto financing across Africa, partners with Appzone Group, the continent’s leading FinTech organization, to provide Nigerians with quick and flexible access to car financing. The partnership will see the Autochek platform integrating with Appzone’s proprietary digital core banking service, BankOne, in facilitating access to credit from over 400 Microfinance institutions for Nigerians across the length and breadth of the country.

Autochek partners with AppZone

The credit sourcing process starts with the listing of pre-qualified vehicles from the dealers on Autochek’s platform. Potential customers have  the opportunity to select their choice from a pool of cars that have gone through a 150 point inspection process carried out  by Autochek’s accredited technical experts. The customers are then able to submit their loan applications digitally through the Autochek website to over 400 financial partners currently available on Appzone’s BankOne network. Within 24 hours, customers receive multiple offers and have the option to select their most preferred financial partner. Appzone transitions all accepted loan applications into the BankOne’s proprietary credit administration module which automatically enables the account opening, underwriting and eventual disbursement. The customer is now able to get a transparent step by step update throughout the whole process. 


Speaking at the official signing event, Chief Technology Officer at Autochek, Chetan Seth said: “Like much of Sub-saharan Africa, obtaining access to financing in Nigeria is a tedious process. At Autochek, we are  committed to providing consumers  with seamless access to credit in order for them to own their vehicles. With technology, we are able to provide vehicle financing at scale, and this will be accelerated even further by integrating with Appzone’s network.  We are very much customer-focused and we operate in an on-demand economy, we therefore recognise the need to efficiently provide a plethora of options for customers to access loans from; our partnership with Appzone will enable us to further increase their options through access to the microfinance banks currently available on their platform.”


Mr. Mudiaga Umukoro, the CEO of Appzone Core, a subsidiary company of Appzone Group said: “BankOne is our flagship product and Africa’s foremost Banking-as-a Platform (BaaP) solution. Over the last 10 years we have focused on digitizing the Microfinance sector. We have enabled over 400 Microfinance Institutions spread across the entire country, with the capability for fully digital banking operations  And now through our partnership with Autochek, these Institutions available can now provide quick digital loans to prospective car owners anywhere in Nigeria. What this ensures is a win-win approach as MFBs can target more customers as well as increase revenue through loan offerings, whilst customers across the country, either in urban or remote areas, are more easily  empowered  with business and/or  personal vehicles with little hassle. ”


Africa’s automobile industry is worth $45 billion a year, with only a 5% financing penetration rate. As Autochek partners with Appzone, we expect an upending that figure and ultimately a more empowered customer base.

To find out more about the partnership and to apply for a car loan, please visit: 

(Visited 334 times, 1 visits today)