Partnership Will Expedite Customer Journeys and Enhance Compliance Within Consumer Lending and Auto Finance
Dallas, TX (January 24, 2024) — Solutions by Text (SBT) and Lightico are pleased to announce their strategic partnership to deliver real-time messaging capabilities to lending businesses. This collaboration comes at a time when lenders are looking towards technologies that increase conversion rates amidst the high interest rate environment. As a highly engaging consumer offering, now supported by SBT’s real-time and compliance-first conversational platform, Lightico provides a cutting-edge solution for Auto Finance organizations looking to grow their business.
Businesses and consumers alike can expect a heightened level of engagement that reduces touch points and friction throughout the loan origination process, accelerating time to funding and increasing conversion rates. Auto Finance organizations can leverage the integrated real-time messaging solutions to communicate with consumers over text, collect loan documents over multimedia messaging service (MMS) vs traditional email and web upload, and send timely alerts directly to applicant phones via the new partnership.
David Baxter, CEO of Solutions by Text, remarked, “SBT is at the forefront of transforming how the Auto Finance industry engages with its customers, and our collaboration with Lightico is a further example of our continued efforts to align with industry leaders to deliver best-in-class experiences that drive key results for our consumer finance business customers.”
“We’re thrilled to join forces with Solutions by Text in reshaping the Auto Finance landscape. This partnership is a testament to our shared vision of enhancing compliant industry communication,” said Zviki Ben-Ishay, CEO at Lightico. “By combining our digital completion expertise with SBT’s real-time solutions, we’re not just transforming processes – we’re defining a new era of efficiency, compliance, and unparalleled consumer experiences.”
Going beyond the conventional role of a text solution provider, this integration introduces a compliance-first approach to consumer communications. The partnership guarantees strict adherence to industry regulations, establishing a new benchmark for simplicity and convenience in consumer transactions and communication. Notably, the incorporation of MMS capabilities eliminates physical and traditional means of exchanging documents between applicants and lenders through direct correspondence within the text channel, thereby elevating the loan origination experience.
Together, SBT and Lightico are poised to deliver a powerful and integrated solution that addresses the evolving needs of the Auto Finance sector in today’s dynamic market.
Both companies will be exhibiting at the AFSA Vehicle conference in Las Vegas January 29 to February 1, 2024.
Lightico is an innovative Digital Completion Platform that revolutionizes customer interactions in the Auto Finance industry among other industries including Banking, Insurance, Telecommunications and more. It streamlines and automates customer-facing processes, in Auto Finance Originations and Servicing, enhancing efficiency and compliance with intelligent automation, no-code customization, AI, and robust compliance and security measures. Lightico simplifies complex workflows, ensuring superior customer experiences and operational excellence.
About Solutions by Text
Solutions by Text (SBT) is the pioneer of FinText™, empowering consumer finance companies to engage, interact and transact with their consumers in real-time. SBT has been providing compliance-first enterprise conversational messaging solutions since 2008. Solutions by Text’s vision is to bring real-time payments to the text channel, creating a seamless and optimized bill pay experience for businesses and their consumers.
Archie Group for Solutions by Text