Aeris Asset Assurance Platform launched
IoT platform for the auto financing
Aeris Communications has announced the launch of ‘Aeris Asset Assurance Platform’. It is industry’s first comprehensive asset protection and repossession IoT platform for the auto financing and lending companies as well as enterprises using third party fleet services for their logistics and distribution.
The overall commercial vehicle market has seen robust growth over the past two years – 20% in FY 2018 and 18% in FY 2019 – making India the world’s 3rd largest and fastest growing commercial vehicles market, globally. But, the repossession losses for commercial vehicles have been very high. Given the secured nature of lending, asset repossession becomes an important consideration for financers in the automotive sector.
The benefits of the solution:
• Provides a mechanism for proactive credit default detection
• Improves business profitability by reducing repossession & redeployment cost related losses
• Improves customer management and discoverable profile for the portfolio
• Prevent asset from being misused
On the occasion of the Aeris Asset Assurance Platform launch, Dr Rishi Bhatnagar, President, Aeris India said that “It’s no secret that IoT is driving tectonic shifts in the Indian business ecosystem. At Aeris, we have always worked towards expanding the spectrum of IoT adopters. Today, more than 50,000 connected devices from India are managed on Aeris IoT platform. Aeris Asset Assurance Platform has already on-boarded and servicing leading OEMS, auto financing, leasing and insurance companies as our clients in India, Africa & the APAC region. The platform is delivering benefits in complete asset protection and repossession to more than a dozen of our clients, proving our capability to deliver comprehensive and distinct IoT solutions for the BFSI sector”.