Paragon Car Finance has agreed a deal with IT provider Frontline Solutions to use their DealTrak system in the future to help dealers access their finance deals.

The deal means that existing users of Frontline’s DealTrak system will be able to gain direct access to Paragon’s existing and future products and in return existing Paragon customers who do not use currently the system will be able to sign up with DealTrak on a cost neutral basis within a month.

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According to Paragon about 85% of motor finance brokers and over 2,000 car dealer sites in the UK use DealTrak to manage their finance applications, with approximately 20% of all finance proposals submitted in the UK going through the system in 2013.

Speaking to Motor Finance about the benefits of the deal, Julian Rance, head of Paragon Car Finance said: "What the Dealtrak system will do is match that customer with a finance company that is more than likely to be able to underwrite that customer. That’s a good customer outcome."

"In terms of where you are with conduct risk around a customer then that kind of ticks a box. Because it makes it very clean and the customer gets what they want very quickly and it’s quite transparent," he continued.

"From Paragon’s perspective what it does is open up numerous possible new contacts for us so we can get to them very easily and quickly and secondly its more efficient than our normal mainstream business.

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"I think it will expand our business quickly and quite considerably."

Martin Hill, joint managing director of Frontline Solutions said: "DealTrak has a proven track record of improving F&I performance and we look forward to working with Paragon to bring the benefits of the DealTrak platform to a wider user base."

Rance also confirmed that Paragon is looking at further deals in the future but was unable to comment further.