Credit union software for auto loans fuels growth


The defi Team defi INSIGHT, Managed Servicing, X-Business Process Outsourcing

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Call centers are a significant aspect of your business. As the centralized offices that help lenders interact with and support customers, they are essentially the on-off switch to your reputation, growth, profitability, and overall success as an auto lender.

However, these central hubs can get overwhelmed. Large volumes of inquiries are coming in, and other responsibilities are moving to the back burner. It’s a struggle to keep up. That’s why turning to call center outsourcing has become the premium choice for auto lenders everywhere. So, why are lenders swearing by expert call center outsourcing providers to successfully manage their call centers? 

Call Center Outsourcing Benefits for Auto Lenders
Digitalization Call center outsourcing lets borrowers access account statements and current payoff amounts, update contact information, and inquire about account status through email, text, and chat.
Cost Savings Outsourcing your call center services will reduce your operational costs. The cost savings alone have led some auto lenders to choose call center outsourcing.
Scalability You don’t have to worry about increasing your staff to handle fluctuating call volumes. A call center outsourcing provider has the resources and expertise you need to eliminate this problem.
Customer Retention  Personalized white-glove service supplied by call center outsourcing providers will help keep customers and build your brand.

Call Center Outsourcing Benefits: Digitalization

“Technology is the future” has become an irrelevant phrase today. Technology is the present. Nearly every aspect of our lives depends on digitalization, automation, advanced software, etc. It’s become the foundation of everything we do. Why? Because it turns even the most complex tasks and processes into a quick and easy endeavor.

Transforming your processes into a digital experience should be a priority. Remember, the age of technology has come, and customers expect you to keep up. Financial services are costly and require following state and federal compliance carefully. When the process is done manually, it consumes valuable time for lenders and borrowers alike. Without digitizing your services, your operations can be deemed slow, confusing, and inconvenient. 

Implementing forward-thinking technology in loan servicing processes using a provider like defi SOLUTIONS means you have the power to speed up loan processes and provide borrowers with easily accessible information and documents. Lenders need solutions that provide the user experience that today’s borrowers expect, and here’s why. Borrowers can:

  • Set up automatic payments or make one-time payments.
  • Access account statements and current payoff amounts.
  • Provide or make changes to contact information.
  • Inquire about account status through other forms of communication like email, text, and chat.

In recent years, 60% of consumers have reported that automation is their first choice in customer service tasks. Virtually everything can be done with a phone, computer, or another device with the touch of a few buttons, and lenders should take advantage of it.

Realignment: Focus On Efficiency and Cost Savings

If you don’t already have one (or if you do and have a growing loan or lease portfolio and need a technology upgrade), a modern call center requires investment in equipment, operations, and staffing that can be prohibitive. As a savvy business owner, you want to use the latest technology and maintain an expert staff while streamlining processes to keep costs in line and end the fiscal year within your projections.

When your call center services are outsourced, you’re likely to see a reduction in operational costs. Some auto lenders have chosen call center outsourcing for the cost savings alone, but it can serve you in a variety of ways.

One of the most challenging aspects of maintaining an in-house call center is ensuring you have the right resources to meet your business needs on any given day. For example, high call volume days get hectic, and spreading everyone thin to cover all bases leads to rushed, unclear or incorrect responses or apparent attempts to move on to the next customer, which can have negative results—lengthier calls and higher call volume caused by repeat callers.

An optimal call center outsourcing provider offers services that eliminate this issue with resources and expertise, including multilingual staffing support, to handle your peak volumes and customer expectations accordingly. Lenders can have peace of mind knowing they don’t need to scramble to manage changing call volumes with staffing and other office resources. As a result, you’ll no longer have to worry about overworking or understaffing your call center, overhead expenses are reduced, and the money saved can go to other initiatives of your business.

White-Glove Service: Improved Customer Retention

Your call center is the central connection between your business and your customers and, therefore, your reputation. No matter what customers are calling in for, you want formidable staff that can address any subject (e.g., loan services, password updates, or loan terms). Experienced third-party providers act as an extension of your team, providing your customers with white-glove service.

This approach ensures personalization and undivided attention to each customer. People crave speed and an experience that makes them feel heard and catered to on an individual level.

White-glove, white-label service isn’t simple and can be challenging to deliver. defi SOLUTIONS champions the interests of businesses like yours and focuses on helping you build a brand people will love by committing to the following:

  • Creating memorable customer service experiences no matter the inquiry.
  • Offering creative ways to delight borrowers.
  • Following up with customers to show genuine appreciation for their business.
  • Responding quickly and considerately (82% of customers expect an immediate response, or they’ll switch to competitors).
  • Doing everything possible to build loyalty and increase customer retention.

A professional, outsourced customer service team can transform your business into the best version of itself. Their ability to communicate directly with customers and build connections drives your company forward and grows your customer base, putting you well above competitors as the preferred auto lender.

The Bottom Line

At its core, customer relations require strategies and technologies to manage interactions with borrowers. Outsourcing your call center gives you access to these tools, helping you build trustworthy relationships that create loyalty and customer retention, resulting in increased profits.

Remember that maintaining your call center requires various resources that you may not have access to. However, defi’s contact center outsourcing solutions offer these services to improve auto lending services with customer relations at the forefront, along with numerous other benefits.

If you are looking for an industry-leading call center outsourcing and loan servicing provider that offers professional, white-glove service, look no further than defi SOLUTIONS. Our defi MANAGED SERVICING provides a single hub, digital interactions, and intelligent virtual assistants to bring everything together.

With defi MANAGED SERVICES, you can ramp up a new or beef up your existing loan servicing operation with white-label, outsourcing services for:

  • Inbound call handling and fulfillment.
  • Return mail processing.
  • Payment processing.
  • Collateral management title work.
  • Accounting.
  • Cash management.
  • Back-office payment processing.
  • Default management (collections, bankruptcy, repossessions, recovery).
  • Lease maturity management.
  • Remarketing.

defi MANAGED SERVICING uses artificial intelligence (AI) and Contact Center as a Service to boost operations and processes related to auto loans, leases, and leased vehicle dispositions, reducing budgetary expenses and improving customer service.

Getting Started

defi SOLUTIONS is redefining call center outsourcing, loan origination, and loan servicing with end-to-end software solutions that enable lenders to automate, streamline, and deliver. Borrowers want a quick turnaround on their loan applications, and lenders want quick decisions that satisfy borrowers and hold up under scrutiny. With defi MANAGED SERVICING, lenders can improve operations and processes related to auto loan servicing, leases, and the disposition of leased vehicles, cutting expenses through automation and outsourcing services. For more information on what to look for when considering loan servicing companies and how we can help, Contact our team today and learn how our cloud-based loan origination products can transform your business.

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