Black Horse launches new online motor finance system

Source: Black Horse

Black Horse has today launched Black Horse SignIt, a paperless, simple, secure and efficient way to offer motor finance within a few clicks as part of the business’ programme to invest in its point of sale and dealer-support technology.

The aim is to free up customer and dealer time with a third less input required by both customers and dealers to complete the finance agreement process through an enhanced, secure online website, removing the need to photocopy or fax through documents.

What it does and how it works:
* Black Horse SignIt is a paperless method of offering motor finance to the end consumer, helping to speed up the process for customers to buy their car, bike, caravan or motorhome of choice.
* Exclusively offered to Black Horse dealers, connection to the secure website can be made through a variety of web browsers and is compatible with a full range of different tablet and portable devices.
* Once logged onto the website, there are fewer screens and questions to navigate through which means fewer clicks for both dealers and customers with an estimated third less input by both parties to go through.
* Customers will also be guided through an enhanced security process to help verify their identity, answering a series of questions based on their credit history that only the customer can know the answer to.
* Black Horse SignIt will also offer the option to upload ID verification documents including driver licence and passport removing the need to photocopy and fax through documents
* Black Horse SignIt will replace signature pads and bring to an end the use of paper and manual processes making the finance agreement process simpler, quicker and more efficient.

Paul Brotherton, Head of Business Strategy, Improvement & Support, Black Horse said: “Our dealers have been telling us that the finance process is cumbersome and time consuming for the customer, with duplicated form filling and waiting around whilst documents are scanned or faxed through to finalise the agreement. The new system removes all this whilst providing a secure and safe process for dealers and customers and has significantly reduced the time it takes to get a finance agreement signed which is good news for both our dealers and customers.”

“We are determined to be the motor finance lender of choice and believe by working hard; listening to our dealers around their needs and requirements and continuing to make digital investments in our business we will meet both our customer and dealer needs.”

Black Horse SignIt has already been piloted in a number of Black Horse dealers and will be rolled out to all 5,000 Black Horse dealers from July 2015.

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