How an Auto Lender Cut Letter Update Times from Weeks to Days with DataOceans
An Oregon auto lender needed to maintain adverse action and welcome letter production after its previous customer communications management provider discontinued service. With DataOceans Letter Manager, the lender gained control over letter templates and new data import definitions, reducing these tasks from weeks or months to days or less.
"We faced a critical challenge with our communication platform. Our business partners required us to make changes to our conditional approval letter promptly. Through the use of the DataOceans platform we were able to modify the source data file structure to add the new data elements. Once the data file was updated, we were able to update the letter templates to map the new variables into the correct position. Overall, this collaborative effort with DataOceans brought about efficiency, flexibility, and reduced our dependency on external resources.”
Business System Supervisor from Auto Lending Finance Company
The Auto Finance Company's mission has been making auto financing more straightforward as the primary lender for various dealer groups. They are driven by principles that shape their company culture every day, supporting their continued delivery of top-notch service and products.
The Challenge
An indirect auto-lending finance company located in Southern Oregon faced a pressing challenge when their previous Customer Communications Management (CCM) provider ceased services, leaving them in need of a seamless solution to produce Adverse Action and Welcome Letters. The urgency stemmed from the necessity to minimize downtime and uphold regulatory compliance.
The Solution
To address this challenge, the company turned to DataOceans. The implementation process involved close collaboration between the auto lender, their Loan Origination System (LOS) provider, and DataOceans.
DataOceans meticulously reviewed source data output and worked with the auto lender and its LOS provider to define the relevant business logic. Additionally, DataOceans managed import and layout tasks for generating essential letter output. The auto lender undertook rigorous testing and approval processes to ensure output accuracy. Moreover, DataOceans assisted in retrieving and integrating one year's historical documents from the prior vendor.
With DataOceans, the lender could self-manage letter templates and create new letter data import definitions. These tasks went from weeks or months to days or less, reducing the lender's dependence on external vendors and simplifying its change management process.
Solution Features
Self-Managed Letter Templates
Greater control over letter templates through DataOceans' user interface.
Letter Template Changes in Minutes
For this lender, letter template content changes could be made in a matter of minutes.
Reduced Reliance on Vendors & IT
The lender could manage routine letter-template changes without vendor or internal IT involvement.
Content Changes in One Day
For this lender, compliance and other content changes could be requested and made in one day. Its prior solution took weeks and involved the vendor, internal IT, and a full project team.
What This Meant for the Lender
DataOceansLetter Manager helped the lender maintain adverse action and welcome letter production while giving its team more control over ongoing template changes. The initial implementation involved the lender, its LOS provider, and DataOceans; that setup work enabled the ongoing changes described here. Explore DataOceans'auto finance solutions to see how letter management fits into the wider borrower-communications offer.
Explore More Control Over Your Letter Changes
Discuss the letters you manage, the changes your team needs to make, and your source-system and approval requirements with DataOceans.
.png)
