Tekion and Sunbit partner to offer access to flexible payment options, helping automotive dealers address more of their customers service needs
Through this partnership, dealers can offer consumer pre-qualification financing options directly from Tekion’s ARC
May 24, 2023
Pleasanton, CA, [Month and date], 2023 - Tekion, innovator of Automotive Retail Cloud (ARC), the first and fastest cloud-native automotive retail SaaS platform, today announced a partnership with Sunbit, a next-generation financial technology builder offering point of sale lending options.
Through this partnership, Sunbit's technology offers dealers access to flexible payment options from Tekion ARC, seamlessly, in real-time via Tekion's Automotive Partner Cloud (APC). Service now, pay-over-time payment options are presented to the dealership customer, providing increased access to auto services and repairs. Dealers benefit through decreased service declines increased Customer Pay Repair Orders (CPROs).
"We want everyone in the automotive retail ecosystem to win," says Amit Maheshwari, SVP of Business Development at Tekion. "Our partnership with Sunbit allows dealers to easily provide consumers with access to an alternative payment solution for service expenses. By integrating instant pre-qualification directly within Tekion's online and in-drive service workflows, dealers can alleviate financial stress for the consumer, while driving incremental revenue for their service departments."
“Since entering the auto services space in 2016 we have seen a major shift within the market. Where once we were educating customers on financing technology, today they already know about, and demand, fair and fast financing options. Our new partnership with Tekion gives dealerships access to the industry's most established financing technology, across the entire customer journey, all within Tekion ARC,” said Oded Vakrat, VP, Platform Partnerships, Sunbit.
ARC is the first and fastest cloud-native platform including all functionalities of a DMS and accompanying tech stack to run a seamless retail business. ARC modernizes the end-to-end automotive retail journey, improves consumer experiences and brings the highest efficiencies to retailers by connecting consumers, dealers and OEMs better than ever before through their cutting-edge platform. Sunbit builds financial technology that’s used by thousands of people every day to pay-over-time for expenses. Sunbit technology eases the stress of paying for life’s expenses by giving people more options on how and when to pay. It's designed to approve up to 90% of people who apply with fair, transparent rates and no fees of any kind. The Tekion/Sunbit integration is built directly into the retail ARC DMS workflow, enabling service department efficiency, streamlined payment processes and improved consumer experience. To learn more, visit https://auto.sunbit.com/tekion.
Positively disrupting an industry that has not seen disruption in over 50 years, Tekion has challenged the paradigm with the first and fastest cloud-native automotive platform that includes the revolutionary Automotive Retail Cloud (ARC) for retailers, Automotive Enterprise Cloud (AEC) for manufacturers and other large automotive enterprises and Automotive Partner Cloud (APC) for technology and industry partners. Tekion connects the entire spectrum of the automotive retail ecosystem through one seamless platform. The transformative platform uses cutting-edge technology, big data, machine learning, and AI to seamlessly bring together OEMs, retailers/dealers and consumers. With its highly configurable integration and greater customer engagement capabilities, Tekion is enabling the best automotive retail experiences ever. Founded in the Silicon Valley, Tekion employs over 3000 innovators globally. For more information, visit www.tekion.com.
Sunbit builds financial technology for real life. Our technology eases the stress of paying for life’s expenses by giving people more options on how and when they pay. Sunbit offers a next-generation, no-fee credit card that can be managed through a powerful mobile app, as well as a point-of-sale payment option available at more than 18,000 service locations, including auto dealership service centers, optical practices, dentist offices, veterinary clinics, and specialty healthcare services. Loans are made by Transportation Alliance Bank, Inc., dba TAB Bank, which determines qualifications for and terms of credit. The Sunbit Card is issued by TAB Bank, pursuant to a license from Visa U.S.A. Inc. Use of the card is subject to the cardholder agreement.
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