SLOT ON EUROPEAN LEASE TECHNOLOGY, COMPILED BY BRIAN
ROGERSON
One software company is bucking current economic uncertainties
and making inroads into the UK broker market.
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From a standing start five years ago, Frontline Solutions UK,
headed by managing director Andy Shuter, has implemented its
principal product, DealTrak Broker, into around 30 brokers.
Recently, Frontline formed a partnership with Capricorn Ventures
International, a European-managed investment company. Access to
funds forged as a result of the deal has since enabled the company
to expand its operations into South Africa, Gibraltar and the
US.
Also, last month, Frontline established a partnership with 4P
Solutions, a mobile computing specialist.
It is in the UK that the seeds of Frontline’s success have been
sown. One well-established broker who adopted DealTrak, Simon
Barrett, of Barrett-Lee a UK broker, told Leasing Life
that, previously, the company relied on faxes and phone calls to
place deals.
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By GlobalDataBarrett said: “DealTrak makes the whole application process more
efficient by taking away the requirement to fill out a number of
paper applications before sending them off to various lessors.
“With a DealTrak,we just have to input a customer’s details once
and these are electronically transferred to various loan
companies.”
Following implementation of DealTrak, Barrett said he is now
looking to enhance his company small fleet and commercial vehicle
businesses. It currently has existing connections with Lex Vehicle
Partners and ING Car Lease.
Colin Swanston, managing director of Potential Asset Finance,
said, since his company’s implementation of DealTrak, approval
turnaround times have been dramatically reduced and record levels
of new business applications are being received. As a result, hire
purchase and leasing advances places have increased year-on-year by
more than 60 per cent.
“March 2008,” he added, “was a record month with more than £1m
of brokerage business placed.”
GE Money has had an established working relationship with
Frontline for some time, and Steve Coe, of GE Money, said “we are
now exploring other business opportunities together”.
