Fidelity Bank Ghana has signed a memorandum of understanding with Autochek Africa, an automotive technology company, to complement its Auto Loan Package.

According to Divisional Director for Retail Banking, Nana Esi Idun-Arkhurst, her outfit seeks to form partnerships that will create convenience for customers.

 “Indeed one of our key strategies for employee banking business, is to provide innovative, customised and simplified lending solutions to customers to enable them to meet their everyday needs and this undertaking fits perfectly into this strategy, “she said.

“We have already signed partnerships with automobile vendors who deal with brand new vehicles. Consequently, this partnership creates a wider range of choices for our customers as Autochek presents us with opportunities in the second-hand market and also comes with a well-structured platform which provides easy access to our customers,” she added.

Country Manager for Autochek, Ayodeji Olabisi emphasised that the company conducts a thorough investigation of their car dealers before partnering with them.

“You want to buy a car, someone tells you to come to a place but you get there and they tell you they’ve moved the car to another place. People are defrauded every time but with us, we deal with only registered dealers and we verify before they are on-boarded on the Autochek platform. Also, we have verification processes hence we hold workshops for our partners. We do a lot of background checks to ensure that a vehicle is fit for financing.

He further explained, "once you see a vehicle on our platform and apply, we require basic information like age, where you live, Ghana card, utility bills and bank statement”.

Acting Director for Personal Banking at Fidelity Bank, Harold Ansa said customers who sign up for the package get to enjoy some promotional rates.

“Fidelity Bank with this partnership with Autochek, we’re offering some promotional rates for our customers. From now till August, we’ll do the auto loans for customers at our promotional rates when they visit any of our agents or branches. No strenuous requirements to qualify for this. Howbeit, you need to fill a form and download the Autochek app,” he said.