Auto Dealers – One each from the top three OEMs
Auto dealers facilitate loans to their retail customer through lender partners. This value add service is being carried out by the dealers for over a decade. Facilitating loans at the point of sale is now a very common feature across purchase categories. However, the point of sale / retailers haven’t moved along with changing times in automating the loan counters leading to delay / loss in sale and limited choices of loan offers to customers.
LBIT with its first of its kind platform has brought all the dealer lending partners on to a single platform. Once the customer data is flown from the dealer management system into LBIT platform, it quickly is funneled into the proprietary lender rule engines to arrive at customer eligibilities and offers. Dealer and customer will then pick a lender that best matches the customer requirement and pushes the loan application to the respective lender through a secured API tunnel for real time approval, thereby significantly cutting down the time for approval.
With the help of LBIT customer acquisition platform, the dealers are able to quickly close the sale transactions besides giving
customers more loan offers to choose from, all on real time basis. LBIT platform is also used by the dealers to reconcile the
lender receivables. The platform also brings in standard features viz., sales CRM, lead scoring analytics, branch-wise & location-wise monitoring, sales & loan dashboards. LBIT also comes with a cutting edge customer engagement platform,
where the dealer can engage the customer on the loans space. In a nut shell LBIT equips the dealer with all loan service tools,
which are conceptualized and built on a human-lite and easy to use tech high features. Being operated for around an year, the dealers acknowledged that the loan counter efficiency in terms of speed and revenue has improved by almost 30-40%.
Builders / Property Developers – Two Cat-A builders with prestigious projects
Builders / property developers wish to spend their energy and resources in quickly finishing and exiting projects to move on to their next project. However, irrespective of the track record and categorization of the builder, they have to pass through the grind of spending valuable time and resources bandwidth in getting project approvals for retail finance and later for loans to their retail customers. They have to do this for each and every project they execute without any exception.
LBIT took the mandate from the two prestigious developers for an end to end services of getting project finance approvals from its vast network home finance companies. Added to this LBIT through its first of its kind platform has brought all the lending partners on to a single platform. LBIT manages the loan desk at the project office and is able to funnel customer data into their proprietary lender rule engines to arrive at customer eligibilities and offers. Customer will then pick a lender that best matches his/her requirement to push the loan application to the respective lender through a secured API tunnel for real time approval, thereby significantly cutting down the time for approval and most importantly releasing the builder bandwidth to focus on their core activity.
LBIT subsequently engages with the the customer through a cutting edge customer engagement platform throughout loan life cycle and suggest customer arbitrage opportunities from time to time. Being operated for around an year, the builders acknowledged that the loan counter efficiency in terms of speed and revenue has improved by almost 30-40%. Customers are delighted with the engagement tools provided by LBIT and rely completely on LBIT for managing their loan portfolio to reduce interest cost.