FAAREN operates as the first German car subscription platform between car dealerships and end customers. This allows any car dealer to offer their vehicles via subscription on the platform. On the website www.faaren.com, visitors can subscribe to a car at a fixed all-inclusive monthly price. All costs, except fuel, are included in the subscription. Booking is fully digital and completed in less than 3 minutes. Customers can flexibly change their mileage packages or cancel the subscription monthly. The booked car is delivered to the customer within 7 working days.
FAAREN provides the technical infrastructure for car dealers, handles customer acquisition, and offers additional services related to the car subscription. This opens up a completely new and unique online sales channel for car dealerships.
FAAREN wants to ensure the highest possible data quality and security in acquiring new customers for its partners. Therefore, FAAREN was looking for a flexible solution to conduct credit checks for both private and business customers in Germany and Switzerland. This solution should also be scalable to other countries. The requirement was that it could be implemented with minimal IT effort and be easily scalable. The focus was on achieving the highest possible approval rate in the application process and minimizing bad debts.
CRIF’s Risk & Fraud solution checks private and business customers in Germany and Switzerland in real time via a single interface. This allows FAAREN to benefit from the unique data quality of the market leader in the DACH region and to quickly and easily integrate additional countries, data points, and functionalities via the existing interface. Thanks to this modular and flexible structure, the solution can be individually tailored to the business model.
Thanks to CRIF’s solution, FAAREN was able to implement a future-proof international solution for credit checks that also helps minimize fraud risks. Through regular exchanges and professional consulting, KPIs such as approval rate, conversion rate, and collection rate can be met and optimized as needed.
