BMW uses Blockchain to improve the user experience of its clients

BMW Group Financial Services announced a partnership with the Blockchain startup Bloom in an effort to simplify the customer journey and to improve the user experience of BMW's clients.

Bloom helps ease the traditional lending process by helping to reduce the risk of exposure to consumer data. Individuals can secure their data on their local device and request a credit without exposing risk data using Bloom's Blockchain-based mobile application.

Anyone can take advantage of Blockchain technology due to Bloom's direct incorporation process. With this move, BMW Financial Services will revolutionize the way individuals apply for financing.

"Bloom is thrilled to be involved in such an innovative initiative," said Anne Ching, Bloom's Partnership Director. "I am excited to be working with the BMW Financial Services team to create a simplified and easy-to-use loan experience to improve the client's journey.

Ian Smith, CEO of BMW Group Financial Services USA, added that BMW is "looking to examine any and all methods of how Blockchain's ledgers could support the transformation of current data storage, payment and tracking of customer information."