Close Brothers – Product Innovation of the Year 2022

3:10 pm, October 11, 2022

Knowledge is power and our Product Innovation winner puts data in the hands of dealers to empower their businesses.

Through a partnership with another Car Dealer Power award winner, this year’s winning firm has produced a data tool that provides insight into consumer demand.

And the best bit? It’s totally free of charge to its customers.

Our winners say they value partnership and the results in our survey prove their dealer customers do too.

The winner of the Product Innovation of the Year award goes to Close Brothers for its Forecourt Insight Data tool.

Dealers who use the new tool, powered by Auto Trader data, can expect a better understanding of regional trends, stock inefficiencies and consumer behaviour – and judging by Car Dealer Power survey respondents, dealers love it.

Collecting the award, a jubilant Seán Kemple, managing director, said: ‘Four years ago, I think if you had said Close Brothers being a bank would win an innovation award, people might have had a wry smile at that.

‘So, to see that recognised and all the effort we’ve gone into to building that proposition, it’s a true testament of what we bring to the relationship.

‘It’s [the Forecourt Insight Data tool] free of charge and we bring it to the relationship with our funded dealers – that’s that piece around partnership.

‘It’s a big investment for us and it’s one we have to do to support our dealers – and it’s paying off with this recognition.

‘Again, you don’t often see banks winning an innovation award, particularly ones that have been around since the 19th century!’

Along with launching its Forecourt Insight Tool, it’s been a busy 12 months for the company.

Kemple explained: ‘We’ve developed and released the Innovation of the Year winner, we’ve increased our digital capability, and along with that we’ve introduced new teams to support where we position finance, support the consumer journey and help strengthen that point-of-sale relationship propositions.

‘So, it’s been a busy year for us and we’ve seen record volume going through as well.’