Alphera reports 75% growth from its digital car finance platforms

Alphera Financial Services said it has seen "significant growth" in the number of customers using its digital and online platforms.

Between January and September this year, Alphera reported a 75% year-on-year growth in user numbers for its MyFinance platform, an online portal where customers can sign and manage motor agreements.

Alphera won the 2019 AM Award for Best New Product or Service for its F&I sales accredation programme, in partnership with the Institute of the Motor Industry (IMI). 

The finance provider also reported a 67% monthly increase in the number of finance applications successfully completed using its e-Retail platform, since March.

Spencer Halil, director at Alphera, said: “We have seen major growth in the number of people completing their finance applications digitally and managing their agreement online this year.

“COVID-19 has accelerated trends that were already happening, thanks to long-term changes in consumer behaviour.

“Increasingly, we expect finance customers to become more comfortable signing and ‘self-serving’ online.”

In August, Alphera announced the appointment of BMW/Mini national leasing manager Adam Harley as its new head of key accounts. 

Following the coronavirus lockdown in the UK, Alphera said it has also introduced a new functionality to the MyFinance platform which includes a payment ledger, the ability for customers to express their end of contract intentions, a settlement payment facility, as well as a contract mileage calculator.

The updated platform also provides access to Alphera’s coronavirus updates and online payment deferral request form.