Two tech heavyweights have joined forces to develop the next generation of a leading FinTech platform – doubling the collective development department's headcount from 10 to 20.
Leeds-headquartered DealTrak – a technology firm which helps thousands of UK car showrooms to manage the finance and insurance (F&I) side of their business – has joined forces with international software engineering firm, Godel Technologies, to develop the next generation of its platform.
Integrated with 200 partners and counting, DealTrak passed more than 3.6 million proposals through the platform in 2018 – representing potential transactions totalling £9.6bn. By augmenting the existing the capabilities of the system, that number is expected to rise by 40% over the next two years.
Through its partnership with Manchester-based Godel – whose software development centres of excellence are based in Belarus – DealTrak expects that, once launched, the software will enable motor dealers to liaise with more customers each day and handle increased volumes of F&I transactions. In turn, this could lead to an uplift in sales and reduced operational overheads.
Ben Moore, IT Director at DealTrak explained: “Used by over 1,100 motor dealerships, the current iteration of our platform is already renowned for significantly improving operational efficiencies within time-poor dealerships. But we want to take that to the next level.
“The FinTech landscape is shifting rapidly, and there’s huge pressure on the market to keep up. Our goal is to remain ahead of the curve and, by partnering with Godel, we’re reinforcing our position as a trailblazer within the F&I sector.”
Martin Hill, MD of DealTrak added: “This is an incredibly exciting new chapter for DealTrak. There have been a number of incremental improvements made over the years in line with the rapidly-evolving landscape.
“Following a review of the market and what we predict is a bright, but challenging, future in our space – and having seen some of the fantastic work Godel has produced within the tech space – we believe the time is right to commence work on the next generation of the DealTrak platform.
“From the outset, it was clear the team wanted to work with us in the long-term as a true partnership – and not simply as a ‘coding bodyshop’ – in order to add value to our software development process.
“We employ some of the north of England’s brightest tech talent,” continued Martin. “And we bolster that with access to some of Europe’s leading lights through this exciting new partnership. In turn, this will ensure we continue to deliver the very best service to our dealer, broker and lender portfolio.”
Paul Green, CCO at Godel said: “We are working in close partnership to augment DealTrak’s in-house development team on the AWS platform, using PHP as the primary development language. In turn, this will enable the team to deliver new product capabilities – bringing new integrations to market quickly to satisfy customer demand.
“The DealTrak platform is synonymous with the automotive F&I industry, and we’re delighted to be working with the team towards what will undoubtedly be another game-changing piece of software.”
Scheduled for release in early 2020, the launch will also boast several new features, delivered though a seamless, automated user journey.