NRI auto industry veteran Vijay Patil joins DCR Technologies to make impact on industrial financing
Indian American veteran in the auto industry Vijay Patil has recently taken over as the Co-Founder and Chief Operating Officer of Southern California-based DCR Technologies.
DCR Technologies is a configurable SaaS origination hub that enables commercial equipment dealers, lenders and buyers to interact on a single digital platform.
Today, American farmers and small business owners who purchase commercial trucks, trailers or farm equipment have a limited number of financing options. Truck makers such as Isuzu, Mitsubishi, and original equipment manufacturers (OEMs) such as Caterpillar and John Deere have invested heavily in product innovation but failed to streamline the financing process.
Vijay Patil, the new co-founder and COO of DCR Technologies (Dealer Credit Resources, Inc.), said, “With annual sales of approximately $1.7 trillion, this is a great opportunity to improve financing arrangements for hard-working farmers and traders. There’s a huge opportunity.”
“Simple things like using a common platform to submit financing applications to multiple lenders simply don’t exist,” the COO of the Southern California-based startup added.
He further added, “Our vision is to provide easy and fast credit to dealers, manufacturers and lenders for the purchase of commercial equipment.” With the technology of DCR, customers can apply for credit from their mobile phones. DCR has democratized the financing process so that applicants can seamlessly take advantage of this digital facility to purchase everything from a small mower worth $5,000 to a semi-truck for up to $250,000. DCR’s Software as a Service (SaaS) platform enables all stakeholders to resolve lending issues with ease.
DCR founder Beckham Thomas along with a team of experts in finance, marketplace solutions, machine learning and artificial intelligence, they digitizing the process to bring efficiency and convenience.
Their teams are dedicated to creating tools that streamline communication between dealers and all other stakeholders.
“Innovation generally moves from one industry to another. Part of daily life in one industry may be a dream for another”, said Patil, co-founder. He was referring to the auto finance industry where the car financing process is already efficient for auto dealers and auto finance companies.
Vijay Patil brings immense expertise to DCR with his 20 years of experience in managing risk, running credit operations and developing business strategies for global brands. Prior to joining DCR, he was a founding member of Yamaha Motor Finance USA. Prior to this he served as Senior Executive Officer at HSBC USA and Mitsubishi Motors Credit of America. Mr. Patil is also known as a Film Producer, Writer and a renowned Social Activist based in California, USA. He leads the non-profit organization SMAP Foundation which is promoting unity and leadership. He has been on the advisory board of other social organizations like FICO Auto Mastermind, HOPE B~LIT, A Voices Unheard Film etc and has also been involved in many global humanitarian efforts.