Redline Application Services was initially chosen for Moneyway’s Motor Finance division. Moneyway wanted to offer motor dealers a quick and easy to use online application portal in order to achieve fast accurate sales. With Redline’s system, proposals could be created within minutes and instant credit decisions could be made. Prime and near prime scorecards were implemented in their highly configurable rate for risk system using our multi bureau credit decision engine.
Once the consumer credit software had been integrated into their Motor Finance division and was a success, it was then used for their Retail Finance division and soon after Personal Loans.
The online system allows you to easily capture customer details and gives instant credit decisions, eliminating the need for long telephone calls and form filling. On acceptance of credit, the Moneyway system will automatically produce the finance agreement, enhancing customer service and eradicating documentation errors that slow down payment.
About Moneyway
Moneyway is a trading name of Secure Trust Bank Plc. Secure Trust Bank is an established UK retail bank. Its core business is to provide banking services including a range of lending solutions and deposit and fee-based current accounts to UK customers who may not be adequately served by other banks.
The Company, which was incorporated in 1954, operates predominantly from its head office in Solihull, West Midlands, and has been a subsidiary of Arbuthnot Banking Group since 1985.
