loan servicing software community bank small business

HOW A CUSTOMER CONTACT BPO CAN IMPROVE AUTO LENDING SERVICES

The defi Team Business Process Outsourcing, defi INSIGHT, Simplifying Processes, Technology

loan servicing software community bank small business

Having a customer contact BPO provider is an excellent tool that allows lenders to increase their efficiency, profits, and customer satisfaction.

At its core, customer relations require strategies and technologies to manage interactions with current and potential customers. These tools help lenders build a relationship that creates loyalty and customer retention, resulting in increased profits. 

Maintaining your contact center requires hiring and training representatives as well as investments in IT infrastructure, software, and facilities which typically isn’t feasible for auto lenders. However, as a white-labeled extension of your staff, defi’s contact center solutions offer these services to improve auto lending services with customer relations at the forefront.

#1 Full Call Center Outsourcing Provides an Open Line of Communication

Excellent communication in client relationships is critical at all stages of a business partnership, from the initial introduction to loan finalization. The more your business grows, the more clients you need to service, and most in-house teams don’t have the resources to keep up with demand.

The best customer contact BPO providers have experienced, highly trained representatives at their disposal at all times that take the pressure of customer relationship management off lenders and their teams. Some of the benefits of having these representatives include:

  • They offer multilingual, premium 24/7 support via phone, email, and online chat.
  • They support a workflow that ensures customer questions, complaints, and requests are resolved and recorded to provide a detailed history of customer interactions.
  • Customers receive timely support regardless of call volume.

defi SOLUTIONS contact servicing operates on a scale and has the resources to accommodate auto lenders and customers. With years of experience in hiring, training, technology investments, and continuous innovation, a competent provider enjoys economies of scale. Meanwhile, the lender gleans the benefits of enhanced customer service and can focus on lease and loan origination.

#2 Customer Contact BPOs Improve Support Quality at Reduced Costs

Having an available representative 24/7 is only part of the solution to improving customer relations. The second most important aspect is the quality of service. It takes expert representatives to handle the vast array of inquiries customers have while simultaneously providing satisfactory resolutions. However, this can be costly.

Maintaining your contact center requires hiring and training agents as well as investments in IT infrastructure, software, and facilities. With technology constantly evolving, regular investments to update systems must be made, expenses increase, and attention to service quality decreases.

An expert BPO provider focuses on customer service and requires staff to undergo regular training in de-escalation and dispute resolution strategies. These strategies allow lenders to enjoy the benefits of improved customer service without investing in training themselves.

Additionally, improved customer service pays dividends. The auto loan industry is one built on customer trust and loyalty. Sixty-nine percent of customers report that support service drives a majority of their commitment to a brand. Working with a provider focused on customer service is the best possible way to take advantage of that demand.   

#3 Data and Analytics Monitor Performance to Increase Customer Satisfaction

Auto lenders should carefully monitor their call volume, handling time, quality, and overall success. A customer contact BPO can track metrics that provide valuable insights through technology-enabled solutions, allowing continuous service improvement. Analytics technology provides lenders with:

  • Simplified data aggregation for statistical analysis.
  • The ability to add new reports promptly and keep all team members informed.
  • Options to customize preloaded reports or build new ones.

Success starts with data. With defi, you can make more informed decisions using analytics to optimize cost-effective development in areas lacking in performance to increase productivity and customer satisfaction.

White-Label Call Center Support That Improves Your Services

When you reach out to a customer contact BPO provider, they closely consult with you to ensure that your core values are reflected in every interaction with borrowers. With services implemented, metrics regarding customer interactions and performance will be analyzed and reported regularly, compared to industry conventions, and used to identify areas for continued improvement. 

Getting Started

defi SOLUTIONS provides white-label customer service, configurable loan origination systems, loan management and serving, analytics and reporting, and a wide range of technology-enabled BPO services. Our experience delivers proven benefits in helping you lower support costs while improving the quality of service. If you’re struggling with the limitations of your current lending technology solutions, take the first step in realizing the benefits of modern technology. Contact our team today or register for a demo.

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