It was recently announced that next year a ban on discretionary commission models in auto financing will take effect in the UK. No longer will vehicle retailers and finance providers receive commission linked to the interest rate a customer may pay – a clear incentive to act against customer interests. Robin Amlot of IBS Intelligence discussed what the change in regulations means for the UK motor financing industry with Daniel Layne, CEO of FinTech Quotevine, which specialises in finance software and cloud solutions for asset, auto and consumer finance.
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