Byrider Chooses Lightico to Achieve 86% Faster Turnaround Time
Posted on Aug 02, 2022 by Eytan Morgenstern
Leading Dealership Franchise Replaces Legacy Provider with Lightico’s Digital Completion Cloud to Provide a Wide Range of Mobile-First Interactions for Customers of CNAC, Byrider’s Finance Company
New York, NY, August 2, 2022 – Lightico, leading provider of digital customer interactions, announced today that Byrider’s finance company, CNAC, has chosen Lightico as its digitalization partner, achieving 86% faster turnaround time for loan processing. Lightico’s Digital Completion Cloud enables Byrider to collect eSignatures and stips for loans quickly and effectively with an 84% completion rate and significantly improved customer and employee satisfaction.
“The switch to Lightico has assisted us in lowering operating costs, improving associate productivity, and provided a more positive experience for our customers,“ said Timothy Brown, Regional Collection Manager at Byrider.. “With Lightico, our agents are able to focus on helping our customers at every stage of the journey in a fast and efficient way. This is key to providing a great customer experience to help them keep their accounts in good standing.”
Byrider, one of America’s largest buy-here-pay-here dealership franchises, has sold more than 1.2 million cars at more than 150 locations across the country. Despite its successes, CNAC, the finance company, struggled to efficiently manage a part of its automotive account collections process. After switching to Lightico’s streamlined document request and eSignature solution, CNAC saw immediate ROI.
With Lightico, Byrider has seen:
- 84% of documents were returned by the customer (40% increase from previous solution)
- Turnaround time (TAT) shrank by 86%.
- TAT went from one week to less than one day
“In 2022, it should come as no surprise that customers demand quick, easy and mobile interactions with every process they complete, including their car financing,” said Zviki Ben Ishay, CEO and cofounder at Lightico. ”Byrider has digitally advanced its processes significantly and the significant improvements in bottom-line results, efficiency and customer satisfaction are clear.”
Lightico’s Digital Completion Cloud is a no-code, mobile-first solution for companies that enables quickly and seamless completion of high-friction interactions with customers including loan originations and servicing. Upon receiving the message, customers are able to easily sign forms and upload documents to a secure mobile (or desktop) session while on the phone with an agent.
Lightico will be exhibiting at Digital Dealer and the Auto Finance Summit in October in Las Vegas.
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About Lightico
Lightico is an award-winning SaaS platform that empowers businesses to accelerate their customer journeys through automated workflows. With the Lightico Digital Completion Cloud™, companies leverage no-code workflows to easily collect customer eSignatures, documents, and payments, and authenticate ID in real time — straight from the customer’s smartphone. By unifying the previously siloed steps of customer-facing processes, businesses enjoy faster and shorter sales and servicing cycles, boost NPS, and significantly improve their completion rates. Hundreds of enterprises, including Fortune 500 companies in highly regulated industries such as finance, insurance, and telecommunications, rely on Lightico to make their customer journeys more efficient and streamlined.
Press Contact:
Eytan Morgenstern
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+1 (917) 688-4314