700Credit finalizes affiliation with OTTOMOTO
Last week, 700Credit announced an affiliation with OTTOMOTO, a platform designed to streamline every part of the retail finance process — from credit applications through funding.
With this new relationship, OTTOMOTO has integrated 700Credit’s compliance and prequalification soft pull solutions into its desking and lender aggregation platform providing a smooth workflow and seamless dealer experience.
With OTTOMOTO, customers can complete their credit application or get prequalified anywhere by simply scanning a QR code or receiving a text and getting instantly notified of any additional requirements they need for approval right from their mobile phone.
“OTTOMOTO’s approach to integrating our solutions across dealer websites, desking and lender aggregation platform provides for multiple points of visibility into the credit position of the customer throughout the shopping process,” 700Credit managing director Ken Hill said in a news release. “Adding the QR component across these touchpoints further enhances the ability to engage the customer in real time.”
OTTOMOTO CEO Paul Nicholas added, “With the 700Credit integration we can give each dealer the ability to customize their own consumer workflows. They can decide to use soft pulls to move the customer through one flow for a set of parameters or to allow the customer to follow a different flow for another.
“This allows the F&I to use AI and technology to be more proficient. OTTOMOTO acts as an assistant. This helps independent dealers get into F&I as 80% do not even have a dedicated person for this and franchise stores are having a hard time hiring the talent needed,” Nicholas went on to say.