Private & Commercial Finance Group’s
(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.

“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.” 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.