Case Studies
“ Implementing an outbound auto-loan campaign with Velan Info Services enables us to reach customers we might have initially lost and resell them on the benefits of financing
through our corp. By outsourcing the process to Velan, we curtail our staffing expenses while helping members save money on
their existing auto loans. ”
An Auto Loan Company BOOSTS LOAN
VOLUME THROUGH OUTBOUND CAMPAIGN.
Business Challenge
The Client has been committed to serving the needs of its customers, helping them maximize their financial
lives. However, when it came to serving customer’s auto-financing needs, the client saw room for improvement. Like many other competitors, the client wasn’t financing 80 to 85 percent of their customer’s
auto loans. Customers looked elsewhere or were swayed by dealerships to convert approved loans to another lender. As a result, the client’s auto-loan portfolio was steadily declining and customers were not always
obtaining the best rates from other lending sources. Without an indirect lending program to establish reliable dealer relationships, the client began
investigating a more effective method to secure customer’s auto loans.
Velan Solution
The Client approached Velan, to help it launch an outbound auto-loan recapture program that would bring customer’s
business back to the client and increase auto-loan volume. “The key to making the program work for us was having someone who was able to contact members when they were available, get them to commit and apply for a loan on the spot, and then immediately approve the loan,”
states the CFO. “Velan met our staffing needs both during the day and after hours, and they
made the process so easy.” Velan call representatives followed up with three separate phone calls prompting members to recognize the advantages of the client and
offered an opportunity to refinance at a competitive rate with the client.
The Results
The Client’s auto-loan program is consistently growing now with a quarterly outbound campaign through Velan. The client’s ancillary products
are expanding also as a result of Velan’s cross-sales efforts during auto-loan recapture calls. “Velan’s outsourcing service and the knowledge of their call
representatives is top notch,” adds the Client. “They are great to work with,and member feedback has been very positive.
Cara Smith
