Credit Strategy is launching a new, regular survey to gauge signs and activity of the car finance market’s recovery, and the levels of optimism.

The Car Finance Confidence Tracker will show what is concerning the industry the most, and what changes are being made in order to drive a recovery. It will be used to track statistics, market sentiment and business levels and the uses of technology.

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1. As the motor finance market shows initial signs of recovery, please name up to three elements which most concern you about the market’s ability to continue a steady recovery?

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2. How optimistic are you about growth prospects for your own company, for the next quarter, compared to the past three months?

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3. As companies look to return to growth, as well as customer support, are you looking at ways to improve the digital customer journey, at the point of customer acquisition?

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4. Will this mean investment in new technology?

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5. Are you currently making changes, or considering any changes, to any of the following to improve/ accelerate the digital journey for customers, from the point of acquisition? Please tick

  Currently changing Considering changing
Use of credit reference agency products
Use of Open Banking products
Use of e-signatures on credit agreements
Use of eligibility checks
Affordability assessments
Money-laundering checks
Use of chatbots
Use of APIs for omni-channel comms
Fraud/ID checks
Portals to track credit applications
None apply

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6. Are you looking at bolstering and/or improving systems and controls around managing fraud risk?

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7. Please name up to three elements of fraud systems and controls, you’d like to change or improve

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8. Please provide the following information:

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9. Aggregated data collected from this survey will be shared between the survey owners, Credit Strategy and Scrive, for the purpose of an article to portray industry trends and later, a webinar to discuss sector-wide results. Please click Yes here for consent for your answers to be shared (individual answers will not be published anywhere, and are subject to the same non-disclosure Ts&Cs as our award entries).

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