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Deko will support Wheelbase to accept more customers’ retail finance applications.
Deko, a leading multi-lender finance provider, has announced the addition of Wheelbase to its roster of clients, enabling the latter to deliver flexible payment options, benefitting both the business and its customers.
Boasting more than 25 years of experience in the industry, Wheelbase is the UK’s largest provider of alloy wheels and performance tyres, and a leader in manufacturing custom fitment alloy wheels. Wheelbase sought a partnership with Deko due to its track record of improving customers’ acceptance rate for retail finance. This rate remains low across the automotive industry as a whole, but Deko has now helped Wheelbase increase its own figure by more than 10%.
Incorporating multiple lenders into each customer journey has ensured that far more customers have their finance applications accepted, meaning fewer shoppers are now abandoning their baskets, even against the backdrop of rising living costs. This, in turn, has enabled Wheelbase to forecast more optimistic growth figures for the year ahead, with sales projected to increase significantly thanks to Deko’s multi-lender platform.
Wheelbase’s partnership with Deko has also achieved the company’s aim of streamlining applications for finance from their customers’ viewpoint. Wheelbase can now offer the vast majority of customers at least one finance option within five minutes, which is the average time taken to complete the application and receive an instant response from Deko. This mirrors Deko’s efficiency at onboarding, with new merchants such as Wheelbase being fully approved for a finance facility within 72 hours.
Further benefits of Wheelbase’s partnership with Deko include the savings made from no longer having to manage the after-sale journey manually, such as amending initial orders and administering refunds. By streamlining the entire retail finance journey from beginning to end, Deko’s platform improves the checkout experience for both the merchant and the consumer.
Having recently grown its stable of lenders, which in turn attracted Wheelbase, Deko plans to continue this growth with the aim of providing flexible finance to more merchants across multiple sectors.
Mike Martin, Managing Director of Wheelbase, commented: “Partnering with Deko has certainly improved our sales. For a substantially more competitive fee than our previous provider offered, we have become far more empowered to convert customers’ purchases, and this increased revenue has helped improve our growth projections. We could not be happier with the impact it has had on our business.”
Melanie Vala, Chief Commercial Officer of Deko, said: “Wheelbase is one of the key players in the automotive parts industry, and we are delighted to help them convert more browsers into buyers with our unique multi-lender payments solution. We look forward to a partnership that will help yet another business and its customers navigate the rising cost of living.”
