• ALPHERA named ‘Non-bank Owned Independent Finance Provider of the Year’ at Motor Finance Europe Awards and ‘Car Finance Provider of the Year’ at Credit Awards
• Both awards programmes recognise initiatives to enhance F&I sales practices and success with dealer partners
• ALPHERA partnering with IMI to launch F&I accreditation programme

ALPHERA Financial Services, BMW Group’s multi-award-winning independent motor finance division, has been recognised for its innovative business practices and customer-focused initiatives at two prestigious finance industry events.

In the space of three weeks, the company has been named ‘Non-bank Owned Independent Finance Provider of the Year’ at the Motor Finance Europe Awards 2018, as well as ‘Car Finance Provider of the Year’ at the 2018 Credit Awards.

ALPHERA was recognised for its strong track record of helping business partners grow, and its commitment to educating and incentivising salespeople in a fully compliant way. This approach is best demonstrated in 2018 by the company’s new partnership with the Institute of the Motor Industry (IMI) to support an accreditation scheme for finance and insurance excellence in the motor retail industry.

Commenting on the award wins, Gerry Kouris, marketing manager at ALPHERA Financial Services, said: “We always encourage our partners and others in the industry to challenge us to do better, and these awards show we’re on the right track.

“We established a new accreditation scheme with the IMI to deliver the skills and knowledge needed to confidently qualify customers, as well as to provide a platform for self-regulation to support compliance, introducing shared core values across dealerships. We are thrilled to see that the industry endorses our vision of accreditation.”

When announcing ALPHEA’s win in Berlin, Jonathan Minter, group editor at Motor Finance Europe, said: “One of the strongest categories this year, judges nonetheless felt that ALPHERA really set itself apart with its focus on putting partnerships at the heart of everything it does.

“It has been rewarded with extremely strong growth rates. Instead of resting on its laurels, the company has continued to innovate, including working with institutes to promote dealer accreditation and launching incentive initiatives rewarding good customer outcomes.”

2017 was a milestone year for ALPHERA, as the company funded £1.2bn in car finance for the first time, a 68% increase over 2016. Alphera grew faster than any other independent lender last year, with the independent sector growing at just over 5%, according to FLA data.

While ALPHERA continues to increase its number of dealer partners – up 11% in 2017 – its strategic focus in 2018 remains securing organic, sustainable growth from existing relationships. ALPHERA sees the new F&I Accreditation as an opportunity for dealers to establish consistently high standards and renew customer confidence – ultimately leading to increased income.