Moneybarn win at the Motor Finance Awards

Back in May of this year, Moneybarn were crowned the winners of ‘Non-prime Lender of the Year‘ at the Motor Finance Awards 2019. Across the year of 2018 we saw our business grow by continuing to take on new customers. We believe this is down to our improved end to end customer experience and technological innovation.

We truly care about our customers; everything we do is powered to help people move forward for a better road ahead.

With the FCA announcing new affordability regulations last year, we took this as our opportunity to redesign our customer onboarding journey. Using new affordability checking systems we could provide immediate, committed credit decisions for the first time, to many customers who may have struggled to get finance from mainstream lenders.

Comments left by customers showed that our new onboarding processes hadn’t gone unnoticed, with many commending the fast-initial process. Throughout the last year we halved the average time of the process from 7 days to 3.5 days, with some customers receiving their new cars within hours of their initial interaction with us!

To increase our use of technology in our customer journey we partnered with ClearScore. This is an organisation that lives and breathes the values of a strong user experience and customer satisfaction, so we instantly knew that this was a good choice of partnership. We integrated our affordability checking systems with the ClearScore application, making us the first to offer select users ‘pre-approved’ vehicle finance.

We understand that our customers have most likely been rejected from credit applications in the past, so we were extremely passionate about creating a positive yet responsible interaction with them. We believe that the partnership with ClearScore was the first step in our journey in achieving this.