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Effective Integration with 3rd Party Systems: Vital for Manufacturer's Finance Company

This article delves into the necessity of integrating with 3rd party systems for finance companies within the manufacturing sector, focusing on RCI Financial Services and its brands Renault, Avtovaz, RCI FS (UK), and Samsung. It explores the challenges and benefits of this integration, emphasizing the importance of efficiency, profitability, and regulatory compliance. The text discusses the use of the EDISON system for improved functionality, equity profiling, CRM platforms, and the associated risks and rewards of 3rd party interfaces. It also touches on the impact of online sales and in-store experiences, hinting at the need for adaptation and embracing change in the industry.

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Effective Integration with 3rd Party Systems: Vital for Manufacturer's Finance Company

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Presentation Transcript

  1. Integration with 3rd Party Systems: A Necessary Evil for a Manufacturer's Finance Company?

  2. RCI Financial Services – 4 Brands

  3. Renault Group Avtovaz (Lada) RCI FS (UK) Samsung Legal Structure 100% 100% RCI Banque 15% Dacia Nissan 99% 80% 25-50% 44%

  4. Renault - Nissan 1 in 10 Vehicles Worldwide

  5. Captive Finance Company?  Affiliate? 

  6. New Car Offers

  7. Used / Nearly New Cars

  8. UK Retail Market Growth

  9. RCI Growth • New Financings: • +37% 2011-2013 • £900M

  10. RCI Vision The Partner of Choice: Simple Efficient Effective Profitable

  11. RCI Vision The Partner of Choice: Simple Efficient Effective Profitable • Systems • Processes • Service levels

  12. RCI Vision Vision

  13. Service Levels Two Key Criteria: Speed of Turnaround Acceptance Rates

  14. Service Levels Speed of Turnaround Proposals Payouts

  15. Service Levels Acceptance Rates

  16. EDISON EDISON - 3 main components: ID Scanner E-Signature Pad Self-billing Invoice

  17. Point of Sale • Enhanced functionality: • Offer comparison • Post Code Look-up • Used Car Look-up • Bank A/C Check • Chassis Nr Check

  18. Point of Sale • Communications Suite: • Real-time Info, at a glance 0

  19. Equity Profiling • Monthly Alert of customers in positive equity • Bespoke Search facility • Export / Mail-merge • Phase 2: Parity Profiling

  20. CRM Platform • 4 Months-to-go & • Settlement Requests • >10,000 customers contacted • > 50% had no Dealer contact

  21. 3rd Party Interface Risks

  22. 3rd Party Interface Risks • Loss of Functionality • Regulatory Compliance • Competition

  23. 3rd Party Interface Risks • Loss of Functionality • Regulatory Compliance • Competition 3 Options Refuse to Co-operate Reluctant Compliance Embrace 100%

  24. 3rd Party Interface

  25. 3rd Party Interface Seem-less Instantaneous Accurate No Loss of Functionality Regulatory Compliance Key Criteria

  26. 3rd Party Interface Necessary Evil?

  27. On-Line 3rd Party Interface • Sales + 7% • In-Store +1% • On-Line +23% • 1/3 of Turnover Stores Mobile • Customer Service • Embracing Change Home Delivery Collection

  28. 3rd Party Interface

  29. 3rd Party Interface “If you do not change direction, you may end up where you are heading” Lao Tzu

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