Auto Lenders Must Deliver More Digital Experiences to Attract and Keep Customers
CORAL SPRINGS, FLORIDA, October 23, 2019—Auto lenders can build strong relationships that lead to repeat business and referrals if they adopt more digital communications options, according to Keep Pace with Auto Finance Communications, a new white paper from Nordis Technologies, an innovator in customer communications management (CCM) and electronic bill presentment and payments (EBPP) solutions.
The white paper discusses how auto financing firms can improve the customer experience by accommodating preferences for how and when vehicle buyers receive bills and make payments. Auto lenders have been challenged in delivering faster, easier and more personalized customer experiences, especially digital ones, opening the door to competition from direct-to-consumer financing competitors, peer-to-peer lending and shared leasing and car subscription services.
“The most common auto loan term is now six years, so no matter how great the initial lending process, the real heart of the customer relationship is recurring billing and payments,” said Ronnie Selinger, founder, CEO and president of Nordis Technologies. “Optimizing those touchpoints is essential to creating a positive relationship and building loyalty,” he said.
Technology for managing customer communications and enabling electronic bill presentment and payments gives companies the ability to offer the greater choice and convenience that car buyers increasingly expect. Those options include more online and mobile channels such as email, text, mobile wallets and payment portals, the white paper explains.
The white paper also discusses how auto financing companies are facing federal regulatory changes for compliance communications such as adverse action letters and how CCM technology can help lenders quickly adapt. The technology can enable them to stay compliant and easily shift to more digital communications when permitted. From a CCM platform, auto lenders can update disclosures and other consumer communications in minutes and archive records to meet evolving state and federal regulatory requirements.
For more insights, download the free white paper, Keep Pace with Auto Finance Communications. To discuss the white paper, connect with us at the Auto Finance Summit 2019, being held in Las Vegas, October 28 – 30.
About Nordis Technologies
Nordis Technologies is a leader and innovator in providing technology solutions to solve customer communications management and payment challenges. With Nordis’ patented, cloud-based Expresso® application and product suite, including ExpressoPay® and ExpressoWallet®, businesses can quickly and efficiently create and manage critical print and digital communications and payments. Nordis delivers an end-to-end solution, with state-of-the-art document production facilities that produce and mail paper communications managed through Expresso. Privately held Nordis Technologies is based in Coral Springs, Florida. For more information, visit nordistechnologies.com.
For Nordis Technologies
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