If you’ve worked with a waterfall company before to try and streamline your consumer finance program, you know that they often limit you to a small pool of lenders within their application. Oftentimes, these ‘waterfall companies’ will attempt to restrict you to the use of their preferred lenders. Even in cases where they will add lenders for you, they may end up charging you an arm and a leg to do so.
Your lender pool has a lot to do with the success of your consumer finance program, which means you need to be able to add lenders or remove them as needed based on performance. Here’s how to expand your lender network, create new opportunities, and open up a world of consumer finance possibilities for your business.
Get in the Driver’s Seat With FormPiper
While traditional waterfall companies restrict your options, FormPiper opens new doors when it comes to your lender network, by offering both fixed and fully customizable platforms. When you take advantage of our custom option, we’ll work with your preferred lenders, creating a lender lineup that fits your business, your vertical, and your customers’ needs.
Look at it this way – you try to hire the best employees to fulfill your company mission, right? You try to use the best tools. You try to establish the most effective tech stack. You try to use the most effective and enticing marketing materials. So if you are aiming for the best in all of these areas, why wouldn’t you try to find the perfect lender lineup that actually suits your business’s needs, instead of going with a “one-size-fits-all” option that might not fit at all?
FormPiper is here to put you back in the driver’s seat, not only by enabling you to choose the right lenders for your business and your customers, but also by empowering you to control the application submission order for every customer you serve, rather than using a formulaic submission sequence like many of your basic waterfall companies.
Additionally, FormPiper allows for unlimited lenders, so you can add as many as you need to suit your customers’ requirements. The level of flexibility we provide when it comes to establishing your lender network is simply a cut above.
Report for Success
On top of all that, FormPiper also provides Lender Performance Reporting, so you can understand how your lenders are actually contributing to the success of your business. With our reporting, you’ll be able to take decisive action based on clear insights to improve your lender network on an ongoing basis, rather than sticking with the same old lender network for years on end, regardless of performance.
It all adds up to a major expansion and complete enhancement of your consumer finance program by way of holistically improved lender network. With FormPiper and the perfect lender lineup to bolster your consumer finance program, you’ll start seeing finance success like never before, and the added revenue and increased customer satisfaction that comes with it.
