Volvo Financial Services (VFS) has won a major digital transformation award for its work on a new mobile platform for truck customers.
It is one of the winners of IDG Enterprise’s 2018 Digital Edge 50 Awards, presented annually by IDG, one of the world’s largest technology, media, data and marketing services companies.
Award winners are selected by a panel of industry experts including business and technology executives.
Volvo Financial Services won the award for its newly-implemented mobile customer quoting and approval platform, which provides financing quotes to truck customers in select VFS markets around the globe and creates localized applications for the originations process.
Fiona Daniells, solution portfolio manager for VFS, said: “The apps provide various services, including quotes based on VFS interest rates, a queue manager for viewing deals which need processing and a price authorization tool to speed up internal processes.
“The apps look and work the same across regions and markets, and the price authorization tool resulted in a 43% increase in decisioning speed in Europe within the first few months it was implemented.”
The company was formally honored as a Digital Edge 50 Award winner at IDG’s Agenda18 conference, held in Florida, USA.
Adrian Samareanu, chief digital and information officer for Volvo Financial Services, said: “At VFS, we strive to be fast and easy to do business with, and to provide an exceptional experience for our customers throughout the finance lifecycle.
“We are honored that our new platform and apps are being recognized, especially since they represent our efforts to continuously drive customer loyalty and innovation. We are the only captive finance company on IDG Enterprise’s list of innovative companies to receive the award, and we’re proud of this project and of the team behind it.”
Volvo Financial Services is the global finance arm of the Volvo Group, one of the world’s leading manufacturers of trucks, buses, construction equipment, and drive systems for marine and industrial applications. Volvo Financial Services was formed in 2001 and is headquartered in Greensboro, North Carolina, USA.