Tunbridge Wells, 2 December 2021: BONAFiDEE Ltd.’s unique advanced electronic signature platform enables customer AutoMoney Motor Finance (AutoMoney) to deliver 80% of payments in under 2 hours. This case study won BONAFiDEE second place in the Car Finance Awards 2021, Game Changer category, in October 2021.
According to BONAFiDEE Founder, Francis Lang, the challenge facing AutoMoney when the brand launched in 2019 was credibility and rapid growth: “With the automotive finance sector being so incredibly competitive, challenger brands must differentiate themselves to both their car dealers and customers. AutoMoney’s objective to achieve this was rapid, compliant onboarding with minimum friction. That’s what Redline delivered.
“The winning brands in the Car Finance Awards, and those originally shortlisted alongside us, include many of the financial sector’s leading mature technology providers. The second-place win for us is recognition by our industry peers that BONAFiDEE’s unique technology is transforming customer on-boarding and the account approval processes.”
AutoMoney’s CEO, Roger Lingard, highlights the importance of BONAFiDEE’s solution in accelerating growth: “Speed and compliance are two vital elements underpinning our business model to acquire new customers quickly. We needed a solution that gives us credibility from the outset with control, flexibility and agility so we can rapidly update our offering to respond to customer needs.
“Most of our motor finance peers use the same platform for advanced security and e-signature solutions. During our due diligence, we spoke to over thirty major players in the auto-finance sector and every one of them said ‘talk to BONAFiDEE’.”
BONAFiDEE is integrated within AutoMoney’s credit lending platform and high levels of automation remove the need for intensive manual work. As Lang explains, automation, an intuitive and flexible user experience and affordability are a winning combination:
“The high level of automation means our clients can scale without increasing headcount. This frees up employees to focus on added value work. At the point of acceptance, everything is direct to the consumer, who consents digitally using any internet-enabled device. AutoMoney is configured to include joint applications, a market-leading feature and another differentiator.”
Lang concludes: “Our clients’ successes alongside the shortlisting for various awards further demonstrates that our innovative technology is transforming organisations and their operations. The combination of enhanced compliance and superior customer experience is a testament to what can be achieved when best-of-breed technology is applied effectively.”
