MotoLease LLC places a majority of its investments into the frontend and backend operations of helping the people it serves, President and Chief Executive Maurice Salter told attendees at PowerSports Finance 2017 late last month.
For MotoLease, the focus on people is because powersports finance is a “customer service industry,” he said, and in order for any organization to succeed, a hefty investment in quality staff training is a necessity.
MotoLease has been cross-training its employees to perform various tasks so they are better educated and understand what other employees have to do. “We are not perfect, we have our share of complaints,” Salter said, adding that the company focuses on training to better prevent, address, and resolve complaints.
“It’s about customer service, it’s about the way you treat them [in order] to succeed in what we do, because we all have to succeed,” Salter said. “If someone doesn’t succeed it hurts everyone, so you want to make sure industry succeeds overall.”
To that end, Salter offered a call to arms for industry participants to work together to help the industry grow — specifically as it relates to compliance and fraud.
“Everyone thinks they have secret sauce on credit, and I get that, but there are some things we do that we share together,” Salter said. “Compliance, fraud, everyone has same issues; it may be different manifestations but it’s all the same problems. There are smart people out there doing bad things, and you have to be on top of that.”
When it comes to compliance, for example, “there isn’t a person in the room who doesn’t think about the CFPB,” he said.
The industry should work together to come up with and use a common core compliance manual, he advised. “Everybody has their special compliance [practices] that they have to do in their own area if you are a financier, versus dealer, versus this or that — but there is a core set of things that we all have to worry about,” he added. “… I think a common manual for the industry would be great. If you got a letter that [the CFPB is] knocking on your door, if everyone submits the same core compliance manual to them, what are they going to do?”
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