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Crédit Agricole Consumer Finance

A 100% digital & 100% human credit experience for our customers and partners

As a major historic player in the consumer credit market, Crédit Agricole Consumer Finance offers its customers and partners financing solutions that are flexible, responsible and tailored to their needs.

With operations in 17 European countries, as well as China and Morocco, we leverage our expertise to achieve commercial success and help build up customer loyalty for our banking, retail, car manufacturing and institutional partners.

Customer satisfaction lies at the heart of our strategy. We give our customers the means to make informed choices about their plans and projects. We pay close attention to the financial health of our customers, and we support the most vulnerable through initiatives and campaigns to encourage financial education and prevent excess debt.

We innovate and invest in digital technology to provide our customers and partners with the best possible solutions and we are working with them to build a new credit experience.

 

9 million

customers

€90.9 billion

of managed outstandings at the end of 2020

9,540

employees

€2 billion

in net banking income at the end of 2020

 

What makes us different

Relational excellence, expertise, innovation and financial strength are all key requirements, enabling us to reply to our customer expectations and the business issues of our partners. By offering a 100% digital and 100% human lending experience, we are working to ensure that customers are satisfied at every stage of their relationship with us.

 

We innovate today to offer the solutions of tomorrow

Optimising the online sales process, developing new mobile applications, implementing electronic signatures : we help digitise the experiences our partners offer their customers. Our goal: to offer peace of mind, speed and simplicity to our partners, their customers and ours. To this end, we invested 240 million euros in our information systems and digital technologies during the time of the strategic plan CA CF 2020. In parallel, our partners can count on our dedicated teams to train and support their sales forces.

 

A detailed understanding of our partners' challenges

As a long-time partner of the Crédit Agricole group's local banks, car manufacturers and distributors, specialist retailers and institutional players, our knowledge of their markets allows us to offer them tailor-made solutions that take account of their specific local regulatory and business concerns.

 

  • Banking networks

We put our expertise to good use with Crédit Agricole Group’s retail banks (Regional Banks, LCL, BforBank in France, Crédit Agricole Cariparma in Italy and Crédit du Maroc). We developed a large and multichannel range of finance and insurance solutions around innovative services in order to achieve our ambition: to become a 100% digital, 100% human company by fostering close ties with our partners and customers.

In France, our Conso 2.0 and Conso + distribution approach, launched for the Regional Banks and LCL since 2015, help to drive forward consumer finance among the Group’s retail banks. In Morocco, our Wafasalaf subsidiary deployed a new sales tool that includes functionalities such as 360° vision, CRM or real-time transactions. In Italy, Agos has developed “Agos4Now per Crédit Agricole”, a mobile loan-application specifically for customers of Crédit Agricole Italia, who can now apply for consumer finance via their smartphone, from simulation to completing the application. Those synergies create value and acknowledge our expertise.

 

  • Automotive market

Car financing is a major business for CA Consumer Finance: with managed outstandings of €37.5 billion, accounting for 45% of our total. Our aim is to bolster our position among the top three players in car financing. In order to reach our ambition, our development is based on a two-tier model: independent development with dealers and partnerships with carmakers, taking the form of commercial agreements or joint ventures.

In a fast-changing market, we need to develop an in-depth understanding of the challenges facing our clients and partners. Sales teams using tablets, electronic signatures, paperless managed outstandings processes… Through these digital innovations, our partners benefit from rapid and reliable solutions, making the customer experience increasingly smooth.

Regarding consumer habits, leasing now accounts for 73% of financing for new cars in France. As a result, we are strengthening our lease with option to purchase and long-term solutions in the countries where we operate.

 

  • Specialist retailing

Whether online or at point of sale, consumer finance is a powerful incentive in the purchasing decision. To meet our customer’s expectations, we have launched 100%-digital apps for applying for loans and managing contracts, such as the electronic signature, in France, Italy, Germany and The Netherlands. We have also introduced new ways of interacting with our customers, enabling us to measure their satisfaction in real time. Leasing solutions have been developed with some of our specialist retailing partners.

 

A close attention paid to customer needs

Increasing the satisfaction of our customers means innovating and stepping up our digital transformation in order to enhance their experience: digital loan application processes, database access solutions and customer behaviour analysis, as well as developing new products (extended warranties, insurance, servicing, etc.). It also means making major commitments regarding standards for quality of service, as well as recognising the trust that customers place in us by offering them benefits negotiated with partners or devising solutions with customers, involving them in design and development.

Working with start-ups is an essential part of our digital transformation and innovation policy, and is made up several aspects: generating ideas and innovation projects via internal competition. In 2017, we organized Start&Pulse, an European open-innovation competition, with the aim of devising novel solutions that meet consumer expectations.  

 

CA Consumer Finance and Google: mobile first

CA Consumer Finance is speeding up its digital transformation with Google. In Italy, Agos and Google compare online browsing trends and their correlation with in-store purchases. In France, Sofinco uses optical character recognition (OCR) to improve the credit acceptance process. In Germany, Creditplus Bank is testing Google's "DoubleClick" service which offers behavioural targeting on the internet.

 

Sustainable refinancing

Our self-funding, approaching 84% at the end of 2018, is a guarantee of sustainability for our partners and customers. In 2018, we ranked number two in the European Euro-denominated securitisation market, with 4 deals of a total value of €2.3 billion. CA Consumer Finance offers savings products in Germany, Austria and Spain under the European passport system. By the end of 2018, we had collected over €6.8 billion. FCA Bank has also launched this business activity successfully in Italy.