iVendi

We're only a short few weeks away from the end of the first 1/4 of 2025....And what a start it has been for our fledgling business, our journey has started well and it's pleasing to see the fruits of our labour starting to show so much promise for the months ahead. We've captured a small sample of feedback from our dealer base and it's clear to see we've made a great first impression. A big thank you to our team - Katy Forbes MBA Ryan Hughes Iwan W. Joe Beaven, CFA Hannah Reakes Nikki Chivell Laura Barruffo-Woods David Pryce Sean Quinn for creating the space to get us to this point. To our dealer partners who have shown so much support in getting us here and very much our founding members of our early success, and if we haven't reached you yet - we look forward to meeting you in the months to come. And none of this could have been achieved were it not for our vital strategic partner iVendi! James Tew Rob Severs Becky Giles thank you for bringing our solution to life and here is to continued success in 2025!

It’s been a real pleasure Ben Standish to work with you and such an amazing team at Admiral Money. It goes to show what can be achieved when you unleash two high performing teams and give them their freedom!

A little late with this one… but we are still just as excited to announce it! 🎉 A big welcome to James Walker, who recently joined iVendi as our Vice President of Banking Alliances. James joined the team to strengthen and expand our lender relationships - an area of rapid growth for us. With his expertise, we’re looking forward to taking these relationships to the next level, creating even more value for lenders, dealers, and vehicle buyers. You can read more about it here: https://hubs.la/Q035Nv0w0 #Welcome #BetterLateThanNever #TeamGrowth #LenderPartnerships #iVendiLife

Nothing says "great to be working together" quite like cake! 🎂 We’re thrilled to be partnering with Oodle Car Finance to help enhance the car sales journey, making it smoother and more efficient for dealerships and buyers alike. A strong partnership deserves a proper celebration, and what better way than with something sweet? Here’s to exciting times ahead! 😀 #Partnership #Collaboration #CarFinance #iVendi

🎉 2024 Wrapped: What a Year! 🎉 From building milestone partnerships to celebrating 15 amazing years in business, 2024 has been incredible. A huge thank you to our partners, customers, and the iVendi team - you made it all possible! Here’s a quick look at the highlights. 👇 #2024Wrapped #OnwardTo2025 #15YearAnniversary #teamivendi

Exciting times 🥳

iVendi has been a fintech with a Wales HQ forever (well, for 15 years!), but it's great to now be an official part of the FinTech Wales community. Thanks for the warm welcome! #ivendilife

👏This is fantastic news for IVendi partner motor dealers across the UK, after the culmination of months of hard work by both iVendi and Marsh Finance Ltd teams. We cannot wait to assist the dealer market place to grow their vehicle sales on a simple, high tech, and fully automated journey! Don’t suffer from FOMO on something new. Get onboard with both parties to accelerate your growth and profitability 🤜🤛🤝

This week at iVendi has been bustling with activity. Lender meetings filled with informative 'show and tell' sessions have shed light on the alignment among motor finance companies regarding disclosure. While the overarching focus remains on updating finance agreements with commission disclosure, recent discussions have introduced new buzz words like 'fiduciary duty' and 'timely manner'. Delving deeper into the notion of 'timely manner', the critical question arises: when should disclosure occur? Adopting a customer-centric approach, we believe that disclosure should occur at a point of 'no detriment', coinciding with the decision-making process for selecting suitable finance products. While major lenders resonate with this perspective, the challenge lies in disseminating information to customers pre-application. The reliance on 3rd party API-driven systems complicates the pre-application disclosure process. Although providing estimations is a plausible solution, it introduces potential issues and ethical concerns. Ensuring transparency by disclosing actual commissions and their calculation mechanism, with explicit customer consent, becomes paramount. Viewing the lender finance agreement as a safety net, upfront disclosure serves as comprehensive evidence for all stakeholders, including potential legal scenarios. Stay tuned for further insights on this topic next week. As we navigate these discussions, it is imperative to safeguard not only consumers but also lenders, retailers, and individuals in SMF roles at dealerships. Upholding regulations is crucial, as compliance is distinct from legality. Mere claims of adherence hold little value without substantiating evidence. We all need to prioritise accountability and transparency in all financial dealings.

It’s been an unnerving few days for the retail motor industry in that the importance of the Budget has been largely overtaken by the Court of Appeal announcement on discretionary commission arrangements. New and used car, van and motorbike sales are largely dependent on the motor finance sector working efficiently, and that decision has caused much consternation. This means what we really need right now from the government is greater clarity around how the situation will be resolved. Against this backdrop, the additional costs that are being placed on our businesses in the Budget look more onerous than they would’ve just a few days ago. Moves such as increasing NI on employer contributions will be taking effect just at a point in time when there is a strong wave of uncertainty passing through our sector. Added to ongoing difficulties around electrification, it is clear that this is a potentially difficult moment to be selling vehicles. On a brighter note over the past 24 hours a number of lenders are back trading however there is a huge reliance on the larger lenders to "get back to the new normal". There's still a lot to figure out to protect the automotive eco-system. The lender-dealer relationship is symbiotic and finance is the oxygen that fuels automotive retail. I knew my biology A-level grade D would come in useful one day! Lender Status update page