Business Overview:
The company has developed a specialized customer relationship management software program specifically aimed at credit unions and banks. The program manages all aspects of customer identification, solicitation, acquisition and retention and has been demonstrated to lead to increased customer responses and lower costs per response. In the financial services industry, the loan application and approval process has been shortened dramatically in recent years. However, these process improvements merely automate past marketing practices. Financial institutions remain limited to soliciting potential customers for a specific product, such as a home equity loan, an auto loan or a boat loan. This limitation results in expensive marketing programs with low response rates. The company’s new patent pending software, which has taken years to develop, allows a financial institution to qualify and solicit potential customers for loans for multiple products in one mailing, defining the terms available for each customer and for each product. It further allows the client to remain pre-approved for an array of loan products. The patent pending software program offers lending institutions a turn-key implementation of a fully-integrated pre-screened lending program, from customer identification through post loan customer retention. It employs a unique combination of analytic, campaign management, sales support and delivery channel management that maximizes efficiencies, boosts sales volume, lowers customer acquisition costs. A skeletal version of the system implemented by a large California credit union increased the average response rate per pre-approval from 2.34% to 5.38% and reduced the acquisition cost of approximately $125 per response to $26 per response. The company has a detailed business plan, including a product road map for future growth, a highly qualified management team and has successfully field-tested a beta version of the software for several years. The product will be ready for full-scale launch after 3 months of final development and testing. The company is looking for a partner to assist in taking it to the next level.
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Additional Details:
- The property is owned.
- The owner is not willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.
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