AutoFX2 is a simple-to-use lending application that allows consumers to securely apply for a vehicle loan from their smartphones. Banks can quickly pre-approve loans, validate the consumerís collateral, and execute the loans, without the customer having to leave the car lot.
AutoFX2 streamlines the purchasing or refinancing process for the customer and the bank. In addition to filling out the loan application on-screen, consumers can also capture pictures of the vehicle, buyer and seller IDs and vehicle identification number.
AutoFX2 works on iPhone/iPad or Android platforms. By working with the deviceís technology, AutoFX2 utilizes the camera, GPS, texting, and security features. When the camera captures the VIN number, AutoFX2 automatically populates the loan application fields, streamlining the loan-application process.
The benefits of the AutoFX2 lending app include
- Increased loan completions with simple, rapid data entry
- Reduced cost and timing of loan completion, with bank control of decision support elements
- QR Codes allow targeted marketing campaigns for refinancing or acquiring new customers
- Validation of collateral using photographs of each angle of the vehicle, VIN, odometer reading, accessories and Photo ID
- Secure mobile authentication and transaction server with bank-friendly APIs
- Available on iTunes and Android Marketplace with managed updates
- Opportunities to enhance the relationship with preferred auto dealers.
AutoFX2ís patent-pending technology improves the customer experience, enhances the customer relationship with the bank and opens new opportunities for improving the vehicle lending process. AutoFX2 is a thought leader for enabling banks to extend their lending into the mobile environment where the buying decisions are made.