BNP Paribas Personal Finance UK has collaborated with iVendi to shape and build a new motor finance solution to provide an alternative offer to the motor finance market.
Working with specialist teams at iVendi, the new digital solution has been created with significant investment in new IT platforms, system configurations and the customer experience.
It will offer a range of auto financing products including Hire Purchase, Personal Loans, Stock Financing, Personal Contract Purchase, Personal Contract Hire and Value-Added Products.
Andrew Brameld, Managing Director of Motor Finance at BNP Paribas Personal Finance, said: “We have pooled our collective capabilities to create a suite of products that will provide our partners with helpful and responsible finance solutions.
“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.”
James Tew, iVendi Chief Executive, added: “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.”
The launch of the UK motor finance solution follows BNP Paribas’ acquisition of Opel Vauxhall Finance (OVF) and its announcement in February 2018 of a strategic plan to support the growth of OVF competitive automotive finance solutions across Europe.