Finding the right finance partners can make a real difference to a dealership. But establishing new lender relationships can take months. We believe there’s a better way.
We're excited to launch Fullbeam Financial Services, a new iVendi subsidiary designed to make it easier for dealers and lenders to connect, explore opportunities and build relationships.
Fullbeam brings a fresh approach to the motor finance market. By using the technology and compliant connections we already have in place at iVendi, we're helping dealers access new lenders without the lengthy process traditionally involved in establishing a relationship.
For dealers, this means greater choice and control over their finance offering. For lenders, it provides a simpler way to reach new retailers and explore business opportunities.
Six lenders have agreed to join Fullbeam, with four ready to go live later this month. We’re taking the first steps towards making dealer finance relationships faster, more flexible and easier to establish.
For dealers looking to expand or change their lending panel, establishing new lender relationships can be a lengthy process, often taking months with no guarantee that the relationship will work.
This can make it difficult to explore new opportunities, even when a different lender could be better suited to the dealership or its customers.
Fullbeam aims to change that.
Using our existing, highly compliant links between dealers and lenders, Fullbeam provides a ‘try before you buy’ approach, allowing both sides to explore potential relationships before committing to a full partnership.
As James Tew, CEO of iVendi, explains:
“Fullbeam is, as far as we are aware, unique in that it exists purely as an intermediary to enable dealers and lenders to use the existing, highly compliant links we have in place. It’s a ‘try before you buy’ proposition before entering a full relationship.”
James Tew, CEO of iVendi
Fullbeam is designed for dealers who want to take greater control of their own finance offering, rather than fully outsource motor finance to a broker.
Through our Finance Navigator online price comparison platform, dealers will be able to access participating lenders and make product choices from across the available portfolio.
This gives retailers greater flexibility to explore different finance options, identify gaps in their existing lending panel and find providers that better meet their business needs.
For lenders, Fullbeam offers a new way to reach dealers and explore potential relationships that might otherwise take considerably longer to establish.
Rather than replacing existing direct lender relationships or traditional brokers, Fullbeam provides another option for dealers who want to manage their own finance offering.
Fullbeam builds on the technology, infrastructure and relationships we've developed through our work in automotive finance technology.
Our experience and insight from real-world motor finance transactions also give us a valuable understanding of how dealers operate, where gaps may exist in their lending panels and which finance providers could best meet their requirements.
This means we can do more than simply connect dealers and lenders. We can also help retailers understand where new relationships could bring value to their business.
For lenders, it creates an opportunity to reach new dealers and explore business opportunities with greater flexibility.
Our longer-term ambition is to make dozens of lenders accessible to dealers through Finance Navigator.
The initial response from dealers and lenders has been positive, and we're excited about the opportunities Fullbeam could bring to the industry.
Ultimately, it's about making it easier for dealers and lenders to find the right relationships, giving retailers greater choice and helping finance providers reach more opportunities.
By building on the technology and relationships we already have in place, Fullbeam is another way we're helping automotive businesses work smarter and make more of the opportunities available to them.
Explore Fullbeam Financial Services
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