The awards committee at the Institute of Transport Management has awarded Black Horse Motor Finance the Innovation in Motor Finance 2007 Award for its pioneering new finance business management system, LetsUConnect.
LetsUConnect was launched in October 2006 with the objective of giving dealers total control over every aspect of their finance business, making accessing and processing information much simpler than before, and much less vulnerable to fraud. So far, more than 450 dealers have signed up for the new technology, with a further 900 due to be online by the end of March.
Announcing Black Horse Finance as winner in the Innovation category, Patrick Sheedy, media and PR director of the Institute said: “Vehicle retailers and manufacturers earn a sizeable proportion of their income through the sale of finance and insurance products.
LetsUConnect allows for fast, accurate processing, which offers a high degree of efficiency – critical to the growth of a successful motor business.”
The new system interacts with eQuips – Black Horse’s internet-based online finance proposal capture system – empowering dealers to take a greater part in the lending process and helps reduce the validation process by allowing online identity checks and electronic signatures.
John Woolley, managing director for Black Horse Motor Finance said: “We are delighted to be recognized by the Awards committee for our enhanced technology. We are continually looking to offer our dealers a more streamlined process and to give them a competitive advantage, so it is very encouraging when we receive recognition awards, as it confirms that these changes are having a positive impact on dealers, and the industry as a whole.”
Mr Sheedy continues by saying: “It is our opinion that by employing this system, dealers can expand their service offerings, which in turn will help them hold onto one of their most profitable areas of operations – finance.
“I’d like to congratulate Black Horse on winning this very deserving award in recognition of a process which, by utilizing the very latest in technology, promises to revolutionize the way the motor industry operates.”