Market leader in vehicle finance had challenges with existing process: combination of paper + app driven process. Key issues were low salesforce productivity, poor user experience, compliance issues and limited ability to make process changes.
All field processes from lead to submission for a total of 500+ fields (customer details, credit analysis, field & vehicle inspections & dealer payouts). Identity documents were to be parsed and 20 integration points were to be worked on with enterprise and external services.
Key design principles:
- Reimagine process to create single view & execute complex rules – with ability to manage multiple borrowers & vehicles
- Ensure best-in-class user experience with ability to handle low mobile network environments
- Flexibility to accommodate flow changes and engage with variety of external integrations
- Implementation within 60 business-days
- Minimize IT involvement from customer to ~0.5 FTE around interfaces
- Autonom8 configured the platform with weekly review of UX and business rules, with a variety of client stakeholders
- The product was hosted on cloud to interface with client’s Loan Management System
4xReduction in cycle time.
50%Lift in efficiency
15%Rise in customer satisfaction.
- Effort reduction of 60-65% across the sales agents and back-office.
- Cycle time averaged at 24 hrs (well below SLA of 48-72 hours)
- Improved compliance posture (with time and geo-stamping)
- Greater flexibility and agility with weekly enhancements
- Significant improvement in agent delight and end-user experience
- Moved a lot of the back-office activities to front office – leading to better loan closures, ability to upsell / cross-sell
- Ability of IT to respond faster to Business needs.