A Financial App Ethos is Good for Dealer Finance

Collectively,UK consumers logged into banking apps 11 million times a day last year. It is a move that signals a major shift in consumer behaviour and one that we argue can be good for dealer finance.

While we can mourn the contraction of local bank branches, we must recognise that there is an evolution in the way we all ‘consume’ our personal finance needs. People value 24 x7 easy access and it is something that every dealer should be taking account of in their F & I promotion, notably on how smartphone friendly it is, observes Codeweavers Sales Director,Shaun Harris.

The growth of apps in banking is clear from new data that reveals that the use of internet banking on a computer fell for the first time in 2015,as users switch to mobile apps that consumers can and very clearly are accessing on the move. It is this mobility principle for dealer finance that Codeweavers is encouraging to embed into their digital presence.

It might be easy to assume that technology only appeals to certain people, but the reality is that digital innovation is powering change across all demographics. Customers like this new technology that is designed to make managing finances easier and which in the case of PCP finance can make customers’ money go further. But if dealers do not deliver the required level of access to their potential customers then it is that dealer who will miss out and the customer will simply go elsewhere in a handful of swipes concludes Harris.


By: Codeweavers - 22/08/16

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