Auto Finance Triggers
& Lead Solutions

Improve debt recovery and collection strategies with machine learning (ML).
Control costs while increasing productivity with data-driven insights.

Optimize Recovery with
Machine-Learning Auto Triggers

Increase Recovery Revenue

Identify debtors most likely to pay
and who might pay the most to
prioritize collections

Improve Collection Operations

Automate decision trees and debt
scoring to optimize collection
strategies and treatment levels

Innovate Recovery Strategies

Increase agility to adapt
collections to changing
conditions and prevent default

Increase Recovery Revenue

Video Cover Image | GDS Link
Video Cover Image | GDS Link

Improve Collection Operations

Innovate Recovery Strategies

Video Cover Image | GDS Link

LEARN MORE ABOUT AUTO TRIGGERS

Amplify your profitability with Machine-Learning Auto Triggers

Analyze your business holistically. Turn insights into decisions. Forecast with confidence.

See The Future. Realize the Growth.
0
Billion Decisions Annually
1 +
Years of Experience
0
Countries Served
$ 0
Average Annual Income Impact through Model Implementation

What Our Customers Say

“Over 80% of banks can’t participate in credit cards because of scale. We saw an opportunity to build a 21st century end-to-end platform for banks to service credit card loans, including credit decisioning and on-boarding processes.”

-President, CorServ

Other Solutions

About Auto Triggers 

Auto triggers allow financial institutions and automotive dealers access to consumer’s information after they’ve applied for an auto loan. Vehicle purchases are a big decision for most consumers. In most cases, they are not made same-day, thus leaving an opportunity for lenders to capture loans for consumers in the market for an auto loan. Auto triggers will allow you to select criteria to narrow down your target market, only going after those that fit your specific underwritting criteria. While your initial answer may be everyone, it may be more effective to narrow it down to specific criteria. Once you’ve perfected the process of capturing and closing leads, you could then consider expanding your criteria. If you’re interested in capturing more auto loans and generating more qualified leads, you’ll want to be in the know about auto trigger leads. They can take auto loans from 0 to 100, quickly. Keep your foot on the pedal and read on to accelerate auto loans. 

What are auto trigger leads?

An auto trigger lead is initiated by a consumer applying for an auto loan. Within 24 hours of the inquiry, it’s flagged by the credit bureau and can be delivered to external sources as a lead. To access auto trigger leads, you will need a trusted partner to manage criteria and deliver leads. Financial institutions, automotive dealerships, and any business in the market for auto trigger leads should work with Ser Tech to receive auto trigger leads. Ser Tech’s service goes far beyond the lead, which we will dive into more detail later, but first, let’s spend more time learning about auto trigger leads.

Auto trigger leads can be filtered by criteria. Criteria can include location, credit score, loan amount requested, and so forth. While most financial institutions will favor low-risk consumers, there are some that wish to grow their subprime market. Your financial goals and reach should drive criteria. For example, if you’re a local credit union, your criteria should focus on consumers within a 20 or 25 mile radius. Auto trigger leads are purely data-driven so you have the opportunity to essentially fish for the ideal customer. Therefore, you can spend more time helping customers that qualify and meet requirements and less time trying to serve every customer that inquires. With today’s technological efficiencies this can be significantly improved helping to cut down on operating costs.

Since trigger leads are delivered within 24 hours of a credit inquiry, the information should be accurate, but will still need to be verified by your financial institution. Furthermore, you can capture customers that are actively shopping for a loan. Data shows that 60% of loan shoppers will commit to a loan within a week of a credit bureau inquiry. This statistic truly goes to prove that there is no more efficient use of resources. To get started using auto trigger leads, contact Ser Tech. Ser Tech is a global leader in credit risk management, specializing in providing tailored software, analytical, and consulting services. Through our automation platforms, businesses can compete aggressively, yet tactful, in the modern lending world. Ser Tech can help deliver qualified leads and a personalized experience for customers. Our services represent an exceptional value that has been proven through results for thousands of clients around the world.

Prescreens for auto leads

Generating qualified auto loan leads can boost business tremendously. Prescreen offers can be used in combination with auto loan triggers. Prescreen offers utilize credit data to generate a personalized auto loan offer for a potential or existing member. To get the right offer in the right individual’s hands, you will share underwriting criteria which will be implemented into the prescreening process. While interacting with customers, representatives can provide instant loan offers. Furthermore, they may subsquently uncover services and products a member needs. Using prescreen offers, they can provide the customer a solution for the problem or need they have shared. Prescreen offers can also be used in batch form, but are often more effective on an individual basis.

After receiving an auto loan trigger, representatives or software systems can use instant prescreen offers to connect with customers. Prescreen offers provide the ability to deliver personalized offers that a customer should qualify for, thus keeping the transaction straightforward, valuable, and easy. Starting off on the right foot can make a lasting impact on new and existing customers.

While there are many benefits of using prescreen auto leads, the main ones are as follows.

What are the benefits of auto trigger leads?

Auto trigger leads offer many benefits. While some are obvious, others are less so, but make a lasting impact. Perhaps it’s your prescreened auto loan offer that helped an individual afford the car of their dreams. From the personalized offer that seemed to land in their lap effortlessly to the quick funding process, your financial institution made the process easy. So, you’ve just earned their business, and now are likely to earn their friends too or possibly expand your relationship with the current customer. The experience we deliver to customers truly drives everything. Auto trigger leads can help you deliver a valuable and unparalleled customer experience.

Here are just some of the benefits of Ser Tech’s auto trigger leads:

  • 5% – 12% response rate. Before partnering with a company, ask to see results. Any successful data-driven company should be backed by data, including their success rate. Ser Tech proudly delivers a 5% to 12% response rate from trigger programs. Remember that reaching the right customers is critical for a good response rate as well as offering a compelling offer.
  • Generate prequalified leads in the market for an auto loan effortlessly. Leads are the lifeblood of any sales process. While volume is important, what’s more important is qualified leads. If you market correctly you may generate fewer but higher qualified leads, and drive the same or better results with less effort and resources. You can also reduce risk by lending primarily to low-risk borrowers. Trigger programs allow you to reach your ideal lending market.
  • Fully FCRA compliant. Ser Tech trigger marketing programs are fully compliant with the Fair Credit Reporting Act (FCRA). Ensuring you are compliant is another way to reduce risk. By partnering with Ser Tech, you can let us protect compliance so that you can focus on results.
  • Grow relationships. The reason we ramp up marketing efforts is to attract new customers and retain existing customers. While the mission is to deliver unmatched customer experiences, profits matter too. Trigger marketing programs can help you expand current accounts while recruiting new accounts. With personalized prescreened offers, customers can feel more connected to your financial institution. By offering a straightforward and simple loan process, you can grow relationships which in turn will grow your business.
  • Monitor customers that are actively shopping for an auto loan. Timing is everything. Trigger marketing allows you to connect with customers who are actively searching for an auto loan. This is just another way that trigger marketing proves to be one of the most efficient approaches in streamlining the process.
  • Operate more efficiently. To elaborate on the previous benefit, trigger programs allow businesses to operate lean. By generating active and qualified leads, you can invest time more wisely. You can also cut down on overhead costs by eliminating the need to reach out to double or triple the leads. With trigger marketing, you may have fewer leads but soon you’ll realize that less is more. A set of qualified leads is a gold mine if worked properly.
  • Daily call report to improve conversion. Ser Tech provides analytics and tools such as a daily call report that can help organize follow-up and close more loans. Staying in contact with customers that have received offers is an important personal touch that will help you earn their business.
  • Take advantage of omnichannel delivery. Omnichannel delivery provides a seamless experience for customers through the preferred channel. Ser Tech provides options for both companies and customers.

What qualifies a consumer as an auto trigger lead?

In general, a consumer can become a qualified auto trigger lead if they have applied or inquired for an auto loan recently (typically within the last 24 hours) and meet underwriting and other criteria. Businesses will set certain criteria that describe their desired customer. If consumers apply for an auto loan and the information is reported to a major credit bureau, the lead can be forwarded as an auto loan trigger, as long as the consumer meets your criteria. For example, if you only offer auto loans in California, then you will only want California leads. Criteria can detail specifics such as credit score, location, and so forth. You will have the opportunity to work with data companies such as Ser Tech to create the specifics that pertain to what you consider a qualified auto trigger lead.

Ser Tech goes beyond just supplying financial institutions with data. Ser Tech provides expert advice, advanced resources, and turnkey marketing programs. Plus, you’ll only pay for what you match. Partnering with Ser Tech allows you to maximize marketing dollars, improve investment decisions, and deliver a personalized experience for customers. With Ser Tech you can take advantage of $5 ROI for every $1 invested. With over 3k credit unions served and $1M prequalified offers sent annually, Ser Tech is a major player in the trigger marketing space. To produce the best results for your company, partner with Ser Tech and show your competitors what it looks like to win the race.

Drive results with Ser Tech’s auto trigger program. . . request a free demo today!