Colwyn Bay-based fintech iVendi has announced that Big Motoring World has adopted its latest solution, Finance Navigator, to provide instant, comprehensive finance quotes for customers both online and in the showroom.

The platform enables finance quotes to be returned in under 10 seconds, showing key details such as monthly payments, the likelihood of approval, and indicative finance rates. Crucially, the system uses soft credit searches, ensuring customers’ credit scores remain unaffected.

Finance Navigator can also issue pre-approvals when customers provide accurate details, streamlining the journey from enquiry to application. The tool integrates with Big Motoring World’s existing panel of lenders and applies each lender’s specific eligibility rules in real time.

Steve Archer, Director of Financial Services at Big Motoring World, said:

“We looked across the market and iVendi’s latest solution was heavily focused on putting the consumer first, which is exactly what we aim to achieve as a business.
“Both in the showroom and online, the technology will help us use lenders’ risk-based pricing products to better align the customer rate with their credit risk.
“It provides fast and easy means for us to either guide the car buyer through the finance process to making an application, greater empowering the customer to make their own decisions.
“The whole process is intuitive, informative and effective – and early indications are showing an across-the-board increase in finance penetration of more than five percentage points.”

James Tew, CEO at iVendi, added:

“We’re delighted to see Big Motoring World adopt this technology. It’s a product that we think will be a gamechanger when it comes to how dealers handle finance.
“It requires less details than a full application from the prospective car buyer to rapidly generate a comprehensive set of results from their lending panel.
“We’ve been referring to it internally as ‘Skyscanner for dealers’ but the truth is that it does much more than that, delivering not just details about the finance options available but also providing an accurate indication of the likelihood of approval, dynamically re-quoting from the lender and offering pre-approval where available.
“Additionally, results are filtered out for customers who don’t meet rules covering risk appetite for each lender.
“This substantially reduces overall decline rates.”

This adoption showcases how Welsh fintech innovation is driving consumer-centric transformation across the automotive sector. As a FinTech Wales member, iVendi continues to lead the way in intelligent motor finance solutions from its base in Colwyn Bay, North Wales.