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New iVendi product aimed at largest motor retail businesses

Connect’s APIs offers full finance quoting, applications and proposals, including form validation and Consumer Duty-friendly finance product integrations that can be served up in any external system – whether a website or back-office showroom system.
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Darren Sinclair

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September 12, 2023

MAJOR motor retail businesses including banks, motor finance providers, media companies and large dealer groups are the target of a new product launched this week by iVendi.

Connect is a comprehensive suite of application programming interfaces (APIs) that enables these firms to integrate motor retail technology quickly and effectively into their established systems.

Darren Sinclair, Chief Operating Officer at iVendi, said: “Enterprise level businesses of this type require a flexible and customisable solution that aligns perfectly with their existing infrastructure, and that is exactly what we can now deliver.

“Connect’s APIs offers full finance quoting, applications and proposals, including form validation and Consumer Duty-friendly finance product integrations that can be served up in any external system – whether a website or back-office showroom system.

“It does this in a manner that complements the front-end user experience that the brand has carefully developed over time to maintain and reflect their unique identity.”

iVendi’s advanced finance tools for customers, made available through the APIs, also include lender product content, monthly payment calculations and finance eligibility checks – providing the information to make informed decisions quickly and easily.

Businesses can provide options including the ability to deliver real-time application status updates, submit both individual and corporate finance applications, and offer payment search to show monthly prices on vehicle search results.

The product also incorporates iVendi’s comprehensive Consumer Duty process which covers all points from initial finance quote through to final application submission, with data including lender product content, lender product understanding questions, lender privacy policies and finance product understanding questions.

A further key API is a universal quoting tool, launched earlier this year, which aims to provide a simplified and consistent customer process delivered on an international basis for businesses such as motor manufacturers and pan-European lenders.

Sinclair said: “Whether businesses are looking to provide real-time finance quotes or streamline the loan application process, the technology we are providing through Connect empowers them to enhance their offering with cutting edge technology that is proven to drive conversion and consumer satisfaction rates.

“Their customers will have a clear understanding of their financial commitments, enabling them to make choices that align perfectly with their budget and preferences. It’s all about giving them the tools they need to make informed decisions effortlessly.

“The universal quoting tool is a good example of this approach, providing finance quoting across any number of territories for businesses that operate internationally.”

iVendi already works with a wide range of enterprise level clients and Connect has been designed to be adopted quickly and easily by businesses of this scale.

“Over the last decade, we have gained a huge amount of experience in working with everyone from multi-national banks to market-leading media companies. The new API suite incorporates all of that knowledge and crucially, can be implemented much more quickly than previously.

“Instead of creating specialist interfaces for each new client, something that requires time and resources, Connect allows us to work much more quickly but equally effectively. We can now put solutions in place in just a few months, even for the very largest companies operating on an international basis.”

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Chris Wright

Chris Wright

Chris Wright has been covering the automotive industry nationally and internationally for 30 years. Following spells with consumer titles he became News Editor of Automotive Management (AM), Editor of Automotive International, International Editor for Detroit-based Automotive News, and Editor of Dealer Update. He has also co-authored several FT Management Reports and contributes regularly to Justauto.com

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