“Solifi’s scalable software-as-a-solution (SaaS)-based open finance platform supports BCA’s future growth in the motor dealer buying and funding journey”
MINNEAPOLIS, U.S. and LONDON, U.K. | Aug. 10, 2022 Solifi, a global fintech software provider for secured finance, announced that British Car Auctions (BCA) extended its Solifi platform contract to support the expansion of its wholesale finance offering.
The BCA Partner Finance service supports dealers purchasing vehicles in BCA’s online sales, funding the whole auction purchase exclusively at BCA, including fees and VAT where applicable with both cars and light commercial vehicles eligible for funding. Solifi’s software-as-a-service (SaaS) technology offers BCA’s customers using the scheme greater flexibility in the stocking decisions they make, and the service frees up capital to enable investments in growth. BCA Partner Finance processes more than 100,000 contracts and £1billion of funding per annum.
“The latest cloud-based version of the Solifi Wholesale Finance platform will support our unique digital buying and funding journey for motor dealers and is scalable as we continue to expand our wholesale finance operation,” says Malcolm Thompson, managing director at BCA Partner Finance. “The platform is highly configurable to our needs, easy for our trading partners and dealers to use, and expedites the time it takes to add new products.”
The Solifi Wholesale Finance platform helps customers manage the end-to-end stocking and wholesale financing of dealer inventory. Our technology gives BCA access to comprehensive portfolio and risk management processes, an easy dealer self-service request and account management portal, and streamlines how they fund assets through their supplier channels – all while only paying for what they use.
“We are excited to continue our long-standing partnership with BCA as they invest further in their wholesale finance offering,” says James Redfern, VP Sales, EMEA at Solifi. “This is a fantastic endorsement of our wholesale finance platform, which is designed for both small- and large-scale businesses needing cost-effective, scalable technology to meet dynamic customer requirements.”
About Solifi
IDS, William Stucky & Associates, and White Clarke Group are now Solifi, delivering a solid financial technology foundation for equipment, working capital, wholesale, and automotive finance firms. At Solifi, we believe that commerce is only as strong as the system it runs on. Our mission is to reshape finance technology by bringing together proven solutions into a singular powerful technology platform designed to help you protect and scale your business. We guard your company by being precise and reliable, we guide you to success by combining powerful technology with proven expertise, and we help you grow by unleashing the potential of your business. For more information, please visit www.solifi.com.
About BCA
BCA is the leading end-to-end, fully digital B2B used vehicle marketplace across the UK and Europe supported by its own in-house fulfilment and logistics services. For more information, please visit www.bca.co.uk.
