‘Improved service and greater protection’
MotorCheck has moved to dispel fears amongst dealers that the changes in the provision of data between finance houses and provenance check providers, otherwise known as the Data Exchange, will have a negative impact.
It says that improved speed of finance registration, better data quality and enhanced data management will ensure greater protection for dealers and their customers alike.
MotorCheck entered the UK market earlier this year, having successfully established itself as Ireland’s leading provenance check provider.
It claims to offer dealers a vehicle history check that protects businesses from reputational risks or financial loss.
As of 1 July, the three Motor Asset Registration Service (MARS) agencies – CDL VIS, cap hpi and Experian – will receive data directly from the majority of finance houses, moving away from the Data Exchange established mid-1990.
Shane Teskey, co-founder of MotorCheck, said, ‘There’s a misconception within the dealer community that the changes in the way financial data is being provided between finance companies and provenance check organisations will weaken the proposition. However, it is our belief, and that of CDL VIS, that a direct supply is the most efficient form of management for lender data. It allows each MARS member to take full responsibility of the data, it improves the timeliness of registration, will improve data quality and allow lenders to manage the data more effectively.’
Mark Bailey, head of CDL VIS, added, ‘For the past two years, CDL VIS has worked closely with all lenders in preparation for planned changes to the Data Exchange to ensure continuity in the supply of lender data. We enjoy positive relationships with all the major finance houses, who have welcomed our approach to supply data directly. Crucially, these new direct arrangements mean dealers should expect to experience an improved service and greater protection.’