BMW Financial Services, a leader in automotive financing, has transformed its financing process by implementing Namirial’s digital solutions, achieving a notable improvement in efficiency and security.
BMW Financial Services is the financial arm of the BMW Group, responsible for providing financing solutions for the purchase of BMW, Mini and motorcycle vehicles. In France, it manages around 50,000 new contracts a year, serving both retail and corporate clients.
In recent years, the market has seen strong growth in online financing applications, creating new challenges around customer identification, document verification and fraud prevention. To address these challenges, BMW Financial Services France turned to Namirial and its KYC (Know Your Customer) solution.
300k
total KYC verifications carried out
100k
applications processed through the platform
300
dealerships in France using the KYC solution
The Challenge: Simplifying Account Opening While Complying With Regulations
With the rise in digital applications, BMW Financial Services needed to ensure secure and efficient customer identification, along with document control and fraud prevention. Manual verification became unsustainable as the volume of procedures grew, causing delays and significant financial risks, with potential losses of millions of euros a year due to fraud.
“In recent years, we’ve seen a strong increase in online financing applications through digital channels. So it was necessary to identify the customer, control their submission, and obviously detect potential fraud risks.”
— Georg Hammerer, Head of Operations, BMW Financial Services France
Industry challenges
The automotive leasing sector faces challenges such as:
- Slow manual processes that affect the customer experience.
- Strict regulatory compliance, with the risk of penalties.
- A high volume of applications, which can lead to human error.
The Solution: Digitalization with Automated KYC and Electronic Signature
To optimize its process, BMW Financial Services chose Namirial as its technology partner. Implementing the KYC solution made it possible to digitalize customer and document verification, improving security and speeding up decision-making.
Thanks to Namirial‘s expertise in digital customer journeys, a comprehensive solution tailored to the automotive sector was achieved.
Solution implemented
To address these challenges, BMW Financial Services adopted Namirial‘s KYC (Know Your Customer) solutions, which offer:
- Automation of the verification process, reducing time and errors.
- Guaranteed regulatory compliance, minimizing legal risks.
- An improved customer experience, by speeding up procedures.
“Until a year ago, identifying customers, checking their documents and fighting fraud was a manual task. But with growing volumes and customers moving to a digital channel, we needed an external partner with the right technological skills to support us. That’s why we chose Namirial.”
— Georg Hammerer, Head of Operations, BMW Financial Services France
The Results: Efficiency, Security and an Improved Experience
After a year of use, Namirial‘s KYC solution has been rolled out across all 300 BMW Financial Services dealerships in France, with over 100,000 applications processed and 300,000 verifications carried out.
Results achieved:
- Reduced application verification times.
- Improved fraud detection and prevention.
- Reliably keeping BMW’s promise of decisions within 24 hours.
- Creation of a trust index to optimize decision-making.
“We’re very satisfied with the implementation and use of Namirial’s KYC solution. On top of that, our dealerships have given us very positive feedback on the efficiency and speed of the solution.”
— Georg Hammerer, Head of Operations, BMW Financial Services France
Digitalization as a Driver of Change in the Automotive Sector
The BMW Financial Services case shows how digitalizing financial processes can improve security and efficiency in the automotive sector. Thanks to Namirial‘s solution, BMW Financial Services has strengthened its ability to handle financing applications quickly and securely, while maintaining its commitment to excellence for customers.
The future of this collaboration points toward the full automation of the financing approval process, as well as the implementation of a 100% digital workflow. In an environment where fraud is becoming increasingly sophisticated, having technology allies like Namirial allows BMW Financial Services to stay one step ahead, ensuring security and trust in its operations.
Disclaimer: this success story was originally produced and published by Signaturit Group. Following the integration of Signaturit into the Namirial Group, it is now hosted on the Namirial website for archival and informational purposes. The results, figures, branding, and product references reflect the customer experience at the time of original publication and may no longer represent current offerings or outcomes.