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, General Manager, RAC Finance
The challenge
RAC's pre-existing software for loan applications was particularly time-consuming, requesting manual data entry from specifically qualified employees at each and every phase, from credit queries and appraisals to estimate and file creation.
The solution
We developed the tailor made software package FASTRAC, a stand-alone internal system for handling loan applications from estimate to settlement.
The benefits
Day-to-day improvements
FASTRAC’s easy-to-use software gives the personnel a workflow system that successfully handles and simplifies their everyday tasks – making sure all loan application procedures are implemented and reducing the danger of applications being overlooked.
Business benefits
Clients are now able to create their own individual offers and make an application for a loan at any given time and place that’s convenient for them, using the additional advantage of immediate authorization (subject to verification).
Room to grow
FASTRAC has established itself as the principal software in RAC Finance’s day-to-day business. The advantages obtained ensured that they can process 280% more loans without rise in personnel requirements.
What we built
Online applications
Customers to input information directly online
External integrations
The automated incorporation to external platforms, like credit checking and accounting
Document generation
Effective output of paperwork, which includes estimates and legal agreements
Workflow tracking
Monitoring and control over the application process