Ideally, technology portals should be able to accept applications online and revisit those saved applications whenever the customers choose to. This provides consistent and seamless service for the customer: and maintains the sale for the lender regardless of where the customer applies.
IFT AT A GLANCE
IFT offers a team of highly-skilled, outsourced agents with deep knowledge of the lending industry, including complex compliance and regulatory statutes, who can seamlessly integrate with a lender’ s existing team.
The company can onboard lender clients quickly and function as a virtual call center, in addition to handling duties such as collections, long-term loan management, or inside sales.
-- Number of agents – 75-plus
-- Volume- over 1 million customer contacts of various kinds
-- Inbound / outbound split- 40 %/ 60 %
-- On-premise / home office split- 90 % remote workforce
-- On-premise location( s)- 10 %
-- Key technologies used- IFT employs a stateof-the-art, AI-assisted technology platform called Ignite, which helps agents effectively conduct tasks and supports quality assurance( QA).
IFT’ s agents work on multiple LMS, LOS, and CRM systems as required. Microsoft Azure is its cloud provider, and it utilizes a full suite of Microsoft tools.
Terms are one of the most important— and most competitive— aspects of lending. Companies won’ t attract activity without favorable terms. Flexibility of terms has bearing not only on whether the customer is able to purchase the car they want, it also impacts the level of risk the lender takes on for that customer.
Customer engagement is probably the most prominent area. A superior experience drives loyalty and satisfaction that extends directly to the brand. Even if the lender has little impact on the sales experience, a borrower will still blame the dealership— and the vehicle maker— if there are problems or unresolved questions in securing the loan.
The ability to solve complex issues for customers can have a considerable impact on engagement experiences.
For example, borrowers who relocate between countries, states, or provinces may require assistance far beyond what an AI chatbot can provide. There are a slew of regulations involved in exporting a financed vehicle from the U. S. to Canada.
If agents aren’ t familiar with this process— including filing an Electronic Export Information( EEI) declaration with the U. S. Customs and Border Protection( CBP) in advance— borrowers may not be able to transfer their vehicle to the new country. In this case, a patient and knowledgeable agent can make the difference between a smooth transition and a nightmare.
" AI-POWERED REPORTING CAN EVALUATE THE PERFORMANCE OF AGENTS TO IDENTIFY THOSE THAT NEED ADDITIONAL SUPPORT. IT CAN ALSO BE USED TO MEASURE QUALITY ASSURANCE( QA)..."
WHAT CHALLENGES ARE YOU SEEING AUTO LENDERS FACE, ESPECIALLY IN THIS CHANGING UNCERTAIN ECONOMY, IN DELIVERING EXCEL- LENT CX THROUGH THEIR CONTACT CENTERS?
A: Operational efficiency is key, especially today since automotive lending is competitive. Companies need to be as cost-effective as possible. The use of technology to drive internal efficiency lowers operational costs.
Automation and use of AI-powered tools help streamline workflows and speed approvals. AI-powered reporting can evaluate the performance of agents to identify those that need additional support. It also can be used to measure quality assurance( QA), to help ensure that customer service remains high.
Automated scheduling tools, integrated messaging, and collaborative platforms are essential to enhance customer care. This ability to cost-effectively automate basic inquiries allows lenders to steer their resources more toward expert agents and supervisors, dedicating those personnel to expediently address more complex issues.
48 CONTACT CENTER PIPELINE