iVendi has finished the company's very first international deal with the Bank Deutsches Kraftfahrzeuggewerbe, a bank focused on cars and who currently provides services to nearly 25% of German car dealers.
iVendi’s technology will provide an online marketplace with motor finance pre-approval open to all 4,500 dealers who use BDK for motor finance.
In a release iVendi said its search function provides results based on vehicle, payment and locality, with results shown on a map for better user visibility.
BDK is one of the leading motor finance providers in Germany and offers a wide product range including dealer financing, retail loan and retail leasing business for new and used cars as well as innovative insurance and warranty products.
James Tew, chief executive at iVendi, 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.”
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