Network of more than 400 car dealers nationwide to provide car loans
Most Mogo Romania clients access the loans of the NFI at the recommendation of the car dealers from the country, part of a network of more than 400 auto specialists, who identify their needs, including the one for financing. However, the number of clients who come from the online increased by 30% in the first year of the pandemic, thus Mogo is now concentrating its resources on the digitalization consolidation segment with all it entails.
„Digitalization represents the greatest challenge we took on as Mogo Romania. It is a segment on which over the last years we have made considerable progress, visible in the growth of the efficiency and satisfaction of our clients. We plan to launch a 100% online product, with fast approval, in a platform that our clients may access financing and a varied selection of cars from which they can choose”, states Ionuț Badiu, Country Manager Mogo Romania (photo).
In this sense, the KYC (Know your customer) division is decisive. One of the most developed segments within Mogo Romania, it eliminates a consistent part of the risks assumed by the financial institutions. At the moment, the flux of the company allows digital customer identification based on a selfie, doubled by a phone call during which the client goes through a process that ensures compliance. The NFI’s representatives work for the complete automatization of this process, so it can also provide data security.
The efforts of Mogo Romania are supported by the international group to which it belongs, Eleving Group, which serves over 350.000 clients on 3 continents, from the Baltic Countries, Central, Eastern, and South-Eastern Europe, as well as the Caucasus, Central Asia și Eastern Africa. Selected in 2020, in Top Top 1000 Europe’s Fastest-Growing Companies by Forbes, for its capacity for business scaling at a fast and efficient pace in the countries where it activates, Eleving Group has over 2.600 employees, also supporting Mogo with the execution of the strategies established with its representatives. At the same time, it offers the necessary autonomy for the procedures and products creation, adapted for the local market.
To meet its business objectives, a new Sales Manager, Andrei Constantin, has recently joined the team. Constantin has previously worked for financial institutions such as Bancpost and OTP Advisors, gaining a solid experience in B2B and B2C selling, and in the people and team management field.
„So far, from my experience I understood that my main objective is to help my colleagues, to facilitate a more efficient framework for them. And I have a great appreciation for these people because I have evolved with them. I also learned from them to become a better salesperson and manager. Regarding Mogo, the company goes through a positive change, a transformation of the way of working, and it has a completely new management team. Such aspects weighed heavily in my decision to join the company, because we have the opportunity and responsibility of shaping the strategy and building something new in an agile and growth and performance-oriented environment”, stated Andrei Constantin, Sales Manager Mogo Romania.
The main advantage of Mogo Romania, explains the new Sales Manager, is the transparency of the financing process, facilitated by both the company’s representatives and its partner dealers, which avoids any potential misunderstandings between the customer and NFI.
In Romania, auto financing is seen by the Mogo specialists as having considerable growth potential, particularly because it targets a client segment different from the banks, thus covering a gap in their financing. Mogo offers the possibility of auto loans for non-bankable persons, individuals who have low income or negative credit history.