Kriben Reddy, founder and CEO of Kredo Mobility, has introduced a new digital solutions service designed to address long-standing challenges in the automotive sector, including fraud, high costs, and declining consumer creditworthiness.
Kredo Mobility, a homegrown digital platform, aims to streamline processes, quickly identify qualified customers, reduce fraud, and provide a unified view of both customers and vehicles. The solution also offers real-time vehicle pricing information, helping stakeholders across the industry operate more efficiently.
South Africa’s automotive industry is under significant pressure due to declining sales, high fixed costs, and challenges faced by consumers, dealers, OEMs, banks, and insurers. While the industry has evolved considerably over the past two decades, many gaps remain, according to Reddy.
Kredo Mobility’s goal is to “reshape” the local automotive sector by making mobility more accessible and affordable for consumers, while enhancing efficiency for dealers and the broader ecosystem. The platform provides a unified data view that can significantly improve dealer decision-making and competitiveness in a rapidly evolving market.
“What we need is a more competitive, transparent, and consumer-friendly automotive market, one that strengthens the entire ecosystem from dealer to consumer,” Reddy said. “We want to help dealers grow, reduce costs, and see consumers benefit from a fairer and more competitive environment.”
He emphasized that dealers often lack access to comprehensive, consolidated insights that merge vehicle and customer information. A more cohesive data landscape would lower verification costs, encourage innovation, and improve operational efficiency.
One key feature of Kredo Mobility is its ability to provide early identification, qualification, and verification of customers at the point of need. This allows dealers to assess potential risks or fraud before moving forward, ensuring a more streamlined and secure process.
As consumer creditworthiness declines, many customers struggle to qualify for traditional vehicle financing. However, Reddy noted that even if a customer doesn’t qualify for financing, they can still be considered for alternative options such as long-term rentals, subscription-based products, or lease agreements.
By consolidating vehicle and customer data into a single, comprehensive view, Kredo Mobility empowers dealers with the tools needed to make more informed decisions and improve operational efficiency. Additionally, as verification costs rise, some dealers have reduced the number of checks they perform, increasing vulnerability to fraud. Kredo’s fraud prevention tools mitigate these risks by identifying potential issues early in the process.
“The fact is, technology is transforming the industry,” Reddy explained. “Our AI-powered insights level the playing field for smaller dealers, giving them the same competitive edge as larger players. This allows all dealers to compete equally, regardless of size or resources, while providing consumers with greater access to the mobility they need.”
