First impressions count for a lot, especially in a competitive market. As financial services companies have found to their cost, the customer onboarding process can make or break a customer relationship. Get onboarding right, and it’s the perfect opportunity to win a customer’s loyalty. Get it wrong, and customers will become frustrated and walk away. Today’s consumers want to sign up for financial agreements quickly and conveniently. Either online, at home, or face-to-face with an intermediary. In two recent studies, researchers found that 83% of UK consumers are comfortable signing financial agreements electronically if it means receiving funds faster1, and that 41% of customers would be happy to buy a car through an entirely online process2.
First impressions count for a lot, especially in a competitive market. As financial services companies have found to their cost, the customer onboarding process can make or break a customer relationship. Get onboarding right, and it’s the perfect opportunity to win a customer’s loyalty. Get it wrong, and customers will become frustrated and walk away. Today’s consumers want to sign up for financial agreements quickly and conveniently. Either online, at home, or face-to-face with an intermediary. In two recent studies, researchers found that 83% of UK consumers are comfortable signing financial agreements electronically if it means receiving funds faster1, and that 41% of customers would be happy to buy a car through an entirely online process2.
More than one-third of all motor finance agreements executed in the UK now pass through the Dealflo financial services automation platform, the company has revealed. The platform allows motor finance companies to digitise their end-to-end customer agreement process, including the use of e-signature technology.It also collects evidence at each stage of the transaction to prove that agreements have been executed to fully compliant standards. Among its recent customers is Santander Consumer, which signed up to the system to underpin its motor finance operations.
More than one-third of all motor finance agreements executed in the UK now pass through the Dealflo financial services automation platform, the company has revealed. The platform allows motor finance companies to digitise their end-to-end customer agreement process, including the use of e-signature technology.It also collects evidence at each stage of the transaction to prove that agreements have been executed to fully compliant standards. Among its recent customers is Santander Consumer, which signed up to the system to underpin its motor finance operations.
Leading car finance broker DSG Financial Services originally began looking at automated e-signing and verification system as part of a move to set up its own lending function alongside its existing broker offering. “We wanted to make sure the lending process was as efficient as possible, given that lenders and borrowers are increasingly moving to online operations. Our first thought was to implement an e-sign function. But once we evaluated Dealflo’s solution, we saw we could do a lot more, by creating a multi-lender facility which automates processes end-to-end and which would deliver significant additional benefits,” explains DSG’s CEO Richard Hoggart.
Leading car finance broker DSG Financial Services originally began looking at automated e-signing and verification system as part of a move to set up its own lending function alongside its existing broker offering. “We wanted to make sure the lending process was as efficient as possible, given that lenders and borrowers are increasingly moving to online operations. Our first thought was to implement an e-sign function. But once we evaluated Dealflo’s solution, we saw we could do a lot more, by creating a multi-lender facility which automates processes end-to-end and which would deliver significant additional benefits,” explains DSG’s CEO Richard Hoggart.
This month (February) UK’s Bacs introduced changes to the way in which paperless direct debit mandates are treated. To help their clients understand the changes better. Dealflo has written a White Paper: Financial agreement automation and paperless direct debit mandates - general guidance. The paper offers a set of best practice guidelines with the intention of steering financial institutions towards adopting practical automation solutions that mitigate DDM, legal and compliance risk.
This month (February) UK’s Bacs introduced changes to the way in which paperless direct debit mandates are treated. To help their clients understand the changes better. Dealflo has written a White Paper: Financial agreement automation and paperless direct debit mandates - general guidance. The paper offers a set of best practice guidelines with the intention of steering financial institutions towards adopting practical automation solutions that mitigate DDM, legal and compliance risk.
