The 25-year-old Rohit has been started working at a law firm a few months ago. And after some weeks, he realized that he need to travel in the city every day as his job required.
As he always wanted a new bike since college, so he thought this is the right time to buy so he went to the nearest dealership on a weekend.
There at the bike showroom, he learned about a quick online process, ahh, he thought, relief.
He was expecting the same, to get a quick loan, as he doesn’t want to waste his weekend & next week in too much back n forth in the process.
The dealer agent gives him a list of documents to be uploaded & verified. Rohit quickly brings all the documents & then the agent initiates the initial loan process. One by one he starts to upload & verify documents on the loan app. And then after the initial process, the request was sent to the credit team, for further verification.
But sooner than expected, Rohit realizes that it’s gonna be a much longer process than expected, and now he is feeling distressed because he wasted his weekend and nothing was accomplished.
After the 1st stage of document submission & profile creation, he left the showroom, a little distressed. A little bit annoyed as he has to come again.
Like Rohit, many other Rohit’s could have left the showroom, because of the lengthy, time-consuming process. Thinking about what use of innovation & automation. When it can’t save your time, and energy & make your life easier.
As a result of this entire story, the customer experience was lowered, and you lost the lead. Is it really necessary to make this process too lengthy & time-consuming?
What is Lending Automation?
All phases of a loan process can be digitized and automated using automated loan processing systems. But if you want to build an experience for the next-gen customer like “Rohit”, you need something more than just an app.
Are you present where your customer is? Will your next-gen customer prefer to download a separate app? Is your customer prefers to use a special app all the time? Does the app work super fast & take little space on phone?
Only having a loan app is not sufficient.
Media strategy is to understand which media channel is preferred by your customer, what they are seeking & possibly spend much of the time.
Well, in this case, WhatsApp is the Answer.
There are 550M WhatsApp users in India alone. Making it the leading country in terms of audience size.
55% of users are 18-34 age. The next-gen or the social generation customer.
WhatsApp Lending, basically, a chatbot on WhatsApp is software running on the messaging app WhatsApp. Chatbots are powered by artificial intelligence rules.
This Diwali, gear up your lending experience and lend more in less time, with our WhatsApp Fintech solution. WhatsApp Lending ChatBot is ready to deploy that lets you start your WhatsApp ending journey in just 2 weeks.
Experience WhatsApp Lending Journey
Download the video Here