Wednesday, June 23, 2010
Northridge invests in IT ahead of EU credit rules
Northridge Finance has invested a multi million pound figure in a new IT infrastructure in preparation for the forthcoming European Consumer Credit Directive.
Indication
The company, a subsidiary of the Bank of Ireland, said the move was a clear indication of its commitment to the UK motor finance market.
General manager James McGee said the investment is being made to comply with the new European rules which come into force on 31 January 2011.
Opportunity
"This should not be viewed simply as a significant change to current motor finance legislation but also an opportunity for all of us within the industry, to embrace the changes positively and increase the good levels of professionalism, which already exist," he said.
The company will be offering workshop training to its intermediaries on the new directive.
DATED: 23.06.10
FEED: MT
