Carro & SY Holdings Forge AI Powered Auto Financing Alliance

Carro, the largest online used car platform in the Asia Pacific, entered a strategic alliance with Hong Kong-listed fintech player SY Holdings through the signing of a Memorandum of Understanding (MoU).

The deal is aimed at bolstering tech-enabled financing solutions and facilitating regional expansion.

The alliance will utilize artificial intelligence, predictive analytics, and API-based integrations to maximize efficiency, accelerate funding cycles, and facilitate scalability while providing governance and compliance.

Aaron Tan, co-founder and CEO of Carro said, "We're looking forward to collaborating with new partners such as SY Holdings that are able to respond fast with us, as we venture into even more markets and new propositions such as brand-new cars. This strategic alliance will allow us access to tailor-made, AI-based financing solutions that will not only synchronise disbursements within our ecosystem in multiple markets but also enhance the financing supply chain process."

Key Highlights:

• Carro, SY Holdings Ink MoU for AI-Driven Auto Financing
• Carro Partners SY Holdings to Boost Asia Expansion
• Carro-SY Holdings Alliance Targets NEV, Fintech Growth

SY Holdings, a technology company with deep AI and supply chain expertise, will also leverage Carro's extensive experience in New Energy Vehicles (NEV) in Asia Pacific.

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Kenny Ng, SY Holdings' Head of International Partnerships stated, “Carro's AI and NEV commitment, as well as its recent opening of its Zeekr dealership, really speaks to us. Our partnership will have us harmonize systems for dealership, procurement, and settlement in the NEV domain, as well as delve into high-end supply chain AI features like anomaly detection, intelligent pricing, real-time synchronization, and automated reconciliation."

With more than a decade of experience in automotive retail, Carro has established an ecosystem that covers aftersales, financing, and insurance, making it the most trusted online automobile marketplace in the region.