Our vision:
Imagine if you could let your younger members apply for loans via WhatsApp and Viber or just over the phone. Imagine if this new service line was manned by professional trained full time call centre staff. Finally, imagine if all the Credit Union had to pay was for each loan lead that they received.
Our goal is to free your time to focus on serving your members
What is the problem we are trying to solve?
In the Credit Union world we often come across the fact that many of the CUs best marketing efforts are not being linked directly to new loans being generated. Marketing efforts are often focussed on generating likes on Facebook pages, followers on twitter, etc.
Credit Union loan growth is often stalled, in other Credit Unions it is only growing slowly. In many cases Credit Unions are not connecting with members in the key 20-35 year old demographic.
What do we propose?
We will drive pre-qualified loans to your loan officers. These loans will be partially processed, with all standard backup material collected, including proof of income slips, bank account statements, AML documentation, etc. All member data will be passed securely to your loan officers to make the lending decision. Once the loan pack is finalised, we shall not hold any member data on our own servers.
We shall provide a shared contact centre using the latest most popular communication apps (Viber / WhatsApp) to make the loan application and data submitting process hassle free for your members.
We shall manage the promotion of this new service for your members via both posts and blogs on your social media sites. If you do not currently have social media sites, we shall be able to help you set them up.
How will it work?
Our expertise is in outbound call centre assignments. In addition we do marketing promotion work for a number of clients in a variety of sectors. By combining our experience of both these areas, we proposed to help Credit Unions in growing their loan books. We have a shared service contact centre in place with Viber and WhatsApp numbers in place, in addition to a standard national numbers.
Our partner Credit Unions provide us with access to their social media platforms. We then publish a number of posts each week promoting the Credit Union and trying to encourage members to think of their Credit Union first when they are looking at loans. A core part of this campaign will be to highlight to members the easy ways in which they can now apply for loans via Viber / WhatsApp or via a phone call. In addition, we provide all partner Credit Unions with printed promotional material that they can use in the Credit Union offices and in circulations such as member balance statements and AGM invitations.
Your Credit Union member then contacts our call centre via WhatsApp or Viber. Our team then goes through a standard loan application template with the Credit Union member. This call is usually recorded with the member’s permission. The Credit Union member is then advised of the documentation that they will be required to submit. This data is standard for all credit union members.
There are a number of methods of submitting this information, but we have found that data submission via WhatsApp and Viber works very well as the data is end-to-end encrypted and the process is very easy from a member point of view.
Once we have compiled all the data, we prepare a loan pack for your loan officer. This pack will contain all the data provided by the member. The data will be transmitted securely to a shared secure cloud server. The lending decision will then be left to the loan officer.
At each month-end, a reconciliation is compiled of the loans that were generated for the Credit Union and the Credit Union shall be invoiced for the appropriate amount, with payment taken via Direct Debit.
How much will it cost?
We believe that this service will generate significant additional loans for your Credit Union. Therefore, during the launch period, the first 20 Credit Unions to sign up to this service will be as follows:
Commission per loan generated: €50 (Ex VAT)
Monthly contribution to online advertising and promotion fund: €50 (Ex VAT)