14th Feb 2017

End-to-end finance applications over the phone

Today we launched our new Phone Application solution; the most comprehensive of it's kind in the industry.

The new feature allows a telephone sales agent to submit a customer's finance application whilst on the phone and lets them know instantly whether they've been accepted for finance. The customer just needs to review and digitally sign the documentation and the sale can be completed. This closely mirrors the in-store process and allows the merchant to remain in control of the sale, reducing abandonment rates and improving sales conversion.

Richard Shepherd, Head of Product said, “We wanted to give merchants with telephone sales operations as much control as those selling face to face. Being able to tell the customer they've been accepted for finance, instead of just sending them a link to apply, significantly increases the conversion rate.”

Mark Rutter, CEO at Open Study College said of the solution, “We have a twenty person student adviser team who offer advice on professional courses over the phone. Being able to now complete the application fully on behalf of the customer means they feel secure and the process is quick and smooth for them. We can't wait to see more of our phone enquiries turn into enrolments and more importantly more happy students.”

Many telephone finance solutions involve sending an application link to the customer to complete in their own time. This break in the sales process makes things unnecessarily long and there's a high chance the customer won't complete the application and the sale won't be made.

The new phone application feature keeps the 1:1 contact with the customer and guides them through the process to increase conversion. Scripts and an easy interface make it simple for sales agents and ensure compliance.

Our combined innovative technology features mean more and more people can be accepted for finance. For merchants, this further strengthens their omni-channel solution that allows them to optimise sales and maximise sales conversion.