Kroschke Group: The floor check tool "SEPIA" proves to be a complete success

More transparency, more security, but less effort: GEFA BANK GmbH and DAD (Deutsche Auto Dienst GmbH) draw a positive conclusion after a three-year cooperation on digital vehicle inventory (Floorcheck).

The Floorcheck tool “SEPIA” provided by DAD, which GEFA Bank uses in the context of purchase financing for vehicle dealers, is supposed to convince in practical tests and—especially under pandemic conditions—demonstrate its advantages. Brief background: Floorchecking is an important instrument in purchase financing for risk minimization and fraud prevention, which is also required by law from banks. The conventional “Floorcheck” always requires the physical presence of an inspector at the vehicle dealer’s site for object verification. So far, this has been a time-consuming and costly process for both sides. This visit is now omitted with virtual inventory checks using “SEPIA,” which is a benefit not only during times of necessary contact reduction.

“SEPIA” is used in 28 countries across Europe and is exclusively distributed by DAD in Germany. On a control and monitoring platform, individually desired parameters such as inspection intervals, risk classes, or photo functions can be defined. Vehicle dealers, as customers of GEFA Bank, are then automatically informed about upcoming Floorchecks via email and can conduct them independently using the “SEPIA app.” The data generated this way is sent directly to the platform, and a bank employee can, if desired, monitor it in real-time. The further processing of the data is then also carried out according to the bank's specifications.

Even before the pandemic began, GEFA Bank, as one of the first customers in the German market, decided to use “SEPIA” as a virtual system for inventory control of the commercial vehicles and machines it finances. Markus Krug, Credit Manager for Corporate Customers at GEFA Bank, recalls:

“Initially, there was some skepticism about whether a digital tool could actually replace an on-site inspection and meet our and regulatory requirements for a secure Floorcheck. Meanwhile, we are convinced that with DAD as a competent partner by our side, we have taken the right path. The platform reliably delivers and stores exactly the data we need and minimizes fraud risks through plausibility checks.”

Due to these positive experiences, GEFA Bank will continue to use the digital floor check for efficiency reasons even after the pandemic. In addition, the financial service provider is in regular exchange with DAD regarding a possible expansion of the application fields. The establishment of the "SEPIA platform" for GEFA Bank was carried out in close cooperation with DAD. "We were happy to work with GEFA Bank to develop the individual requirements and to support them with advice and assistance during the service implementation phase. Of course, we continue to provide support on all questions concerning SEPIA," said Heiko Labudda, Senior Key Account Manager at DAD. He adds:

"Above all, we provide a high level of security with the multi-stage counter-checks we carry out, so that irregularities are reliably uncovered."

What does this mean?

Vehicle checks can also be well digitized – and in cases of suspicion, controlled with multi-stage counter-checks. This saves the trade and banks a lot of effort and time – and avoids unnecessary contacts during pandemic times.