Blue Motor Finance is a fintech company that offers loans through dealers. It has recently been listed on the Financial Times’ FT1000 Europe’s Fastest Growing Companies list. It has developed artificial intelligence (AI) to match customers with the best deal. This allows consumers to choose the car that meets their needs and budget. This service has won numerous awards, including FT1000 Europe’s Fastest Growing Company. To find out more about this company, read on.
Blue Motor Finance is a fintech company
Credit Kudos is a credit reference agency and Open Banking provider that combines data from Open Banking and negative credit outcome data to provide more detailed information about an individual’s financial health. Using this data, Blue Motor Finance can better assess the creditworthiness of their applicants. This partnership also helps Blue’s customers through a faster application process by allowing them to share bank statement information directly with the company.
Banked, a digital payment provider, recently teamed up with Blue Motor Finance to offer its customers a new way to pay using their online banking app. Through this partnership, customers can pay their credit card bills and hire purchase transactions directly from their banking apps. Customers simply select their bank from the app and the funds are transferred instantly to Blue Motor Finance’s account. With a track record of success with private equity transactions, the management team at Blue has the expertise to deliver a successful fintech solution to its customers.
Another way in which Blue Motor Finance is using technology to improve the customer experience is through their partnership with Lloyds Bank Commercial Banking API Lab. They are developing a system that will allow them to process loan payments in real time. Once the deal is approved, the money will be transferred to the customer’s bank account within minutes. This partnership will allow consumers to enjoy their vehicle without any hassles. Blue is currently the number one fintech provider in the UK.
Blue Motor Finance is a UK-based fintech company offering car loans. Founded in 2005, Blue Motor Finance is a fintech company that claims to disrupt the traditional auto finance industry by utilizing technology and risk management. However, some customers have reported being mis-sold car finance products. It is important to check all the information carefully to ensure that you get the best deal. But beware of fake reviews as some consumers are not aware of the bad reputation of Blue Motor Finance.
It offers loans to consumers through dealers
Blue Motor Finance is an award-winning consumer lender offering car loans through dealerships. The company has achieved impressive growth in recent years, gaining a spot in the Financial Times’ list of fastest-growing companies in Europe for three years and topping the list in 2019. In the last year, it has lent more than PS2bn to more than 200,000 customers, and has won numerous awards. Blue has earned a reputation for its flexible and fast decisions, but some customers have been mis-sold car finance products.
While car dealers should offer competitive finance packages, consumers should be aware of the financial risks that they face when taking out a loan. This means that a car finance provider should assess customer’s finances in proportion to their affordability and credit history, rather than attempting to over-complicate matters. Blue Motor Finance does not need to scrutinise the financial status of every consumer, but does do proportionate checks on all customers. However, if a customer has poor credit or a low income, then a more detailed check would be required.
While the interest rates charged by dealerships are generally low, they still tend to be higher than the average for consumer loans. This is due to the fact that these dealers will often be profiting from providing finance. In addition, dealer finance may only be available for a select number of cars. A dealer may also require a higher down payment, a shorter contract, and a high credit score. This may not be the best option if you have bad credit and don’t want to be a burden to your credit rating.
It has been ranked 1st in the Financial Times’ FT1000 Europe’s Fastest Growing Companies
The company has grown from a start-up to a major player in the UK motor finance market and has written more than PS600 million in business over the past three years. Today, the company employs 165 people and works with more than 3,700 motor retailers. The Financial Times FT1000 list ranks the fastest growing companies in Europe and highlights the impact of disruptive technology.
Founded in 2005, Blue Motor Finance has become one of the leading consumer car finance lenders in the UK, lending over PS1 billion to over 120,000 customers. The company’s impressive growth has seen it be named 1st in the Financial Times’ FT1000 Europe’s Fastest Growing Companies list and ranked 2nd in a sector that includes Fintech and financial services businesses.
The FT1000 list is an annual compilation of the FT 1000 Europe’s Fastest Growing Companies. It ranks companies that are generating revenue at least 384% per year. To be included in the list, a company needs to have grown at least 37.7% over the previous year. To keep track of the company’s progress, FT1000 subscribers can subscribe to its RSS feed.
It uses AI
Using artificial intelligence (AI) to manage payments has made the process of applying for an auto loan much more efficient. In the past, the process required borrowers to provide credit details to a service, which would then pull their credit score and verify their income. Now, providers such as Blue Motor Finance, Freedom Finance and Zopa can access banking information from their clients and decide whether or not they are creditworthy based on AI algorithms.
The company launched a tailored stock lending product to support SME motor dealers. This product provides a flexible and straightforward route to stock finance, allowing dealers to invest in new stock. The product uses advanced AI technology to help users use the product to the maximum and secure stock finance terms that match their requirements. Blue Motor Finance says that the use of AI technology allows it to identify which users will benefit most from the product. Blue Motor Finance’s new stock lending product has a host of features that allow customers to benefit from its unique features.