oneit developed an online loan application system for RAC Finance. The product, FASTRAC, not only allows the general public to apply for finance instantly over the web, but also provides a means for RAC Finance staff to fully manage all loan applications, from the initial quotation through to settlement. The system integrates with a variety of external organisations and offers an easy-to-use workflow to maximise operator efficiency.
Delivering the system involved both custom software development and web design.
Instead of filling out various forms and shuffling between legacy applications, operators can now use FASTRAC to automate their daily tasks into one streamlined process. This results in a vast reduction in manual workload and a corresponding improvement to operator efficiency. The system also promotes public participation in the application process, allowing them to generate their own quotes, request automatic confirmations via phone, fax, or email and then instantly apply for a loan online.
FASTRAC enforces workflow to ensure all procedures are followed in the lifecycle of a loan application, from the original quotation through to settlement. This minimises the opportunity for any required processes to be neglected or circumvented.
The FASTRAC system replaces the requirement for an operator to interact with numerous legacy systems. In addition the system guides operators through each step of the application process thus reducing the training that was previously required.
The ability for a customer to have their loan application instantly approved online is a huge benefit for RAC Finance. The reduced turnaround time associated with all applications using this system also gives RAC Finance an extra edge in a competitive market.
FASTRAC allows management to better track the performance of their employees and reward productivity.
"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 which was strongly aligned to delivering superior customer service"
Brian Darling - Assistant General Manager, RAC Finance