ALPHERA Financial Services is a motor finance business run by enthusiastic motor trade specialists. Operating across the F&I sector with franchised dealers, independents and brokers for all marques (except BMW), we provide flexible finance for new and used vehicles.
We are thrilled to partner with AM to deliver what we believe is a pivotal event in the calendar of every provider of consumer credit in the motor industry. Indeed, the world of motor retail is changing and the FCA is the biggest change as well as the most significant opportunity in more than 30 years.
With the FCA as a catalyst, we are encountering a once-in-a-generation opportunity to make a seismic change to the way in which the motor trade does business. There will need to be a reflection on practices around commission, affordability, sales incentives and the general approach to treating customer fairly in order to ensure that dealers, brokers and lenders are compliant with the new regime.
The impact of technology, regulation and consumer empowerment means that the industry must ensure the customer is at the heart of the business. Those businesses which will emerge successfully from this period of transition will be the organisations which put customers at the centre of their decision-making.
We are working closely with our Partners to embrace this change in order to win business, retain customers and deliver the right outcomes for everyone concerned. That’s also why we are delighted to support this compliance event with AM.
Worldwide, Alphera provides innovative vehicle finance solutions in more than 25 countries, including the USA, South Africa, Australia and Germany. ALPHERA Financial Services UK is based in Hook, Hampshire. To find out more, visit www.alphera.co.uk.
MAPFRE ABRAXAS are pleased to be sponsoring the AM F&I Conference 2015.
Much of the focus over the last year has been on consumer credit. However, following the previous consultation process that ended in March, the FCA has now published its final Policy Statement on GAP insurance competition remedies with new rules coming into force on the 1st September.
With this in mind, the AM F&I Compliance Conference is a ‘must’ for dealers who want to learn more, stay ahead of the game and have their say.
We look forward to seeing you on the 10th November.
About MAPFRE ABRAXAS
MAPFRE ABRAXAS is a market leader in GAP and add-on insurance products with partnerships with some of the industry’s most well known dealers and manufacturers. We have been leading the way in terms of supporting our partners with innovative solutions to ensure their GAP business is future-proof in light of the new FCA rules. We are confident that our product and channel innovation strategy, along with our dedicated partnership and distribution team, make us the insurance experts that give you more.
If you would like to find out more about our market leading partner proposition then call us on 0845 6838795 or email us at email@example.com
Car Care Plan
Car Care Plan is delighted to be involved in the AM F&I Compliance Conference. With wide-scale changes pending from the regulator, now is the time to ensure that you are complying with the legislation and that your customers are receiving appropriate support, products and services. The AM F&I Compliance Conference is a superb way to understand the changes, their impact on your business and how the industry is supporting retailers.
Car Care Plan works closely with manufacturers and dealers to provide products and services that are appropriate, compliant and effective; we enhance dealer processes to support sales and provide customers with products that are tailored to their needs. With an award-winning range of warranty, roadside assistance, cosmetic warranty and 5-star Defaqto rated asset protection insurances, Car Care Plan provides dealers and customers with peace of mind and reassurance.
We develop e-commerce solutions that make vehicle selling easier for retailers, vehicle buying easier for consumers and vehicle finance easier for all. Founded in 2009 and with offices in Abergele and Manchester, our products are already in use by more than 2,900 dealers across the UK. We work with finance companies, manufacturers, vehicle portals, digital media providers, data providers and marketing agencies to help dealers take advantage of the changing digital landscape and the rapidly evolving vehicle buying process.
A key feature of our products is that they enable dealers and others to easily engineer auditable processes that help to meet all compliance needs, including the new FCA requirements. It is our view that ensuring compliance should be fundamental to all dealer digital solutions. We would be delighted to discuss with you how we can provide assistance in this area and are very pleased to be involved in the AM F&I Compliance Conference 2015
Northridge Finance is one of the UK’s most dynamic challengers in motor finance. A division of Bank of Ireland, UK financial services provider for over 50 years, we have built a trusted reputation for listening and delivering real answers.
The motor industry’s new regulatory landscape under FCA has led to a more compliant, transparent and customer focused environment. This approach is central to the way we do business and we are delighted to be involved with the AM F&I Compliance Conference.
Northridge’s unique Joint Venture product, winner of Motor Finance Europe Best Finance Product 2015, is just an example of the innovated products or services we can offer our dealer partners. A 50/50 shared risk/reward scheme offering competitive base rates in a conduct friendly package.
Through offering exceptional service and products, Northridge is quickly becoming a leading independent finance partner; committed to creating opportunities and forging long-term relationships.
Automotive Compliance Ltd, a Directly Authorised Financial Conduct Authority (FCA) Principal Firm with over 250 Appointed Representatives (AR’s), has been working within General Insurance Meditation specifically for the Motor Industry since 2008, and has also been approved by FCA for Consumer Credit effective from November 1st 2014.
Automotive Compliance are unique in this field as they are the only company in the UK with this dual permission issued by the Regulator, Motor dealers are able to advise and sell finance as well as General Insurance under the umbrella of Automotive Compliance without direct FCA authorisation giving the dealer a complete compliance solution.
i-Comply online – not leaving compliance to chance
The importance of compliance in the UK is reflected in a 22% rise in recruitment for compliance officers in 2014. It is a clear sign that complying with regulation needs to be a daily part of the operation of all businesses. However, justifying a full-time compliance expert in every dealer showroom would be a stretch, even though compliance with FCA regulation for F & I needs to be rigorously implemented, maintained and reported upon. This is where industry expert’s i-Comply online comes in.
Totally focused upon meeting the needs of the retail motor industry, i-Comply online are on hand to audit a dealer’s F & I processes and controls, recommend any appropriate remedial action and then launch and implement a control process that monitors all F & I activity. It ensures the business leadership can focus upon growing showroom activity and that includes increasing the value of F & I as a profit and retention tool.
Call Tara Williams at i-Comply on 07717 805010 and discover how this focused approach can benefit you and your business.
Consumer Credit Compliance
Consumer Credit Compliance Ltd is a leading compliance consultancy in the UK providing expert guidance tailored to clients’ requirements. CCC can assist companies with their FCA consumer credit applications for Limited or Full authorisations and ensure all systems, controls and documentation are compliant. Support will be provided by creating the Regulatory Business Plan as well as devising and production of Compliance Procedures. CCC also provide ongoing support packages to ensure that you remain FCA compliant, eg monthly packages (including regulatory updates, client portal), GABRIEL reporting, ad hoc consultancy service and review of agreements and policies/procedures.