BNP Paribas Personal Finance UK has launched a new motor finance solution with Ivendi.
BNP Paribas, has a wealth of motor finance experience globally, and currently works with 1800 dealers in over 11 countries, as well as partnering across a network of 16 manufacturers. Working with highly experienced specialist teams at iVendi, a new, digital solution has been created with significant investment in new IT platforms, system configurations and the customer experience.
The new solution will offer a wide range of auto financing products including Hire Purchase, Personal Loans, Stock Financing, Personal Contract Purchase, Personal Contract Hire and Value-Added Products.
Andrew Brameld, Managing Director of Motor Finance at BNP Paribas Personal Finance UK said “BNP Paribas is established globally as a significant provider in motor finance and we are now bringing that expertise to the UK market. Through engaging with experienced teams at iVendi, we have pooled our collective capabilities to create a suite of products that will provide our partners with helpful and responsible finance solutions. This is a great opportunity to establish ourselves within the £32bn UK car finance sector and further grow BNP Paribas’ footprint within the automotive market.”
James Tew, CEO at iVendi, said: “The arrival of BNP Paribas marks one of the most important new entrants into the UK motor finance for some time. This is a huge organisation with massive resources and extensive experience within the new and used vehicle market. Dealers will be able to help customers identify the right product for them, assess key criteria such as product suitability and see the sale through to conclusion, all while being reassured of a high level of data security and support towards GDPR compliance.”
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.