Spain becomes the ninth European country for OVF partnership with Nucleus Software
Opel Vauxhall Finance announces the go-live of Nucleus Software’s flagship loan product, FinnOne, in Spain. Nucleus Software is the leading provider of credit and transactional banking products and solutions to the global financial industry. Spain is the ninth European country for Opel Vauxhall Finance (OVF) to go live with FinnOne.
OVF is the in-house automotive finance organization of Opel and Vauxhall, supported by Stellantis and BNP Paribas. OVF operates under strong local brands such as Opel Bank, Opel Financial Services and Vauxhall Finance. OVF has several operational branches across Europe, each operating under a local banking license or as a financial institution.
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While FinnOne has been supporting companies for Opel Vauxhall Finance in Europe since 2006, Spain is the newest country to do OVF business with FinnOne. The OVF FinnOne partnership started in Italy and then expanded to Belgium, the Netherlands, Great Britain, France, Germany, Austria and Switzerland. The OVF portfolio includes a wide range of auto finance products including consumer credit, leasing, insurance and service contracts.
Opel Vauxhall Finance wanted to leverage its core applications to achieve economies of scale. Nucleus Software FinnOne SRS (Strategic Retail Solution) helps OVF to use existing functions and to adapt Spanish business processes to OVF’s strategic applications instead of adapting them and thus increasing the scope and costs.
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“When FinnOne goes live in Spain, Opel Vauxhall Finance will be able to improve operational efficiencies and adapt to the company’s strategic technology framework. As digitalization progresses, we will also be able to strengthen the cooperation with Opel / Vauxhall to increase the volume of financed / leased vehicles and at the same time to increase retail margins across Europe, ” says Alexandre Sorel, CEO of Opel Vauxhall Finance.
“We are proud to continue adding value to our longstanding partnership with Opel Vauxhall Finance (OVF). Spain is the ninth European country where FinnOne supports OVF in running its complex business. A joint solution in nine countries offers OVF a competitive advantage in terms of operational efficiency, uniform rollouts and standardization. We were able to go live despite the pandemic by fulfilling our business commitments thanks to the collaboration of the OVF and Nucleus teams, leveraging our extensive expertise in offshore implementation methodology, ” said Parag Bhise, CEO of Nucleus Software.
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