BLUE MOTOR FINANCE AND TRUELAYER ANNOUNCE PARTNERSHIP TO IMPROVE CUSTOMER OUTCOMES

Blue Motor Finance (Blue) and TrueLayer today announced their partnership to enhance Blue customers’ outcomes using TrueLayer’s deep open banking transaction data.
TrueLayer is a global open banking platform provider. Businesses use their open banking network to securely access transaction data and enable instant payments. A third of open banking traffic in the UK goes through TrueLayer.
Blue uses open banking transaction data to build a holistic view of a customer’s finances, which in turn leads to better and faster lending decisions, as well as the ability to provide lending to previously under-served market segments. The use of open banking data also means that the slower, manual, process of collecting items such as bank statements can be avoided
Tiku Patel, CEO of Blue Motor Finance commented:
“Blue continues to revolutionise the used car market through its unique application of tech, data and analytics, delivering high levels of acceptances across the risk spectrum, fast decisioning and high levels of convenience. The new partnership with TrueLayer will give Blue an even better picture of a customer’s finances and allow Blue to continue lending responsibly to under-served market segments.”
Nick Tucker, Head of Financial Services at TrueLayer, commented:
“We’re delighted to work with Blue Motor Finance to power fast, accurate lending decisions with our Data API. By connecting to customer bank accounts in real time, the experience of applying for finance is much more seamless and both lenders and customers can be confident in the outcome.”

 Download more on this press release