Asset Finance Brokers Find The Best Lender First Time Every Time
by Chris Hopkins, on Sep 16, 2020 12:14:17 PM
One of the biggest daily challenges for an asset finance broker is choosing the right lender. Submitting a loan application to a lender and getting it wrong has several negative consequences.
Firstly there is the time taken to submit to the lender and the wait for lender assessment, often up to 3 days. If the loan is rejected you've just wasted all that time and effort for no result. Even worse it's probably going to be more difficult to find another lender now as the applicants credit score has just taken a hit due to the rejection.
In short, pushing the application to the wrong lender could mean you blow the opportunity completely.
But what if there was a broker platform that delivered lightning fast customer financing qualification and removed the guesswork from choosing the right lender.
With Ausloans Zink’s traffic light credit assessment and advanced lender matching algorithms we remove the guesswork. Not only does Zink deliver a list of lenders prepared to buy the loan, it delivers a complete ranked breakdown of lender offers and provides a game changing intuitive lender matching accuracy rating.
7 reasons why asset finance brokers should consider Zink. (infographic)
How Zink turbocharges broker productivity and efficiency.
Zink is a platform designed for brokers by brokers to streamline the loan application process and making financing easy for both consumers and lenders.
With Zink a novice broker could easily 3X their productivity and efficiency and in-house at Ausloans our experienced brokers are 6X ing their productivity.
Here's what one of our inhouse brokerage team had to say about how switching to Zink has impacted their working day.
Prior to ZINK implementation I was only able to take two maybe three applications in an hour and now I am able to speak to up to 10 customers with at least 5 full applications taken in the same time frame. It is all down to Zink’s ability to capture information and allow me to understand the customers current financial situation faster with less human error. ZINK is a gamechanger in the day to day operations for brokers. Faster turnarounds with a quick snapshot of a customer’s eligibility after a few quick questions makes for happier clients and more efficient brokers – it is win-win. Morgan Newton _ Ausloans Broker
So lets get into the specifics of how Zink can dramatically improve your productivity and efficiency.
Consumer facing Zink
Consumer facing Zink gives your customers an easy way to apply for finance with our fast, paperless online application. Simply directing the customer to complete the basic application online eliminates the risk of typo errors and / or misunderstandings of names and or spellings. With just some basic information and a copy of your customers drivers license Zink can deliver a full credit assessment within seconds.
Automated compliance management
Zink's application engine incorporates a state of the art digital identity verification feature and quietly manages compliance in the background. With just a copy of your customers driving license Zink pulls data from several databases to verify customer identity and much more.
Lightning fast credit assessment
Zink’s qualification engine instantly searches multiple databases and delivers a simple traffic light assessment of your customers creditworthiness across six key lending criteria. For brokers it also shows the clients credit history including any outstanding defaults and/or other red flags.
I absolutely love Zink!! I has improved productivity in our business by about 300% with the amount of applications we can do in a day. It's really helpful in being able to have a quick chat and provide some upfront insight and advice to clients, if it's an auto decline due to credit file, we didn't need to waste 30 mins first to get there, we could see it within 30 seconds, it has enabled us to give our customers more upfront feedback and advice on how their file is looking, what information we require for an approval as well as what they can do to improve their financial position in the future. The ability to request all documents through the platform has increase the speed of doc collection and the amount of people who are sending them in right away also. Jeneya Huxter - Ausloans Broker
Advanced lender matching –
Zink's broker advisor engine is a real gamechanger. When an application is lodged through Zink, our advanced lender matching algorythms analyse the application against 1000's of lender variables from 40+ lenders and in seconds delivers a full breakdown of lender offers.
Here’s what Zink's broker advisor shows you, the broker.
First and foremost Zink presents a list of all lenders (from a pool of 40+ lenders) with whom the customer qualifies. Depending on the profile of the customer this could be a single lender or multiple lenders.
Intuitive lender accuracy rating
Zink automatically ranks the lenders with an accuracy rating of the lender accepting the loan. With Zinks algorithms delivering lender accuracy matching as high a 85% this is a gamechanger.
Lender rate showcase
Zink clearly displays the maximum amount each lender is prepared to offer and showcases the different interest rates for which your customer is eligible.
Broker income display
Zink provides brokers with a picture of the total income a broker can earn from each lender.
Ready to find the right lender first time, every time. Book a Zink demo today.