(P&CF) proprietary internet-based proposal system, e-Quote, has
been confirmed as contributing substantially to the group’s ability
to demonstrate recent excellent results for year ended 31 March
2008 (see ‘Massive hike in profits at P&CF despite
crunch’).
Michael Cumming, P&CF’s chairman, explained that both the
group’s Business Finance and Consumer Finance divisions operate a
similar business model whereby they receive finance proposals
introduced by a national network of finance sources via
e-Quote.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
“This,” he said, “enables us to process a high volume of finance
proposals quickly and efficiently at low overhead costs and,
crucially, to maintain disciplines of credit quality and
documentation.”
In the previous year (2006/7) e-Quote was processing over 10,000
proposals each month. Less than a year later, the system is
processing over 35,000 proposals each month for the Consumer
Finance division alone.
Cumming added: “Both divisions have experienced teams of
underwriters who review those proposals that have not been
automatically declined by e-Quote. After making such enquiries or
requests for information as they deem necessary, the underwriters
then decide whether to accept or decline the proposal. Further
documentary identification and anti-fraud checks are conducted
prior to advancing funds.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
