MotoClick, the electronic signature (e-sig) system provided by MotoNovo Finance, has demonstrably improved lending payout speed for dealers, according to the company.

The FirstRand-owned prime finance provider claimed the first three months of using the system (to August 2013) had received "impressively high" feedback from dealers, surveyed independently, who adopted the technology.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

According to the survey, conducted by Sewells, all dealers questioned preferred the automated system to traditional document faxing for point of sale finance.

Karl Werner, head of sales and marketing at MotoNovo, called the survey results "very positive" from both dealers and customers. "The key for dealers is the confidence to change and to embrace this new technology and thereby gain a competitive advantage."

Quick take-up

As well as removing faxing and reducing paperwork, MotoNovo claims the system raises levels of both acceptance and accuracy while remaining compliant with finance regulation. All being well with an application, a dealership can release a car and the deal is paid out as soon as the customer clicks to sign an agreement electronically.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Speaking to Motor Finance earlier in the year, Werner explained MotoClick was a click signature system, rather than pad signature, with an automated compliance component built in and which could work on a smartphone.

Werner added a third of MotoNovo’s portfolio of dealers had taken up the system in the first 10 days of its pilot, with one dealership reporting it had cleared a finance deal within 42 minutes.

richard.brown@timetric.com