antander Consumer Finance to be shareholder of Vinturas

Jan 22, 2020   Supply Chain

Vinturas has added Santander Consumer Finance as shareholder. With the accession of Santander Consumer Finance to the consortium of leading automotive logistics service providers, Vinturas will be able to offer its digital services to a large automotive customer base in Europe.

Vinturas, established at the beginning of 2019, has taken an important step in the development of its network and services with the addition of Santander Consumer Finance, the consumer finance arm of Santander Group. The consortium members now cover all key markets in Europe. Its digital platform will manage more than 12 million vehicle movements per year and has access to more than 20.000 dealers in Europe. 

 

Vinturas is the leader in standardisation of digital processes in the automotive finished vehicle industry, an industry which is still largely paper based. Digitalisation and standardisation will result in significant process improvement for customers of Vinturas. Additionally, it will lead to more transparency and an improved customer experience as Vinturas provides end-to-end track and trace functionality for every new vehicle leaving the manufacturing location on its way to the dealer. With Santander Consumer Finance joining, Vinturas will explore new business models in the finance and insurance business.

 

Vinturas CEO Jon Kuiper said: “With Banco Santander, through Santander Consumer Finance, now joining the consortium, Vinturas has strengthened its position as the leading digital platform in our industry. Santander Consumer Finance, with a strong customer base in the automotive industry, will bring additional possibilities to develop new digital services to support our automotive customers in the transition they are going through.”

 

Santander’s VP and Innovation and Strategy Director at Santander Consumer Finance Juan Manuel Roldan Carretero added: “Santander Consumer Finance, with its reach in the automotive industry, and Vinturas are a perfect match. Santander Group is a global leader in the development and application of blockchain technology. With the leading position of Vinturas in the finished vehicle supply chain in Europe we see significant opportunities to create value for all our customers in the automotive segment using innovative blockchain technology.”

 

Vinturas has developed a blockchain based platform providing digital services to OEM’s, fleet-owners and dealers. The platform has been developed by IBM, technology partner of Vinturas. The platform is currently tested with main customers and will go to production early 2020.

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