Propel, one of the UK’s largest independent finance houses, has launched Propeller, a revolutionary new online asset finance portal developed to power vendors’ sales and redefine the customer finance journey.

Propel has invested over £1m in the latest technology to engineer a best-in-market digital journey, enabling UK based vendors to offer their customers asset finance products effortlessly at point of sale. The new technology allows vendors to guide their customers through a seamless process from quote through to credit approval in a few simple steps, meaning the relevant documents are swiftly generated and payments to vendors can be made within minutes once on delivery or acceptance by the customer of the goods. The technology will enable more SMEs to finance equipment quicker, easier and more conveniently than ever before.

The Propeller portal revolutionises the end-to-end vendor finance process by offering fast-track, automated processing, instant quotes, immediate auto-decisions, document generation e-sign acceptance and real-time management. Designed with vendors’ sales teams in mind, the platform reduces the time spent on finance paperwork, enabling vendors to focus on driving more sales, whilst also providing customers with immediate access to the business-critical equipment they need to power their growth – thus resulting in a simple & effective buying / sale cycle.

“At Propel, we are determined to transform SMEs’ access to much needed funding for capital investment. Propeller is our most advanced, integrated and comprehensive vendor finance system to date and represents a leap forward in respect of the enhanced user experience, connectivity and functionality it brings. Through innovations such as this, together with a brilliant service, we are shaping the future of finance partnerships,” says Mark Catton, Propel CEO.

James Taylor MD of Ice Communications, says: “Propel’s new asset finance portal not only gives you easy online access and heaps of support, it really does help you process faster sales. It’s fantastic to work with a company that continually think of innovative solutions for its vendor partners. Propeller allows us to do business quickly and efficiently so we can focus more on productivity and performance.”

Propel has a strong history of technology innovation within the vendor finance marketplace, helping more than 40,000 businesses across the UK to access asset finance to acquire business-critical equipment quickly and easily. Recently, Barclays Business Banking announced its partnership with Propel to offer equipment and vehicle finance to one million of their small and medium sized (SME) customers via the new online technology platform.

As well as investing to bring forward the next generation technology, Propel has also significantly enhanced its team to support its ambitious growth plans through securing the appointments of Stewart Good as Head of Vendor Finance, Steve Shuttleworth & James Pigrem as Senior Account Managers and Daisy Johnson as Account Manager.

To find out more and to gain access to the new Propeller portal, visit: www.propelfinance.co.uk/technology/about-propeller/