White Clarke Group has revealed that it assisted BNP Paribas Personal Finance with its motor finance offering that launched in December last year.
First revealed by Motor Finance in October of 2018 BNP Paribas Personal Finance UK has collaborated with teams at White Clarke Group for its digital platform, created with significant investment in its IT platform, system configurations and customer experience.
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The product range includes HP, PCP, PCH and personal loans, as well as bundled “value-added products” such as cosmetic insurance and warranty. The funder will also offer stock financing for dealers.
Speaking to Motor Finance, managing director Andrew Brameld said the lender would tap into other divisions within its parent seek to grow its network and cross-sell products.
Brameld said: “Initially, this venture will be very much dealer-driven. That will be across the large, top-100 dealers all the way through to used-car dealers. And we will also be supporting some key broker strategic alliances.”
Brameld said the business has “key aspirations” for spaces other than independent POS finance, adding: “Even as I sit here, there are opportunities coming our way.”
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By GlobalDataBrendan Gleeson, chief executive officer of White Clarke Group said: “The 10 months’ timeline to implement this end-to-end out-of-the-box solution was set from the start and I am really proud of the partnership between the project teams from White Clarke Group and BNP Paribas Personal Finance which made this successful launch possible.”
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.
Headquartered in Solihull, the consumer finance business aims to double in size by 2020 and as part of its strategy, plans to expand into the motor finance market. This will include the creation of new job opportunities, adding OEM and extending its network.
