The Key Management – Auto Dealer Financing:
Controls, checks and plugging financial fraud

fake companies

You are a bank or any other lending institution and you are lending to automobile dealers towards vehicle financing.

It is then essential to ensure that the key management is implemented. At Matrix, we help financial institutions carry out that function.

This activity is carried out at the dealer premises who have been defaulting or delaying on payments to the lending company.

Matrix deploys audit executives at the dealer points and takes up the custodianship of the keys of the yet-to-be-sold vehicles that are at the dealer points. Each time a vehicle gets sold, the keys of the car gets released to the dealer only with the approval of the lender. The report on the keys and the vehicles are constantly sent to the customer. Considering the criticality of this function, the data pertaining to the custodian’s entry time, exit time, keys on hand, stock of vehicle, vehicles sold during the day and all other relevant details are captured through our ‘Audit Pro App’.

Thereby the entire reporting process is digitized and the required governance and transparency is brought in as well.

Among the key custodians deployed at the dealer points, there are supervisors who spend the managerial time remotely, monitoring the events at each of these locations to identify and report any exception. The audit executives deployed at dealer points are trained and nurtured to face the pressure and even harassment from the dealers with professional ethics and process. Whether you are lending to a dealer for cars, two wheelers or commercial vehicles, you cannot ignore the ‘key' aspects of effective control and prevention of fraud. Talk to us, we have a pan India presence and we are here to serve you through digital means.

We can be reached at

info@matrixbsindia.com and you may even reach out to G Mukund, Sr Vice President at 9849070784.

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