Lightico Customer Guide: Servicing Your Auto Finance Customers During COVID-19

Lightico Customer Guide: Servicing Your Auto Finance Customers During COVID-19

As a Lightico customer, you have access to a set of features and tools to help you continue to service your customers during COVID-19. Learn about them here. Lightico is here to support you as you navigate your business and customer needs during these unprecedented times. This guide is meant to serve as a resource where we’ll share features that can address potential Auto Financing challenges brought on by social distancing, staff shortages, staff working from home and communications barriers. We’ll describe the most common use cases that we are seeing during this period and how to use Lightico’s features to implement them. These recommended features come standard with Lightico. Please contact your account manager or support if you need assistance in using these features. If you are not yet a customer click here to book a time with an advisor to see which options are available for your company. Lightico adheres to the strictest regulatory requirements and enables your business to do the same, easily - whether your staff are working from home or from the office. For more information on our commitment to your business continuity during COVID-19, please see our statement here. The most common use cases that our Auto Lenders are encountering during the pandemic are:

1. Payment Deferments, Loan Modifications and Lease-End Extensions ACH Payments to Guarantee Loan Repayments
2. Stip and Document Collection to Ensure Compliance and Prevent Fraud
3. Credit Applications
4. Collecting Customer Consent on Terms and Privacy Notices

 

1. How to Collect eSignatures from Customers, Co-Signers and Guarantors on Payment Deferments, Loan Modifications and Lease-End Extensions

Due to the financial uncertainty during these unprecedented times, some auto lenders may want to offer their customers the ability to defer payments or modify their loan repayment terms. With Lightico, the related paperwork can be completed and signed quickly and effortlessly via the customer’s mobile phone - no printing / scanning / mailing required. Many customers have reported over 90% eSignature completion rates. Here’s a step by step guide to collecting eSignatures on forms and documents remotely in minutes: Collecting eSignatures - Agent Screen:

1. Save your PDF document or form to your file browser
2. Upload your PDF to Lightico by clicking on the attach icon on the home screen. Your document will open in a Lightico page with a toolbar ready to use.
3. Click and drag a signature element to the required place in the document. Additional signers can be added easily.
4. Send over to the customer for signing.
5. Customer receives the document instantly and can review and sign with a simple finger swipe.

The customer will receive the document in your brand and follow the following simple steps. This can be done immediately from their cell phone, even while speaking with an agent in real-time. eSigning a Document - Customer Screen:

1. Save your PDF document or form to your file browser
2. Upload your PDF to Lightico by clicking on the attach icon on the home screen. Your document will open in a Lightico page with a toolbar ready to use.
3. Click and drag a signature element to the required place in the document. Additional signers can be added easily.
4. Send over to the customer for signing.
5. Customer receives the document instantly and can review and sign with a simple finger swipe.

You and your team can streamline loan modifications, deferments and extensions processes securely both from the office and from a work from home environment using Lightico to serve your customers efficiently during these turbulent times. If you are using it as a stand-alone service, these workflows can also be integrated directly with your current 3rd party external software (LOS, CRM, Salesforce, etc). For clarifications about how to apply these capabilities in your business, contact your Lightico account manager.

2. How to Obtain ACH Authorizations in Minutes

Many customers are willing to repay their auto loans by ACH if they’ll receive a discount or to avoid further paperwork or missed payments down the line. So instead of waiting days for customers to email or mail forms - with Lightico, ACH Authorizations can be collected from customers with a few clicks via their cellphones. Here’s how to obtain ACH Authorizations from remote customers in minutes: Obtaining ACH Authorization - Agent Screen:

1. Save your ACH Authorization Form to your file browser in PDF format
2. Upload your Form to Lightico by clicking on the attach icon on the home screen. Your document will open in a Lightico page with a toolbar ready to use.
3. Click and drag the field elements and a signature element to the required places in the document.
4. Send over to the customer for signing.
5. The customer receives the document instantly and can review, fill in bank account information and sign simple finger swipes.

Providing ACH Authorization - Customer screen:

3. How to Collect Stips and any Document from a Customer Instantly

Now, more than ever, stips, documents and IDs need to be collected quickly and effortlessly from remote customers. Instead of waiting days to receive poor photocopies of documents through the haggard postal service, send your customers a super-quick and easy link to upload a photo of their documents from their phone. Here’s how you can collect customer stips, documents and ID quickly: Collecting Documents - Agent Screen

1. Click on Tools then Document Request.
2. Select the document to collect from the list or use the Search function to find a specific document.
3. Click Add. Click Send Request.
4. The customer then takes a photo of the document, or uploads an existing image from their phone as shown below.

On completion, you will be able to download and review the document and store it digitally on your CRM. You and your team can simplify the collection of customer documents, stips and ID using Lightico. These workflows can be integrated directly with your current third party external CRM, LOS and other software. For clarifications about how to apply these capabilities in your business, contact your Lightico account manager.

4. How to Complete Mobile-Friendly Credit Applications in Minutes

With many consumers facing unemployment or unpaid leave, this is a critical time for customers to apply for credit. Often this requires the customer to complete lengthy forms and provide multiple signatures from the customer and guarantor. With Lightico, lengthy forms can be filled quickly and multiple signatures can be collected, even if the two parties are not in the same room. Here is how credit applications with multiple signatures can be collected in minutes.

5. How to Collect Consent Disclosures for Contact or Privacy Notices

In order to ensure that your business remains fully compliant with customer consent and privacy regulations, even during these exceptional circumstances, enable your customers to approve disclosures and privacy notices with a simple click. No need for agents to read out lengthy scripts or for ink signatures on paper terms. Here is how to collect instant consent on disclosures and privacy notices with Lightico Agent Screen: Step 1: Click on Assets then select the Communication Consent Form Step 2: Click Send Request. Customer Screen:   If you are not yet a customer click here to book a time with an advisor to see which options are available for your company.