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Digital leasing has a considerable influence on customer experience, mainly due to its three benefits: improved accessibility, enhanced convenience, and increased efficiency. In practice, digital technologies impact all the building blocks of leasing services, including those linked with other financial operations. Do you want to learn more? Keep reading!
Table of Contents
Key Takeaways
- Online leasing influences customer experience by supporting three key areas:
- accessibility,
- convenience,
- efficiency.
- Each of these areas is empowered by new technologies, like eKYC systems, digital appointment managers or even complex decision engines.
- Every single technology makes a difference in the customer experience, but when combined, they can elevate it and lead to higher customer retention rates and improved satisfaction.
You might also read: Digital acceleration and customer service quality in the leasing industry
The Influence of Digital Leasing in 3 Key Areas
Let’s examine the influence of digital leasing on the three key areas of customer experience. Take a look below.
Accessibility
Digital transformation in leasing made the services more accessible, by eliminating the location gap. While customers might still prefer local leasing services, especially if physical equipment is involved in the deal, this opens the door to numerous other companies. After all, visiting a place once to get the equipment (and not necessarily, since in many cases it can be transported to the client) isn’t as inconvenient as visiting the firm multiple times to complete the paperwork.
eKYC solutions allow for the digital completion of almost all formal aspects. Leasing appointment managers allow customers to book meetings quickly and at the best available time slots. Companies might even set up leasing virtual branches specifically for remote clients, encouraging more people to choose their digital services despite not working in the firm’s location.
Convenience
Even if location isn’t an issue, visiting physical branches might be inconvenient at times. Online leasing influences this aspect, by letting you develop an omnichannel presence. Thanks to this, clients can switch between the channels swiftly and use those that are most convenient for them at a time, which builds even better customer relationships and experience.
Efficiency
There is nothing more frustrating for the client than long waiting times, strenuous procedures, and the feeling of wasting time. That’s why it is crucial to polish your organization’s efficiency for the sake of positive customer experience. Digital leasing enables you to do that, with the help of multiple tools:
- Appointment managers – the aforementioned appointment managers enable clients to set up meetings at their convenience without having to wait in long phone queues to reach their leasing agent. They also enable clients to select the most suitable date based on full insight into available time slots.
- Leasing decision engines – these tools make it much easier for leasing agents to decide whether to approve or deny a lease, mitigating the limitations related to the number of employees vs. the number of applications. In a nutshell, they are the cornerstone of faster decision-making, which is directly reflected in better customer experience.
- Installment calculation engines – using such tools makes generating complex repayment schedules quick and simple, which adds to the overall efficiency and boosts customer satisfaction even further.
The Takeaway
The influence of digital leasing is visible in multiple areas that impact the customer experience. What’s more, the solutions introduced in this field are similar to those used in the whole finance sector, showcasing that eKYC, decision-engines and virtual branches are crucial for modern financial institutions. Although not mentioned in the article, we mustn’t forget leasing customer management platforms that enable firms to personalize their customer experiences and make them even better. In a nutshell, digitization is the key to higher customer retention rates, loyalty and satisfaction – invest in them if you haven’t done that yet!
You might also read: Unlocking the potential of mobile apps in leasing. How to design a user-centric experience?
