Lenders Ramp Up Communication Channels

LAS VEGAS — Utilizing technology to streamline processes helps build closer relationships with dealers and consumers — this was the message from CEOs at the recent AFSA Vehicle Finance Conference.

“Getting an answer quickly to our customers frees up our lenders and salespeople to have a more in-depth discussion-like flow,” said John Hyatt, head of indirect lending at U.S. Bank. “It allows us to be more available when they really need us, like if they are having a problem with a deal, [we can] take a deep dive to address their needs.”

Multichannel communication and electronic platforms are also a top priority at American Honda Financial Services. “I think of myself, going to a website where they force me to use just one channel of communication,” AHFS Senior Vice President David Paul said during the same panel. “That makes a customer not want to contact you, so multichannel customer service capabilities is a huge initiative for us this year.”