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Close Brothers Motor Finance partners with fintech Zuto to digitise customer outreach

02 May 2024 News Read time 5m
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Vehicle finance provider, Close Brothers Motor Finance, has joined Zuto’s marketplace of trusted lenders, enhancing access to its products and digitising the customer journey. 


As a result of the partnership, vehicle buyers will now be able to see rates and gain approvals for Close Brothers Motor Finance’s products, in real time via Zuto’s platform. The integration into Zuto’s platform also enables Close Brothers Motor Finance to provide quotations to Zuto customers based on soft credit checks and avoid the hard searches that can harm a consumer’s credit rating and eligibility to obtain future loans. 


The businesses engaged in a rigorous integration process connecting their systems to maintain a fast and seamless customer experience, and a secure flow of data.


Customers accessing finance via Zuto’s marketplace will also benefit from support from Zuto’s car buying experts, who can help them find the right car and carry out vehicle checks on their behalf.
 

John Cassidy, Director of Commercial Partners, Close Brothers Motor Finance said: “The way people finance their vehicles is changing and, as such, we’ve been developing our partnerships to continue supporting consumers buying used vehicles. Zuto’s tech team has helped us streamline our offering. Working alongside Zuto supports our goal to be where the consumer chooses finance. Its customer-centric marketplace gives us the opportunity to reach more people looking to buy a used vehicle and provides an extra layer of quality and service."


Joanne Robinson, director of lenders, Zuto said: “Close Brothers Motor Finance is an established name in vehicle finance with a forward-looking approach, as evidenced in its decision to partner with us as a fintech. Joining our marketplace will not only help the business reach a broader range of consumers, but also allow its customers to get quick decisions on finance applications, as well as clarity around approval and available APRs. Helping traditional lenders to digitise their offerings is part of our mission to create a positive automotive ecosystem and provide an excellent customer journey.”
The Zuto marketplace provides access to 20 lenders and combines a hi-tech platform with human engagement.

 

About Zuto
Zuto is a fintech on a mission to revolutionise the car finance industry and bring more transparency to customers. The Manchester-based company works with a large marketplace of lenders and has helped over 350,000 customers in the UK find the right car and finance that suits them. Zuto’s sophisticated platform connects with lenders directly and utilises extensive data and customer research to return a guaranteed rate and pre-approval within seconds.


Previously Car Loan 4U, the company has secured £17 million in investment from Scottish Equity Partners and has won a host of awards for the changes it has made to the car finance industry. In 2022 Zuto achieved B Corp Certification, verifying that the business meets high standards of social and environmental performance, transparency and accountability.


Zuto won Best Workplace at the Prolific North Tech Awards 2022, and ‘highly commended’ for best use of benefits to support diversity, equity and inclusion at Employee Benefits Awards in 2023.


About Close Brothers
Close Brothers Motor Finance, part of Close Brothers Group plc, has been helping people to purchase vehicles across the UK and Ireland for over 30 years. Close Brothers Motor Finance work in partnership with over 5,300 motor dealers, and specialise in financing new and used cars, motorbikes, and light commercial vehicles.  

  
Close Brothers Group plc is a leading UK merchant banking group providing lending, deposit taking, wealth management services, and securities trading. We employ over 3,700 people, principally in the UK and Ireland. Close Brothers Group plc is listed on the London Stock Exchange and is a constituent of the FTSE 250.  


In the UK, Close Brothers Motor Finance won the Innovation Award at the 2022 Car Finance Awards, the Car Dealer Power Award in 2023 for Finance Provider of the Year (Prime) for the fifth time in a row and was winner of the Best Business Motor Finance Provider at the Business Moneyfacts 2023 awards.

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