Press
APAK implements Wholesale Finance system for International Motors Finance
APAK’s Wholesale Finance System (WFSv5) has been successfully implemented for International Motors Finance (IMF), the joint venture between Bank of Scotland Corporate and International Motors.
The new system replaces IMF’s existing wholesale finance technology and will support over 200 Subaru, Isuzu and Daihatsu dealerships, providing a real-time, web enabled solution. Dealer staff will be able to access the software online to monitor and maintain their accounts, helping to streamline and automate the stock funding process between manufacturer, dealer and finance house.
“Our system has been expertly designed to cater for joint ventures like International Motors Finance”, commented APAK’s WFS Business Manager, Andy Gay. “WFSv5 will support multiple company and manufacturer relationships as well as dealer group structures”, added Gay.
The new system will be supplied on an Application Service Provision (ASP) / full bureau basis. Dealer Internet access is via a Java Server Page (JSP) application, which means the software does not need to be distributed. Any modern PC with a standard web-browser is all that is required. Dealer wholesale finance will be provided for new, demonstration and used vehicles. Over 4000 vehicles have been migrated from the existing software, with volumes expected to increase significantly throughout 2005.
“APAK offers an invaluable resource for specialist wholesale finance technology” commented David Foster, Director of Sales and Business Development at Bank of Scotland Corporate. “The successful implementation of WFSv5 means we now have a system that will support those funding arrangements which are unique to our joint venture relationship with International Motors”.
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