BNP Paribas Personal Finance UK has collaborated with global equipment and auto finance software company White Clarke Group to create a new motor finance solution.
The finance company worked with specialist teams at White Clarke Group to create the new digital solution, which includes investment in enhanced IT platforms.
A wide range of auto financing products will be offered through the service, including hire purchase, personal loans, stock financing, personal contract purchase and personal contract hire.
Andrew Brameld, managing director of Motor Finance at BNP Paribas Personal Finance UK, said: “BNP Paribas is established globally as a significant provider in motor finance and we are now bringing that expertise to the UK market.
“Through engaging with experienced teams at White Clarke Group we have pooled our collective capabilities to create a suite of products that will provide our partners with helpful and responsible finance solutions. This is a great opportunity to establish ourselves within the £32 billion UK car finance sector and further grow BNP Paribas’ footprint within the automotive market.”
The consumer finance provider, part of global bank BNP Paribas, works with nearly 2,000 dealers in more than 11 countries, as well as partnering across a network of 16 vehicle manufacturers.
Brendan Gleeson (pictured), chief executive officer of White Clarke Group, said: “The 10 months’ timeline to implement this end-to-end out-of-the-box solution was set from the start and I am really proud of the partnership between the project teams from White Clarke Group and BNP Paribas Personal Finance which made this successful launch possible.”
The launch of the UK motor finance solution follows BNP Paribas’ acquisition of Opel Vauxhall Finance (OVF) and its announcement in February 2018 of a strategic plan to support the growth of OVF competitive automotive finance solutions across Europe.