auto loan servicing


The defi Team auto loan origination software, Automation, defi INSIGHT, defi MANAGED SERVICING, Digitalization, Technology

auto loan servicing

Fincos want to understand customers better and, therefore, better meet their needs, maintain satisfaction, and create a close, long-term relationship with them. The best way to make these connections is typically through the inbound process, which means customer service. 

The inbound process is where customers call in to get their queries answered and issues resolved. More often than not, the number of incoming calls is like a tidal wave—all-consuming and impossible to control. However, the managed servicing BPO inbound process is a Finco’s saving grace.

Three Important Parts of a Managed Servicing BPO Inbound Process

Today, 59% of companies cite outsourcing as a cost-cutting tool, but 47% turn to managed servicing BPO providers because of their ability to quickly solve capacity issues. A call center is a breeding ground for customer issues and complaints, and managing the process is a responsibility that is best appointed to experts with the system and staff. If you’re wondering how a managed servicing BPO can handle the inbound process for you, let’s explore the following criteria.

#1: Customer Care

You already know that your customers are at the top of the list for your success. It’s the foundational rule of any business. Customer care involves looking after customers to ensure a pleasant interaction and customer satisfaction with your services. Their needs must be listened to, and they should receive help in finding the right solution. 

With an increasingly intense inbound call volume, staff may lack the resources or manpower to meet this agenda. That’s where the experts come in. Maintaining an in-house call center requires hiring and training agents and investments in IT infrastructure, software, and facilities. defi SOLUTIONS has these necessary resources to streamline the inbound process into a smooth, systematic approach. 

#2: Help Desk Support

Customers turn to the help desk for more information and support related to services, such as loan and lease care, to gain assistance in troubleshooting, answer questions, and solve known problems. Your representatives must always be 100% accurate and efficient with the solutions they provide, but that’s not always feasible when they’re overwhelmed, and hiring and training more staff isn’t an option.

As a white-label extension of your service, defi SOLUTIONS’ representatives, working on your behalf, employ a proprietary communication model called defi Customer Connection. This model provides a framework for all the qualities customers expect from your support team, including:

  • Personalized communications
  • Multi-language support 
  • Meaningful, results-driven messaging 
  • Effective resolution to their lease or loan issues

Your help desk support is dedicated to your customers, and our contact support managers are dedicated to you. We work closely with teams to consistently represent your brand and values and build a positive relationship with your customers.

#3: Collections and Back-Office Processing

The front office handles the most visible aspects of the business, such as marketing, sales, and customer service. However, your customers don’t see all the additional work happening behind the scenes, and it can impact their opinion of your organization as one they want to continue to do business with. The truth is, all the core responsibilities and back-office tasks are required to maintain the inbound process, and a smooth inbound process is required for your staff to address all these responsibilities. It’s a precise cycle that an in-house team might struggle to accommodate.

Fortunately, switching over to a managed servicing BPO inbound process can alleviate the pain points in the cycle. When providers like defi SOLUTIONS come into play, they can provide numerous services to relieve the burden, including:

  • Complete back-office support for both auto loans and leases
  • White-label customer service
  • Collateral management title corrections, follow-ups and releases
  • Accounting, cash management, tax filings and tolls management 
  • A nationwide remarketing network and team of professionals to maximize the resale value of your vehicles
  • And, of course, automated call centers

It’s safe to say that a managed servicing BPO inbound process is an excellent solution for Fincos everywhere struggling with maintaining customer service, but it is imperative to choose the right provider. Should you find yourself choosing the wrong provider, you may experience a variety of challenges, including:

  • Loss of Control: When asking another company to take over processes as critical as customer service, concerns arise. What if their quality of service is less than acceptable? Are their staff as trained as they claim? Are they handling customer queries better than before? If you end up answering no to these questions, you are very much at risk for your customer satisfaction to plummet—along with your reputation.
  • Loss of Visibility: When turning to outsourcing, you’re not physically working with the provider. This means you can’t monitor their performance as closely as you may hope, and if they aren’t willing to be in constant contact with you, that’s a huge red flag. Physical distance can create anxious moments with the wrong managed servicing BPO provider, from adhering to processes to monitoring performance.
  • Unsafe Data Handling: Allowing a third party to view and monitor your customer data or business financial and performance data can be very uncomfortable. Your provider must have systems in place that are proven to protect your sensitive information. Is it safe from hackers? Are they requesting data from all your processes?
  • Mismatched Fit: One of the most important qualities your provider should have is the ability to represent your brand exactly how you want. There needs to be a connection in the working relationship that builds trust and confidence that you’ve made the right choice. You’re handing over customer service, not just allowing someone to field issues. With the wrong provider, you’ll experience a disconnect and likely find they have little to no concern for your brand values and reputation, disrupting your brand reputation and business as a whole.

The challenges you can face with the wrong managed servicing BPO provider are extensive, so choosing wisely is crucial. You need to focus on your business and customer needs. Your customer base is constantly growing, but your call center is at max capacity. You’re looking for an affordable solution to adjust and improve customer support. Your next logical step is to contract a professional third-party provider.

Getting Started

defi SOLUTIONS partners with finance companies, captives, credit unions, and banks to help lenders improve their processes and service efficiency and quality. If your in-house call center isn’t meeting your customers’ needs, we have the managed servicing inbound process for you. Contact our team today to learn how you can benefit from outsourcing your business call center activities or register for a demo.

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