Aldermore has completed its integration with vehicle finance business MotoNovo Finance.
The incorporation aims to provide strategic benefits for both sets of customers.
“With a broader customer base, we can harness the combined strength and energy of our two like-minded organisations to achieve great things for all our customers,” said Phillip Monks, CEO at Aldermore (pictured above).
“We already benefit from similar customer-focused cultures and there is now a real opportunity to build our respective strategies together, armed with the firepower of our parent FirstRand.”
Mark Standish, CEO at MotoNovo Finance, added: “Joining the recently acquired Aldermore family brings us the strategic benefits of greater sustainability through a lower cost of funds and greater diversification.
“MotoNovo will now begin to write new business from Aldermore’s balance sheet, a move that will put us in a far stronger competitive position.”
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