This will sell products including hire purchase, personal loans, stock financing, PCP, PCH and value added packages.
“The arrival of BNP Paribas marks one of the most important new entrants into the UK motor finance for some time. This is a huge organisation with massive resources and extensive experience within the new and used vehicle market,” said iVendi chief executive officer James Tew.
“Making our platform available from launch illustrates the scale of ambition of the business, providing cutting edge digital solution and online motor finance technology from the outset. Dealers will be able to help customers identify the right product for them, assess key criteria such as product suitability and see the sale through to conclusion, all while being reassured of a high level of data security and support towards GDPR compliance,” said Tew.
“This is a great opportunity to establish ourselves within the £32bn UK car finance sector and further grow BNP Paribas’ footprint within the automotive market,” said Andrew Brameld, managing director of motor finance at BNP Paribas Personal Finance UK.
BNP Paribas, which acquired Opel and Vauxhall Finance in February, claims to have ‘a wealth of motor finance experience globally,’ and works with some 1,800 dealers in more than 11 countries, and has working relationships with some 16 vehicle makers.
It hopes to double its UK market share by the end 2020.
Read more here.
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