Press
Toyota Financial Services selects APAK to supply Wholesale Finance system
Toyota Financial Services (UK) PLC (TFS) has chosen APAK Group to provide its wholesale finance system, WFSv5. The decision reinforces APAK’s position as a market leading supplier of specialist financial systems.
WFSv5 will go live during 2003, providing TFS with a web enabled, real-time, wholesale finance solution. The system will be supplied on an Application Service Provision (ASP) / full bureau basis.
TFS employees and over 210 Toyota dealers will be able to access the software online, to monitor and maintain their accounts. WFSv5 will also be used by Lexus Financial Services, a division of TFS, with over 50 UK Lexus centres gaining access to the system. Dealer wholesale finance will be provided for new Toyota and Lexus vehicles, demonstrator and courtesy cars, along with dealer sourced multi-marque used vehicles.
APAK’s selection followed TFS’ decision to in-source the majority of its finance operations and WFSv5 will replace the existing outsourced wholesale solution. Business efficiency will be significantly improved by interfacing the new software to Toyota (GB) PLC’s (TGB) sales and marketing system. This will help to streamline and automate Toyota’s dealer stock funding process.
Dealer on-line access will be via the Internet using a standard web-browser. Reports and invoices will be emailed to the dealer network, significantly reducing postal costs. Used vehicles will be verified using Experian’s Car Data Check database and data supplied by the DVLA. This will help TFS to ensure that used vehicles are funded with minimum financial risk.
“APAK has demonstrated an in-depth knowledge of the automotive finance industry”, commented Paul Waters, TFS’ Dealer Funding Manager. “From system specification to development, APAK has met the high standards expected by Toyota. The new system will assist in the development of wholesale funding to the Toyota and Lexus network supporting growth aspirations over the coming years”, added Waters.
APAK Group
Founded in 1979, APAK Group plc is
established as a leading provider of core financial systems to major financial
institutions world-wide. The key to APAK’s success has been its commitment
to providing the best technological and business solutions.
Further information:
Mark Johnson, APAK Group, APAK House, Badminton Court, Station Road, Yate,
Bristol BS37 5HZ UK
Telephone: +44(0)1454 871000
Email: mark.johnson@apakgroup.com
Website: www.apakgroup.com