Alphera Financial Services, BMW Group’s independent motor finance division, has launched an online portal for its car finance customers called ‘My Alphera Finance’.

Alphera said its mobile-friendly My Alphera Finance platform is quick and easy to join and gives customers a transparent way to access information about their finance agreement and manage their account.

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Specifically, customers can amend contact details, select a different monthly payment date, make partial early repayments, request a settlement figure and find out what happens at the end of their contract.

Additionally, the platform allows for two-way communication between parties, meaning customers can keep Alphera updated if their needs and circumstances change.

Spencer Halil, director at Alphera Financial Services, said: “The My Alphera Finance platform is another means of bringing transparency to our industry. Through consumer research we know that dealers must combat potential misunderstanding when it comes to car finance and insurance products. It is our hope that this new online portal will go some way to tackling this situation.

“My Alphera Finance empowers customers by making all relevant contract information available at their fingertips, while giving them the ability to change certain criteria to suit their needs and preferences,” Halil added.

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Alphera said more functionality will be added over time as the platform becomes one of Alphera’s key customer contact points in the future.

F&I Scheme

In October 2017, Motor Finance spoke with Halil about how the company was using an accreditation scheme to drive better consumer processes and outcomes.

Alphera has announced that it was partnering with the IMI to launch an accreditation scheme designed to promote best practice and continued professional development.

In August 2018, Aston Martin Financial Services joined the F&I accreditation scheme from BMW’s Alphera, and will see its franchised dealers enroll in a pathway to gain certification.

Aston Martin currently has a funding agreement in place with Alphera, BMW’s independent finance house for other makes.

Alphera launched the scheme in June in partnership with the Institute of the Motor Industry (IMI). The accreditation pathway looks to complement the Specialist Automotive Finance (SAF) programmes from the Finance and Leasing Association (FLA). Accreditation under SAF is a prerequisite to enroll in Alphera’s F&I scheme.