AI-powered end-of-contract vehicle inspection solution | Distribution

Toyota Financial Services France relies on Monk AI technology (Monk specializes in artificial intelligence).inspection of vehicles at the end of the rental agreement.

Toyota Financial Services Care, a vehicle periodic inspection solution used by Toyota and Lexus network dealers

During the solution after the pilot phase Body injury detection with artificial intelligence Tested and calibrated by dealers in the Toyota and Lexus network, the service will be offered to individual customers at the end of the lease agreement.

Thanks to this body damage technology, this is possible detect car damage just by taking a few pictures with your smartphone.

Uses Monk’s solution computer vision analyze the images and create a comprehensive body condition report showing the location, type, extent and repair costs of any damage using Toyota Financial Services pricing matrices.

A full vehicle inspection report initiated by either the dealer or the customer is sent to the dealer at the same time and only before contacting the customer again to customize and approve any repair cost estimates.

Customers will be encouraged to use the Toyota Financial Services Maintenance solution as part of their vehicle return.

Six months before the end of the leasing contract, customers will be able to check their cars themselves and simply using a web application based on Monk AI technology.

The dealer who contacts the customer will be alerted to explain the offer and possible options prior to the return at the end of the vehicle finance agreement.

“This new service will allow our customers to better understand and anticipate any repair costs associated with returning their vehicle, while increasing their confidence and satisfaction with dealers.” says Aliette de Varenne, deputy director of customer experience at Toyota Financial Services. And keep going “It was important to offer our dealers a simple tool that is integrated into our digital ecosystem, yet completely in their hands, that helps streamline the end-of-contract customer journey by integrating with revenue processing. More than ever, sales teams play a key role in leveraging the solution to offer their customers a superior quality experience and position themselves as a single point of contact for ongoing relationships. »

Mr. Aboubakr Laraki, CEO of Monk, adds “The program, developed in accordance with the needs and expectations of customers and distributors, is the result of close and high-quality cooperation with TFS (Toyota Financial Services) teams. After being introduced to the brand’s dealers, we are pleased to offer the first return solution to Toyota’s captive customers in France. »

Monk and Toyota Financial Services France are working to expand their partnership to other services, particularly remote vehicle trading with personalized buy-back offers for used cars.

“This expansion of the TFS Care solution with Monk technology to other customer journeys will undoubtedly allow more contexts to benefit from its benefits in terms of efficiency and transparency” Arnaud Martinet, COO of TFS defines and to conclude “This innovative solution will enable TFS to improve its performance in terms of customer satisfaction and loyalty, while simplifying the day-to-day life of sales teams and growing the aftermarket and used car business at the dealership.”

Monk AI is a French company computer vision It was founded in Paris in 2019.

The company is mainly made up of artificial intelligence researchers who are working to implement visual vehicle inspection in artificial intelligence. The company joined US benchmark player ACV Auctions in 2022. Monk has also partnered with various automotive players such as HGreg, Fastback, Getaround, Autobiz and Ship.Cars.

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