V12 Vehicle Finance, the motor finance arm of Secure Trust Bank, has gone live with White Clarke Group’s CALMS wholesale finance platform.
The new platform will provide V12 with a greater speed to market, and is intended to improve functional and technical requirements to facilitate each element of the dealer stock funding journey.
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The entire wholesale lifecycle process will be automated, providing the bank with the ability to fund through various channels, such as auctions and forecourt purchases. This enables dealers to manage their contracts through the CALMS dealer portal, and offers configuration of finance products plus integration with in-house and external systems.
“We are especially pleased with the success of this implementation. V12 Vehicle Finance has established a unique digital buying and funding journey for dealers and White Clarke Group’s platform supports the future growth of our business,” said David Mercer, managing director at Secure Trust Bank.
Peter Dyson, group chief operating officer at White Clarke Group, said: “A collaborative approach and transparency from the start led to the smooth delivery of this project. This is yet another great endorsement of our CALMS Wholesale Finance platform, which continues to get positive attention from businesses needing cost-effective, swift responses to increasingly dynamic customer requirements.
“We are also now in the process of implementing our CALMS Retail Finance software for V12 Vehicle Finance, which is scheduled to go live in Q1 2020.”
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By GlobalDataSecure Trust Bank launched V12 in June this year, designed to help dealers source and fund vehicles through various physical and digital auction channels.
V12 will provide a range of finance products to both prime and near-prime customers, with both hire purchase and personal contract purchase options available. The application process can be completed online, with customers signing e-documentation.
Mercer said: “We are focused on building a unique proposition for used car and van dealers that has never been seen before in the UK market. Secure Trust Bank has built a strong heritage in the vehicle finance sector with Moneyway and is keen to invest in new products to further grow the business.”
