Your team spends hours chasing missing documentation, manually validating assets and fixing data errors that could have been prevented. Meanwhile, dealers frustratingly wait for funding decisions, and this manual, resource-intensive process limits your growth.
Sound familiar?
For automotive floorplan funders, this scenario plays out daily across the industry.
The culprit?
Outdated wholesale origination processes that haven’t kept pace with today’s digital-first world.
But what if you could flip the script entirely?
The hidden cost of wholesale origination
Traditional wholesale funding processes are bleeding money in ways many funders don’t fully realise. Every manual intervention, every phone call to chase documentation, every error correction—it all adds up.
Manual origination costs funders more than automated checks do, because of issues such as:
- Dealers submitting incomplete proposals, triggering multiple back-and-forth exchanges
- Staff are spending valuable time on data entry instead of relationship building
- Funding delays that frustrate dealer partners and slow cash flow
- Human errors in asset validation leading to costly downstream corrections
Introducing PreCheck – a solution built from the ground up to address the key issues of cutting risk in the wholesale lending process, whilst enabling banks to grow their portfolios.
How PreCheck changes your funding operation
Think of PreCheck as your digital operations manager that never sleeps. Here’s how it works its magic:
1. Dealers take the wheel with a self-service portal
Instead of playing phone tag with your team, dealers access an intuitive portal where they can submit complete proposals 24/7. The interface guides them through each step, ensuring they provide all necessary information upfront.
The impact? Your team stops chasing missing documents and starts focusing on higher-value activities.
2. Validation happens on submission
Gone are the days of manual asset checks. PreCheck’s rules engine checks each submission as it comes in. It flags problems straight away, so only complete, accurate proposals reach your desk.
The result? Faster decisions, fewer errors, and significantly reduced processing time.
3. Faster funding decisions
With clean data and automated validation, your team can make funding decisions in hours, not days. PreCheck supports instant settlement processes that get capital to dealers when they need it most.
The bottom-line impact for UK funders
Let’s talk numbers. CheckVentory PreCheck delivers measurable results:
Efficiency Gains: Process more funding requests with the same team size. Funders have already launched new floorplan products and grown their market with less risk, without adding staff.
Faster Turnaround: What used to take days now happens in minutes and hours, improving dealer satisfaction and cash flow velocity.
Better Data Quality: Automated validation means cleaner data from day one, reducing downstream corrections and compliance issues.
Certainty: With pre-validation, funders can extend risk with the certainty that it is asset-backed before the funds are released.
Dealers now expect the same digital experience they get from consumer apps, and that means instant, intuitive, and available around the clock.
Funders still relying on traditional processes face a stark reality: they’re competing with one hand tied behind their back. While they’re processing paperwork, digitally enabled competitors are capturing market share with superior speed and service.
The competitive advantage is clear: funders using PreCheck can respond to dealer needs faster, more accurately, and at lower cost than those stuck in manual processes.
Your next move
The question isn’t whether to modernise your wholesale origination but rather how quickly you can make it happen. Every day spent on manual processes is money left on the table.
Ready to see what streamlined origination looks like?
Contact us today to schedule a demo, learn more about PreCheck, and see how it could cut your origination costs.