U.S. Bank partners with AutoGravity to simplify new car financing
MINNEAPOLIS--(BUSINESS WIRE)--Feb. 22, 2018--
U.S. Bank has launched a digital offering on its website that allows
consumers to shop for a new car and get pre-approved for a loan, all
before actually stepping foot in a dealership.
Working with financial technology startup AutoGravity, U.S Bank created a
new platform on USBank.com that provides a simplified, streamlined
loan application process for users that typically takes just minutes to
receive a loan decision.
Car buyers using the new U.S. Bank tool simply:
1) Pick their car and select a dealership online
2) Apply for a pre-approval for a U.S. Bank loan online
3) Close the loan at the dealership and drive off in their new car
“We want our customers – both car buyers and dealerships – to have the
best, most seamless experience possible,” said John Hyatt, executive
vice president, consumer dealer services for U.S. Bank. “This technology
helps us get the buyer in the driver’s seat sooner and brings
pre-approved customers to the dealership.”
Besides saving consumers time, the new technology improves customers’
overall car-buying experience by providing them with pre-approved loan
terms going into the dealership.
“Together, AutoGravity and U.S. Bank have taken the first step on a
journey to revolutionize the digital car-buying experience, empowering
U.S. Bank’s customers to finance their next car in minutes, anytime and
anywhere they want,” said Andy Hinrichs, founder and CEO of AutoGravity.
U.S. Bank’s digital loan platform is currently available via the U.S.
Bank website for those individuals looking to buy a new car through
dealerships served by U.S. Bank. It will expand to the bank’s mobile app
and be available to used car buyers and co-applicants in the coming
months.
About U.S. Bank
U.S. Bancorp, with 73,000 employees and $462
billion in assets as of Dec. 30, 2017, is the parent company of U.S.
Bank, the fifth-largest bank in the United States. The Minneapolis-based
bank blends its branch and ATM network with mobile and online tools that
allow customers to bank how, when and where they prefer. U.S. Bank is
committed to serving its millions of retail, small business, wealth
management, payment, wholesale and securities services customers across
the country and around the world as a trusted financial partner, a
commitment recognized by the Ethisphere Institute naming the bank a 2017
World’s Most Ethical Company. Visit U.S. Bankonline
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media to stay up to date with company news.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180222005140/en/
Source: U.S. Bank
Heather Draper
U.S. Bank external communications
612-528-5409
heather.draper@usbank.com