Astounding Customer Experiences
Automating manual processes is by far the biggest opportunity available to asset finance lenders. Automation allows a better, more sophisticated customer engagement. Plus, it provides an instant audit trail for mandated compliance records and ultimately reduces the cost of sales.
The customer gets simplicity, seamlessness, and speed; the lender and lessor get ease of compliance and record-keeping. However, it’s important for lenders to remember that automated processes should make things simpler, not remove personal involvement. While digital is the enabler, deeper and sometimes more frequent contact with the customer remains the goal.
A frictionless interaction
E-contracting and e-signature, as examples, have revolutionised the onboarding process. Your customers no longer need to review and sign long paper documents, by integrating e-contracting and signing platforms into your process you can finalise a deal as it is happening, from the shop floor to the customer’s living room.
The right technology can identify the customer, and even check that they have read the whole document, increasing the rates of completion and acceptance. No paper documents are sent, increasing the speed and security of transactions.
Customers today do not want to have to go into their bank, provide paper copies of identification documents, or interact with a helpdesk via phone. Instead, they want a frictionless, highly secure, end-to-end experience where the point of contact from the finance provider is about the best possible deal, rather than problems with their onboarding.
The ability to offer customers digital signatures and identity verification benefits everyone involved. Cloud Lending provides these capabilities and has multiple integrations to more than 100 APIs to help make any customer experience frictionless.
We hope you found this blog insightful. Read the others in our series, Asset Finance, the Digital Age, and Readying for Success: