In recent years, more and more community and regional banks are looking at ways of enhancing their existing floorplan finance offering or are expanding their commercial lending businesses by providing floorplan finance as a new product.
Moving into floorplan finance allows lenders to better service their retailers by offering both floorplan and retail finance from a single dedicated source, resulting in an enhanced, stable and more cost-effective financial service critical to their retailers’ operations. After all, providing effective services and efficient solutions to dealer clients is at the heart of what lenders do.
In today’s fast-paced business world, having a legacy system or using offline tools to manage floorplan loans can cause major time delays in an organization. The lack of centralized risk, underwriting and customer account management can also pose significant stress on lenders’ resources.
A floorplan lending platform can take your floorplan financing operation to new heights by introducing features such as automated business processes, credit underwriting tools, comprehensive accounting controls and risk management going beyond dealer management. Even better is that you can have all this whilst ensuring you are fully regulatory compliant, able to meet the most demanding market programs and better able to maximize your business revenue.
The main thing to consider is the necessity of the right system partner to get a new platform to market quickly and painlessly. The key is finding a scalable solution that can deliver a cost-effective, user-friendly and comprehensive system that is economical and future-proof. What most lenders need is maximum flexibility with minimal disruption, with the potential to fit both current and future business requirements.
Are you ready to up your game and deliver a truly exceptional floorplan finance experience?
White Clarke Group’s CALMS Compass end-to-end floorplan finance software delivers feature-rich, out-of-the-box, regulatory-compliant functionality that is both highly efficient and which has all the power of an integrated 24/7 solution. It’s the ideal partner to support a successful floorplan finance line of business.
In addition to all the benefits CALMS Compass provides, it is the easiest system implementation you will ever experience: go from decision to live in less than 90 days with minimal IT resource involvement.
Try our simple configuration tool to choose modules relevant to your business and find out how we can help you take your floorplan lending to the next level.