iVendi outlines strategies for modernising motor finance operations

Ivendi has released a white paper separating from three traders and financing providers to update car financing operations.

These strategies aim to address the transformation of the industry towards first digital financing experiences and strict compliance requirements.

The white paper highlights the industry turning point, as the traditional financial models and outdated operations are no longer effective.

Buyers are now expecting smooth and secondary experiences first, while compliance requirements have become tougher.

Many agents and lenders still depend on old systems, create friction on the customer’s journey and may lose approvals, customers and revenues.

Ivendi suggests that merchants should give priority to consumers, pay efficiency through technology, and learn about the advantages of compliance.

Traditionally, the engines financing followed a model from a merchant to a defender with limited supplier options.

Modern buyers, however, expect choice, speed and transparency. The companies that offer these features are likely to succeed, according to the provider of auto financing solutions.

By adopting the first consumer approach through a multi -province model, agents and lenders can provide immediate financing comparisons, increase approval rates, improve compliance and transparency, and enhance the total purchase experience.

Meanwhile, digital tools can get rid of bottlenecks, reduce administrative work, enhance consumer trip, and help companies close more deals.

Multi -lenders can simplify the loan application process by eliminating the need to enter manual data, and digital self -service solutions can enable buyers to evaluate financing options independently, enhancing user participation.

In addition, the analyzes based on AI supports lenders and merchants in making more enlightened decisions, reducing operational expenses and enhancing and transferring approval rates.

On compliance, Ivendi said, putting the FCA consumer regulations in compliance with compliance as a commercial discrimination.

Consumers are more likely to choose agents or lenders to prioritize transparency, fairness and clear communication.

The main compliance strategies include the inclusion of clear and intended financing content for the lender in the buyer’s trip, using the actual time examination of enlightened decisions, and implementing the saving digital records to ensure FCA compliance.

In December 2024, Ivendi and Close Brothers Motor finance cooperated to simplify engines financing for merchants and customers.

“Ivorian defines strategies to update motor financing operations” originally and published by Motor Finance Online, a brand owned by Globaldata.