RAC Finance

RAC's new system enabled them to triple their business without taking on additional staff.

Issues

RAC's existing system for loan applications was extremely time intensive, requiring manual data entry from specially trained staff at every stage, from credit queries and valuations to quote and document production.

Solution

We created the custom software package FASTRAC, a stand-alone internal system for managing loan applications from quote to settlement. FASTRAC enables:

• Customers to enter data directly online
• The automatic integration to external systems, such as credit checking and accounting
• Efficient production of documentation, including quotes and contracts
• Tracking and management of the application process

Benefits

FASTRAC’s easy-to-use interface provides staff with a workflow system that efficiently manages and streamlines their daily tasks – ensuring all loan application procedures are followed and minimising the risk of applications being neglected.

Customers can now generate their own quotes and apply for a loan at a time and place that’s convenient for them, with the added benefit of instant approval (subject to verification).

Bottom line

FASTRAC has established itself as the primary system in RAC Finance’s day-to-day operations. The efficiencies gained allowed them to process 280% more loans with no increase in staffing requirements.

“Thanks to Oneit, RAC Finance has been able to deliver a cutting-edge loan approval system which has streamlined our loan processing and delivered remarkable savings in time and costs. Oneit took time to understand our business needs and developed a solution that enables us to deliver superior customer service.”
Brian Darling – Assistant General Manager, RAC Finance

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