Research shows that 84% of auto finance companies plan a technology transformation over the next 3-5 years. Industry-wide, legacy systems can’t keep up with new business strategies, processes, and regulations.
This leading captive finance company was stymied by old technology. Staff was spending way too much time chasing down problem customers because they couldn’t proactively identify risky behavior patterns. Systems were siloed, limiting access to customer and changing financing regulation information. The result? Losses from poor collections, regulatory fines, and outsized IT spend.
To future-proof its collections program, the company had to reduce redundant applications, integrate systems, and streamline processes. It needed a global solution, sensitive to North American time, resource, and capability constraints.
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