UK-based digital retail solutions provider iVendi has collaborated with Close Brothers Motor Finance to streamline motor finance for dealers and consumers.
The companies intend to make it easier for dealers to offer consumers motor finance, both online and in the showroom.
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iVendi will deliver key motor finance tools through its Connected Retailing platform.
These tools include a “plug-in” end-to-end, full showroom point-of-sale system and an online motor finance solution for dealer websites.
iVendi CCO Darren Sinclair said: “For a few months, we’ve been talking to Close Brothers Motor Finance about ways we can work together. This pilot, which is one element of a broader series of joint initiatives we’re discussing, is strategically designed to help them increase vehicle and finance sales, and further assist with Consumer Duty compliance among their dealer partners.
“With our Connected Retailing platform, we’re providing our latest technology to allow dealers to construct market-leading motor finance consumer journeys both online and in the showroom, as well as making administration as simple as possible.
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By GlobalData“The intention is that this will lead to further projects in the future, and we are already looking at ways that Close Brothers Motor Finance could make use of groundbreaking new products that we have in development.”
iVendi’s platform is expected to allow a pilot dealers group to improve their operational processes and buyer experience while meeting the Consumer Duty regulations demands.
Close Brothers Motor Finance sales managing director John Cassidy said: “The technology being provided by iVendi is very impressive. It should help to drive a host of benefits among our pilot dealer partners and do so in a highly compliant, consumer-centric way.
“We’re looking forward to seeing the results from the pilot and to examining new ways of working with iVendi in the future.”
Recently, Tandem Motor Finance, part of Tandem Bank, and iVendi teamed up to expand its dealer network.
The move is set to broaden Tandem’s reach to ‘thousands’ of car dealers and enhance the distribution of motor finance products.
