We envisioned a buying experience that was seamless, simple and smart: A mobile solution that could reduce that uncomfortable wait time from about two days to just 15 minutes by enabling the bank’s customers to get their financing decision as soon as they return from their test drive.
Using only a smartphone, the entire sales experience could be vastly improved.
With the mobile auto loans app, customers enter personal data and information about their chosen vehicle to receive a pre-credit analysis. The customer can simulate different loan arrangements based on the overall cost and down payment. Within minutes, they find out if they’re approved and, if so, they can fill out the loan proposal—which is half as much required paperwork as regular proceedings—and close the deal. The app can scan required documents and sort out the payment plan.