Lenvi drives motor finance efficiency at MotoNovo
MotoNovo Finance is recognised as one of the best car finance providers in the industry. Every week, the firm helps thousands of individuals to buy a new or used car, van or motorcycle. The firm has a 40 year heritage of leadership and innovation in the financing industry. MotoNovo services both consumer and corporate customers with a range of finance products together with services designed to make the financing experience fast and convenient.
The challenge
When MotoNovo began working with us in 2001 they wanted to install a basic system which would transform their manual processes. Now, thanks to continued innovation and product development, Lenvi hosts nearly 550,000 HP/PCP agreements and have transformed their customer experience.
The solution
MotoNovo initiated a digital transformation project and turned to us to replace their manual loan application and collections system with a digital equivalent. The firm sought to broaden its capacity to process high volumes of loan applications and required a solution that could integrate seamlessly with its back-end systems. The answer came in the form of our complete loan application, administration and collections system, which would enhance the customer experience and was already utilised by some of the UK’s leading lenders.
Upon application of a hire purchase loan, the platform enables a car dealership to automatically verify a customer’s eligibility and match them to the most appropriate finance products to the individual. Within minutes the application process is complete and a decision on the loan application can be made, avoiding a backlog of administrative application processes and dramatically increase the opportunity of a sale in a responsible way.
The results
Lenvi has a strong and trusted relationship with MotoNovo and continually provides innovation in line with today’s customer expectations. Our ability to scale up our services as required, ensures that MotoNovo can continue to provide award winning customer service when the end user needs it most.
Our continued investment in the development of our flexible API systems allows MotoNovo to rapidly integrate with third party digital platforms including credit checking, payments and self-service functionality to enable to the finance provider to stay competitive and grow their business. For customers who need additional support our adaptable platform can help in identifying those who are vulnerable and support payments breaks, and freeze agreements giving customer all important breathing space and keeping in line with regulatory changes.
As part of our continued commitment to MotoNovo we now have a team, dedicated to their service and development. This proactive approach allows us to offer them best in service, with a specialist project manager, development roadmaps, and recommendations on how to get the best out of our offerings, alongside services support and training to upskill their internal. Added to this is a Lenvi team who are experts in the MotoNovo product with excellent working relationships with their counterparts, on hand to help whenever its needed.
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