Startline Motor Finance has revealed plans to “put motor finance data to work” for its dealer network.
The company is launching various online tools under the banner of Insights to enable it to dig deeper into the finance deals and gain greater understanding.
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Paul Burgess, chief executive of Startline, said: “We’ve been examining the issue of how to build closer and more productive relationships with dealers and other introducers. This thinking predates the pandemic but has become even more important since.
“Without wishing to lapse into cliché, we recognise that done properly, the right initiatives can be used to build genuine partnerships by adding value. In this way, we believe that Insights can genuinely help our customers to enable increased levels of business.
“Currently, like most motor finance companies, we don’t really provide the means for dealers and introducers to dig down into the motor finance business that they write with us but the new tools we are currently implementing will change that.
“Overall, what we are trying to do is deliver a range of information that can be accessed online to help with everything from day-to-day management to major strategic decisions.
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By GlobalData“That means providing easy means of visibility over all key aspects of transactions on a daily, weekly and monthly basis but also offering information about customer scorecards, credit bandings and credit quality.”
Burgess said that this data, used correctly, could help users to gain a greater understanding of their car buyers, potentially allowing them to identify new approaches to sales and marketing – something that was crucial during lockdown.
“It’s about putting motor finance data to work for dealers and introducers. If you can identify trends that are developing among your customer base from our information, then there may be ways in which you can change your proposition to meet their needs.
“We believe that motor finance data is much underused in this manner and that, correctly employed, it can deliver genuine innovation and incremental sales.”
Insights was currently in its trial phase ahead of an official launch around the start of Q2 2021.
Last month, Startline registered its busiest single day ever for new proposals, indicating consumer appetite for motor finance remains undeterred by new lockdown restrictions.
