IVendi just recently signed the company's "first major international deal" with an automotive bank that currently has around one in four auto dealers in Germany as slients.
IVendi's suite of technology products will give an entire online marketplace experience including financial pre-approval to over 4,500 dealers using Société Générale subsidiary, Bank Deutsches Kraftfahrzeuggewerbe GmbH (BDK), for car finance.
This will include a brand new search feature that gives results based on the car, payment, and location. All of the results will appear on a map giving consumers a better understanding of how close the cars they want are.
BDK provides dealers with retail loans, financing, insurance, warranties, and retail leasing options for both new and used vehicles.
Vendi’s chief executive, James Tew, said: “This marks a major step forward for iVendi. While we have worked with some customers on overseas projects in the past, this is our first major international deal with a significant motor finance provider."
“Talking to BDK about this project has been a genuinely exhilarating process. As a business, we have been through the kind of changes you would expect – modifying our products to deal with the needs of a new market – but we have also been stretched and inspired by the customer to deliver a much-enhanced solution."
“It will, we believe, make a major impact on the German dealer motor finance sector. We are looking forward to seeing the results it produces in real word conditions."
BDK’s chief executive, Dr Hermann Frohnhaus, said: “We are very excited to be working on this project with iVendi and were attracted to forming a partnership with them based on their passion, knowledge and insight.
"Our new online market place will provide car dealers a highly attractive sales channel focused on their specific needs, while at the same time standing out with an exceptional user experience for car buyers. ”
This new dealer platform will be provided to all of BDK's dealers later this year and Tew stated that iVendi is hoping to use this deal to push further into the marketplaces through all of Europe.
“BDK have massive credibility and are widely respected in the European motor finance sector, so to be working with them in this way can only open doors for us,” said Tew.
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