Zopa Bank has found a new route to the motor finance market as it integrates with iVendi.
The integration will mean faster and easier quoting and application processes for dealers who already work with Zopa Bank, as well as creating access to a wider pool of potential introducers.
Tom Horton, head of sales at Zopa Bank, said: “iVendi’s new platform means we can more easily reach not just our existing dealer customer base but potentially many more motor retailers, which is clearly a positive for our business.
“We recently surveyed car dealers and there were widespread concerns about slow credit decisions, complex onboarding processes and delayed payouts. It’s clear that dealers feel some finance providers just aren’t delivering in these respects.
“However, as a company, we have long worked to provide industry leading solutions in these areas and the adoption of the new platform means we can create further enhancements. It makes applications and submissions easier, as well as helping us to deliver decisioning within seconds.
“We believe that we have a compelling motor finance proposition and iVendi is providing a new route to market that will see it presented to more dealers.”
Soon, Zopa Bank plans to add finance pre-approval to its product range using iVendi’s Finance Navigator, complementing its existing pre-approval offering. This means if an eligible customer provides accurate details in an initial online search, a deal will automatically be offered on the terms quoted.
Tom said: “This is a genuine step forward. It speeds up the process for everyone involved and gives the consumer the comfort of a guaranteed go-ahead, while delivering a transparent and auditable digital history for the dealer and lender.”
