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The automotive and mobility industry is undergoing an unprecedented transformation. In this article you will learn in depth which technology solutions are standing out for dealers and SaaS platforms and which are the most pressing business and market trends that will shape the future of automotive and mobility.
News and trends in the automotive industry
The automotive, mobility and transportation industry is in a time of intense transformation driven by digitalization, electrification, regulatory compliance and connectivity. Among the most relevant developments and trends are:
1. Electrification and electric vehicles (EV)
The transition to electric vehicles is one of the pillars of automotive evolution. In Spain, both manufacturers and dealers are adapting to this new reality. Key aspects include:
- Government incentives: Measures such as purchase subsidies, tax exemptions and the expansion of charging infrastructure have favored the adoption of EVs.
- Innovations in batteries: The development of solid-state batteries that promise to double autonomy and significantly reduce charging times.
2. Connectivity, autonomous vehicles and MaaS platforms.
The integration of connectivity technologies is transforming the driving experience and road safety. Aspects to consider:
- Autonomous vehicles: Although still in the testing phase in many brands, advances in algorithms, LiDAR sensors and data fusion promise to reduce traffic accidents by up to 90%, which could save billions of euros annually in Spain. Experts point out that driving automation will facilitate mobility and democratize access to safe transportation services.
- Internet of Things (IoT): Connectivity between vehicles, infrastructure and devices enables smarter traffic management, route optimization and a personalized user experience.
3. Digitalization and transformation of automotive retail
Digitalization is revolutionizing the way vehicles are sold and promoted. Among the new developments are:
- Online purchase process with electronic signature: More and more dealerships are using digital platforms to display inventory, make comparisons and manage vehicle sales. 90% of buyers start their search on the Internet, forcing companies to improve their digital presence.
- Omni-channel experience: The integration of physical and digital channels enables a seamless shopping experience. Dealerships that are committed to digital marketing and CRM strategies are achieving better results in customer acquisition and loyalty.
- Use of data and analytics: Data analysis allows for a better understanding of consumer habits and preferences, optimizing the offer and personalizing service.
4. Renting, sale-purchase and flexible financing
The mobility ecosystem has especially transformed cities with mobility sharing. Beyond that service, remote financing has become a priority for the automotive industry. Trends in this area include:
- Digital Onboarding and KYC: This system makes it possible to offer all types of financing, mitigating the risk of fraud and complying with the regulations, totally remotely and in an easy, secure, fast and convenient way.
- Bank Scraping and Scoring: The optimization of production and legal processes with RegTech contributes to reduce the financial risk assumed by licensees and comply with AML regulations.
These trends complement and enhance each other, shaping a landscape in which innovation, digitalization and sustainability lead the way to a safer and more efficient future in the automotive sector.
RegTech technologies for dealers
Within the digital transformation landscape, RegTech (regulatory technology) technologies have become essential allies for the mobility and transportation sector, especially for concessionaires. These solutions are aimed at facilitating regulatory compliance, optimizing processes and reducing risks.
Electronic signature
The electronic signature is a fundamental tool for speeding up and securing the contracting of vehicles, the management of documentation and the closing of commercial agreements. Its advantages include:
- Speed in the processing of sales and financing: Processes that used to take days can now be completed in minutes thanks to digital signatures, speeding up sales and improving customer satisfaction.
- Security and legality: Electronic signatures comply with current security standards and regulations, offering legal guarantees equivalent to handwritten signatures.
- Integration with other systems: It can be integrated with CRM and ERP platforms, allowing a continuous flow of information that optimizes document management.
2. Identity verification (KYC)
The Know Your Customer (KYC) process is crucial to prevent fraud and ensure transaction security. RegTech based solutions provide:
- Automation of the documentation collection process: Using artificial intelligence algorithms and facial recognition, identity can be verified quickly and accurately.
- Error reduction: By digitizing the process, manual intervention is minimized, reducing the risk of errors and fraud.
- Regulatory compliance RGPD, AEPD, etc: These solutions adapt to local and international regulations, facilitating auditing and control.
In the context of dealerships, the implementation of electronic signature and KYC verification solutions simplifies contract management and customer validation, increasing efficiency and reducing operating costs.
AI-based tools for mobility industry
The mobility sector - which encompasses carsharing, motosharing, mobility platforms and the Mobility as a Service (MaaS) model - also benefits greatly from RegTech technologies. In this area, security, process agility and regulatory compliance are key elements.
Electronic signature applied to mobility
The electronic signature is not only useful for contracting in dealerships, but also applies to the formalization of contracts in shared mobility services. Among the benefits are:
- Instant formalization: Users can sign rental agreements, subscriptions or memberships quickly and without paperwork.
- Transaction security: By having a digital signature, the integrity and authenticity of the agreements is guaranteed, protecting both parties.
- Improved user experience: The speed and ease of the process generates a positive experience, encouraging loyalty.
2. Identity verification (KYC) in mobility
In carsharing, motosharing and MaaS platforms - also for public transport - , it is essential to have robust identity verification processes in place to ensure the security and trust of users. KYC solutions applied in this sector allow:
- Real-time validation: Users are identified instantly using facial recognition and document analysis technologies, speeding up KYC onboarding.
- Fraud prevention: By accurately knowing the identity of customers, the risk of fraud and abuse in the use of services is significantly reduced.
- Adaptation to international regulations: These solutions are configured to comply with data protection regulations and financial regulations in force.
The integration of these technologies in mobility platforms enables not only a more efficient and secure management of registration and contracting processes, but also improves the overall user experience by offering agile and reliable services.
Dealerships and automotive: trending opportunities to watch
For dealers, keeping up with industry trends and developments is critical to surviving and thriving in an increasingly competitive market. Some key points to keep in mind are:
Technology adoption and digitization
- Digital transformation: Investment in digital tools, CRM, e-commerce and data analysis is essential to capture the attention of the modern shopper.
- Omni-channel integration: The union of online and offline channels allows to offer an integrated shopping experience, improving customer satisfaction.
Innovation in customer service
- Personalized service: The use of artificial intelligence to anticipate needs and offer tailored services translates into greater loyalty.
- Improved user experiences: The implementation of apps and digital solutions that facilitate appointment management, vehicle demonstration and after-sales is a clear competitive advantage.
In short, dealers must focus on innovation, digitalization and sustainability to avoid being left behind in a sector that is evolving by leaps and bounds.
Facts and figures to watch regarding electronic signatures for dealers and MaaS
The implementation of electronic signature and KYC verification solutions has enabled dealers and the automotive sector in general to obtain accurate data and figures on registrations and other key market indicators. Highlights include:
Increased operating efficiency
The digitalization of processes by means of electronic signatures has significantly reduced management times. This translates into:
- Faster enrollment processes: Automation and systems integration mean that contract issuance and data validation are completed in minutes, speeding up the sales and after-sales process.
- Incident reduction: By reducing manual intervention, documentation errors are reduced and incident management is optimized.
2. Real-time data for decision making
The electronic signature generates a complete traceability of each transaction, allowing companies to obtain real-time information on:
- Conversion rates and sales closure: Dealers can analyze the performance of their digital sales processes and detect areas for improvement.
- Registration figures: Thanks to the integration of systems, it is possible to have up-to-date data on the evolution of the new and used vehicle market, which helps to forecast trends and adjust commercial strategies.
- Customer feedback: Digitization facilitates the collection of opinions and comments, making it possible to adjust service offerings according to consumer demands and expectations.
3. Impact on the mobility sector
In the field of mobility, the data collected through electronic signature and KYC verification systems allow:
- Route optimization and fleet management: Mobility platforms can use this data to analyze usage patterns, identify areas of high demand and optimize vehicle distribution.
- Measuring efficiency in carsharing and motosharing: With accurate data, performance indicators such as utilization rate, idle times and user satisfaction can be measured.
- Growth projections: Real-time and historical data analysis allows companies to forecast growth in the mobility sector and adjust their investments accordingly.
Ultimately, the integration of e-signature and KYC solutions not only improves the efficiency and security of processes, but also provides a solid foundation of data that helps make strategic decisions to further drive the automotive and mobility sector forward.
