Close Brothers Motor Finance has formed a partnership with Zuto, a vehicle finance marketplace, to offer real-time finance approvals and rates.
This collaboration aims to enhance the digital customer journey and access to Close Brothers Motor Finance’s products via Zuto’s platform.
Go deeper with GlobalData
As a result of this partnership, vehicle buyers can instantly see rates and gain approvals for Close Brothers Motor Finance’s offerings.
The integration of the companies’ aims to ensure a fast and seamless experience, with secure data flow, noted Zuto.
It also avoids hard credit searches that could negatively impact consumer credit ratings.
Zuto’s marketplace, which includes 20 lenders, combines advanced technology with expert human assistance, offering support to customers throughout the car buying process.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataCustomers using Zuto’s platform also gain access to its car-buying experts, who assist them in finding the right vehicle and conducting necessary vehicle checks.
Close Brothers Motor Finance director of commercial partners John Cassidy said: “The way people finance their vehicles is changing and, as such, we have been developing our partnerships to continue supporting consumers buying used vehicles.
“Zuto’s tech team has helped us streamline our offering. Working alongside Zuto supports our goal to be where the consumer chooses to finance. Its customer-centric marketplace gives us the opportunity to reach more people looking to buy a used vehicle and provides an extra layer of quality and service.”
Zuto director of lenders Joanne Robinson said: “Close Brothers Motor Finance is an established name in vehicle finance with a forward-looking approach, as evidenced in its decision to partner with us as a fintech.
“Joining our marketplace will not only help the business reach a broader range of consumers but also allow its customers to get quick decisions on finance applications, as well as clarity around approval and available APRs. Helping traditional lenders to digitise their offerings is part of our mission to create a positive automotive ecosystem and provide an excellent customer journey.”
In February, Zuto reported a 35% year-on-year revenue growth, which was driven by continuous investment in platform enhancement and product diversification.
