LONDON, 4 JULY 2017 – Partnering with ieDigital, the international provider of innovative financial services technology, MotoNovo Finance has revamped its customer experience with a complete digital, omni-channel, self-service customer solution.
Supporting thousands of customers every week, MotoNovo Finance has offered a wide range of products and services designed to help consumers purchase their next car, van, or motorbike for over 40 years. Aiming to maintain its high standard of service while remaining competitive in an increasingly digital-first market, the organisation began to look at how technology could help it provide customers with quick and convenient access to its financing packages.
“Finance volumes have doubled over the last five years,” said Chris Rowthorn, MotoNovo Finance chief operating officer. “At the same time, past perceptions of dealer finance have changed, as consumer understanding of the wider flexibility, convenience and affordability of dealer finance has improved. A big driver in this change has been motor finance software. Increasingly, consumers are able to access and control their own finance journey.”
Growth was also a factor in the organisation’s decision to invest, as Chris Rowthorn adds: “Our sustained growth has meant a new head office complex, many new recruits and numerous new customers. We want to ensure that as we scale up, we continue to provide the very highest quality of customer experience and a great working environment.”
The perfect partnership
When looking for a technology partner that could help deliver on these business aims, MotoNovo Finance considered everything, from technical expertise and track record, to future-thinking, support and cultural fit. Following these criteria, it soon became clear that ieDigital was the obvious choice.
Looking to ensure its future in the market, MotoNovo Finance worked with ieDigital and Equiniti Pancredit to set up a fully secure self-service portal through which customers could log into their accounts and carry out tasks that previously required them to contact the call center.
Launched in early 2017, the benefits have already become clear, with customers now having the flexibility to manage and access their information any time, and from any device. At the same time, digitising payments has also helped reduce the likelihood of missed payments, and has allowed MotoNovo Finance to make more effective use of its call centre staff, in turn reducing costs.
Additionally, customers benefit from an enhanced digital customer journey as the integration links allow for real-time updates, pulling agreement details up instantly and allowing customers to post immediate payments into their accounts. And it’s all done within an intuitive, easily manageable customer interface. The user interface of the portal was designed to be simple, intuitive, low friction and configurable.
“By harnessing the power of ieDigital’s portal, consumers now receive a best-of-breed servicing from this partnership,” said Rowthorn. “This portal will put us in the best position to grow our customer base, proving that we are the easiest-to-use vehicle finance product on the market.”
“Consumers have long demanded digital innovation in the vehicle finance sector,” said Jerry Mulle, ieDigital sales and marketing director. “Previous research from ieDigital has shown that over half of British consumers would like to manage their vehicle finance online, yet only a quarter of providers have digitised consumer loan originations.
“We are proud to have had the opportunity to work with such a forward-thinking and innovative business as MotoNovo Finance, and the success of the project speaks volumes of both the vision and expertise of this partnership.”
Enjoying recognition across the industry, the project has already claimed the prize for ‘Best Use of Technology’ at the Car Finance Awards 2017.
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ieDigital provides financial service organisations with the ability to transform their digital customer experience. We do this through Interact, our powerful software platform, whose prebuilt components enable our clients to quickly deliver customised solutions to market.
By integrating into any core banking system and fintech ecosystem, we combine the functionality to improve the customer experience, accelerate growth, optimise cost efficiency and manage risk.
We are the chosen partner to four of the UK’s five largest banks, and have deployed Interact in 28 countries. We were recognised as one of the world’s “most significant providers” in the Q3 2017 Forrester Wave for Digital Banking Engagement Platforms, offering “well-defined Digital Banking Software that supports Corporate Banking, Private Banking and excels in Retail Banking”.
ieDigital is privately owned and has more than 100 employees. Its head office can be found on the London riverside, with further offices in Frankfurt, Dubai and Sydney.