Leading POS funding provider Black Horse has reported 18% net lending growth and 33% year-on-year to £8bn during the first half of 2015.
Black Horse, which is part of the Lloyds Banking Group, added 155,000 new customers across motor, motorcycle and leisure portfolios in the period and has continued to invest heavily in its digital offering. This includes development of Black Horse Signit, a new online motor finance system to speed up the sales process for dealers.
Commenting on these figures, Black Horse MD Richard Jones said: “Our progress has been driven by new business growth and working hard with dealers and manufacturers to offer competitively-priced and transparent finance offers for consumers. A significant digital investment drive also ensures that we meet changing dealer and customer needs in an efficient and secure manner. The past 18 months have also seen substantial changes in the way point-of-sale finance is regulated and we have worked hard to put the right processes in place and ensure our dealers have the appropriate information and guidance to implement these changes.”