Santander Consumer Finance has launched a white-label technology platform for the development of vehicle subscription-based solutions within the European mobility service sector.
Dubbed Ulity, the new offering being rolled out across Spain seeks to enable business groups and firms to accelerate and simplify their foray into vehicle subscription services.
It is aimed at automotive brands, car rental, private transport companies, leasing, and auto marketplaces, among others.
Ulity builds on the ‘success’ of Wabi, a monthly car subscription service offered by Santander Consumer Finance.
Wabi, which runs on the same SaaS technology, was launched in Spain in July 2020 and currently caters to over 9,000 users in 30 provinces.
The service is available in Norway and Germany and Santander Consumer Finance plans to launch it in Italy, France, and Switzerland later this year.
Santander Consumer Finance noted that Ulity is positioning it as a strategic technology partner for clients looking to develop vehicle subscription-based solutions.
Ulity is said to allow clients to integrate its software with their own system and offer assistance via a team of advisers, who have experience of working with leasing companies, financial institutions subscription services and automotive companies.
The new offering, which is designed to promote more eco-friendly business models, will offer bespoke solutions based on clients’ business, size and targets.
“Its software can customise subscription-based solutions; reduce the cost of setting up car fleets for companies and professionals; diversify the fleets they already have and extend their useful life, and adapt management to fluctuating demand,” Santander Consumer Finance noted.