Setup of an automotive financial services company in South Korea
AVANTALION supported the setup of a local automotive financial services company for retail and wholesale financing in South Korea for multiple brands of a large German automotive group.
Business Process Management
As part of their growth strategy, the OEM decided to establish a captive finance company in South Korea to support rapid growth taking place particularly in the premium segment.
The local subsidiary’s initial focus was to define retail financing and wholesale financing products.
AVANTALION provided the OEM with the critical project setup support to scope out the roadmap for establishing captive retail and wholesale business lines with special emphasis on the shortest time to market for wholesale finance.
Furthermore, AVANTALION supported the customer throughout the entire project in staffing the venture, in defining end-to-end processes, selecting IT vendors and defining the overarching strategy while taking responsibility for the project management.
The local subsidiary was established on time and within budget and in less than one year.
The newly established company experienced very strong growth after its setup and surpassed the targets of the original business case substantially.
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