New digital application technology developed by WesBank has been adopted by Nissan South Africa and Nissan Finance to assist customers when applying for finance online.
The technology, launched by WesBank in October last year, is currently integrated into the bank’s website and into the FNB app. It is the first online application technology of its kind and has enjoyed a continued increase in use since its launch.
This same technology will now be integrated into the Nissan SA website offering customers a seamless, simple and customer-centric digital solution when applying for Nissan vehicle finance.
“We are very happy about our collaboration with WesBank and the integration of its digital application platform technology into our website. It will most definitely enhance Nissan and Nissan Finance’s digital offering to prospective Nissan owners,” says Nancy Moodley, Nissan South Africa’s head of customer experience and digital.
Potential Nissan customers will now be able to visit the Nissan website from their laptop or mobile device, register and get car finance approval in less than 10 minutes. Long, intimidating forms and copies of documents are replaced with a series of short plain-language questions that guide customers through the simple application process, all from the privacy, safety and comfort of their home.
The technology takes the anxiety out of vehicle affordability for the customer, who is now able to interact with the Nissan website to realise the best possible personalised deal structure for their desired Nissan vehicle, tailor made to suit their budget.
WesBank is renowned for producing technological industry-firsts, such as online contract signing, online self-help and WShop. These solutions mitigate potential disruption before it happens, and the bank’s digital application is no different.
“When developing this platform, our goal was to make the online journey of applying for vehicle finance a stress-free conversation, not an interrogation, for our customers – simple as that. We ask the applicants to tell us a bit about themselves and the car they are interested in purchasing and in under 10 minutes, we can tell them whether they’re approved for the requested vehicle financing or not. If not, we can offer them alternative options to fit their budget,” says Dane Reddy, WesBank’s head of digital.
WesBank’s platform is a useful tool for the finance applicant to understand what his or her vehicle affordability range is, that will yield a positive “yes” response. However, a “no” response isn’t the end of the conversation.
“The technology is able to process a number of applications from a single customer, so they can save their quick approval and repeat this simple process for multiple car selections. Then, they can return to the car they want to buy and the financing option that best suits their pocket, when they’re ready to go ahead and make things official. The technology therefore also helps them to become a more informed and empowered car-shopper,” says Reddy.
“The result is a digital interaction that serves both the customer and the business in a collaborative, integrated and symbiotic fashion. For prospective Nissan car-buyers, applying for vehicle finance is demystified, simplified and stress-free. In return for being transparent, open and helpful, Nissan is in a stronger position to convert those car-buyers into lifelong, loyal customers through the inclusion of a comprehensive Nissan Dealer Network, fulfilling the value chain and satisfying the customers’ vehicle requirements. We are certainly very excited about adopting this technology,” says Graham Dunkerley, head of Nissan Finance.