Letting customers self-serve their motor finance needs is proving the most effective route to Consumer Duty compliance, iVendi is reporting.
Motor finance deposits and payments have stayed “remarkably consistent” over the last 12 months despite ongoing interest rate pressures, says iVendi.
Online car searches that specify “electric” as a fuel type have almost doubled in the last six months, iVendi is reporting.
Ivendi is launching a new product range this week designed to act as a “single point solution” to dealer Consumer Duty compliance.
Ivendi has taken the experience of 8,000 retailers, manufacturers and finance partners to create a free step-by-step guide to the new Consumer Duty regulations.
“Natural language” online car search is now being used in more than half of instances where it is offered by dealers, new data from iVendi shows.
An April 30 deadline for motor finance providers to issue product reviews to their retail partners will put car dealers on a “compressed timeline” to deliver compliance with the Financial Conduct Authority’s new Consumer Duty regulations.
New browsers that make use of artificial intelligence (AI) technology could permanently change how customers search for cars online, says iVendi.
After more than six years at iVendi Phil Harding has left to join Automotive Compliance as its national sales director, in a newly created role.
Car buying journeys are likely to become longer more complex in 2023, as the cost of living crisis affects consumer behaviour.
Single point dealer processes that track motor finance activity could prove essential to meeting the Financial Conduct Authority's (FCA) Consumer Duty principle, says iVendi.
Consumer behaviour is constantly evolving particularly in a volatile and fast-changing market so it has never been more vital to deliver a bespoke car buying experience, says iVendi’s chief commercial officer Darren Sinclair.
Car retailers have been told “there can be no compromise” when it comes to the technology leveraged to ensure compliance with the Financial Conduct Authority’s (FCA) new Consumer Duty.
Two new vice president positions have been created at iVendi, to support its growth ambition to double revenue within three years.
A new iVendi whitepaper is aiming to help car dealers improve their online experience and bridge gap between to retailers Amazon, John Lewis and eBay.
iVendi has created new business units and has appointed new country directors in France and Spain.
Automotive finance company Oodle has been recognised as an industry ‘game-changer’ at this year’s Car Finance Awards.
Candid online used car and van descriptions that highlight scratches, dents and other minor damage are a key lesson from digital disruptors for dealers, says iVendi.
iVendi has outlined a five point plan to help dealer maximise their online presence as the used car market begins to lose growth momentum.
IVendi has promoted five staff members to newly-created vice president positions as part of its growth strategy.
