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A Resilient Platform—Adaptable to the Changing Demands in Asset Finance

Oracle Financial Services Lending and Leasing

Oracle Financial Services Lending and Leasing is a comprehensive, purpose-built solution that provides a modern, enterprise-wide platform to support the entire lending and leasing process.

This solution delivers seamless, end-to-end digital capabilities, from origination to servicing through collections and asset management. It offers flexible deployment options on-premises or in the cloud. Its open architecture can integrate with any compatible system, application or device—with added value when coupled with Oracle’s Internet of Things Intelligent Applications Cloud and advanced analytics to give a whole range of new real-time insights into your customers and the asset finance market. Simply stated, this solution improves the customer experience with a modern digital platform; enables flexibility that drives business growth; and increases productivity with automated processes and transactions.

In addition, Oracle Financial Services Lending and Leasing has the flexibility and functionality required to deliver for diverse markets. It has been deployed successfully across various segments serving a wide variety of customers from individuals and SMEs to corporates for vehicles, plant and machinery, mortgage lines of credit, educational loans, phone handsets, and more.

The Asset Finance Market

Across diverse sectors of the asset finance market—vehicle finance, equipment finance, device financing, subprime finance, consumer finance, and vacation ownership/timeshare finance—there are distinct requirements. Regardless, each market demands robust and flexible solutions with an increasing need for delivery in the cloud (PDF). As business models continue to change rapidly and the move to subscription services gathers momentum, markets inevitably become more competitive.

To drive business growth amid an increasingly competitive environment, the asset finance market must embrace modern solutions. Customers are seeking digital-forward solutions—and lenders must respond with agility and flexibility. Across markets, modern solutions enable lenders to improve the customer experience, ensure compliance, and boost profitability.

Even the most creative and innovative businesses/financial institutions can find themselves held back by legacy lending and leasing systems that lack inherent flexibility, open architecture or the ability to grow and evolve to leverage the latest technological advances. Oracle Financial Services Lending and Leasing breaks these barriers and delivers a modern, enterprise-wide platform that supports the entire lending and leasing process across various markets and regions.

Vehicle Finance

The vehicle finance industry is facing a critical crossroads. Consumers are demanding hassle-free, smooth, high-quality, and personalized service. They seek digital capabilities, 24/7 service, and more flexible products, terms, and options. Automotive finance organizations must deliver value while managing costs.

Moreover, nontraditional fintech startups are entering the scene—and are eager to deliver on customers changing demands. To compete, vehicle finance organizations must leverage solutions that allow them to lead with their strengths to deliver exceptional value, reduce costs, and enable a modern and frictionless customer experience. With the goal of providing a superior experience for the customer, the dealer and the auto lender, automotive finance organizations must:

  • Leverage end-to-end capabilities on a modern digital platform
  • Enable flexibility that drives business growth
  • Increase productivity through automation

How Oracle Can Help

Oracle Financial Services Lending and Leasing empowers vehicle finance companies to compete in today’s rapidly changing landscape. For example, finance organizations have the flexibility to adapt products to an increasingly subscription-based economy, where consumers may prefer access over ownership. In addition, its ability to support Internet of Things (IoT) functionality improves asset management with real-time data on miles driven, vehicle condition and location, maintenance requirements, and more. Furthermore, the solution delivers powerful self-service capabilities via multiple channels, whether to support processes as simple as address changes or more complex functions, such as changing payment schedules or activating self-healing collections programs.

Oracle Customer Success Story

An American motorcycle manufacturer sought to improve customer service and dealer relationships, while reducing costs throughout its servicing and collection operations. It needed to modernize—and move away from a highly customized legacy system. It selected and deployed Oracle Financial Services Lending and Leasing for a real-time, integrated, end-to-end solution for the complete lending lifecycle and achieved the below results:

  • Elevated operational efficiency and improved customer retentions
  • Enhanced reporting to analyze various securitization portfolios
  • Reduced manual transaction processing—offering simpler and more intuitive self-service capabilities
  • Strengthened ability to identify high-risk customers with near real-time workflow
  • Improved receivable management activities and streamlined repossession processes—reducing delinquencies

Equipment Finance

Customers cash flow needs are increasingly demanding—and flexible financing options bundled with consumables and services are expected. Manufacturers and their capital partners are seeking to build stronger customer relationships while positioning greater up-sell opportunities.

Equipment financers are often burdened by a rigid and incomplete IT infrastructure that has been pieced together using a complex web of niche software applications or customizations. These constraints prevent the agility and flexibility needed to surpass their competition and boost revenue growth.

Lenders must be able to create and support new financial products and provide attractive and flexible finance options that make it easier for their customers, dealers, and vendors to acquire new and used equipment. This requires a solution that enables organizations to share common information, predict and adapt quickly to market opportunities, and power faster, better informed, and more consistent decisions.

How Oracle Can Help

Lenders offering flexible financing options through leases, loans, or revolving credit, automatically establish a stronger relationship over a longer horizon. To build a stronger relationship, lenders must quickly respond to customers as circumstances change. Oracle Financial Services Lending and Leasing provides lenders with a 360-degree view of their customers to arm their customer-facing teams with asset, account, contract, receivables, and payables information so those teams can quickly provide customers with informative and accurate data. Customers can also review their own asset information, view invoices, request termination quotes, update bill-to sites, make payments, and more. Fast and easy contact with customers increases upsell opportunities for products, services, and consumables—and because all processes can be workflow driven, lenders have ultimate control to automatically enforce contract and business rules when processing upgrades, swaps, or exchanges.

Oracle Customer Success Story

The captive finance company for a US-based agriculture, utility and construction equipment firm needed to modernize its highly customized legacy finance system and required a more scalable system. It was seeking to manage all financial products on a single system, improve customer relationships, and deliver new programs to drive sales—all while reducing costs and ensuring regulatory compliance.

It selected and deployed Oracle Financial Services Lending and Leasing to offer both loan and lease products, supporting aggressive growth, enhancing relationships with more than 1000 dealers, and achieved the below results:

  • Reduced manual transaction processing with automation
  • Streamlined customer self-service capabilities and debit card processing
  • Improved customer satisfaction
  • Increase operating efficiencies

Device Financing

The device financing market continues to expand—and in particular, mobile telecom operators are seeking alternatives to portfolio-level subsidizing and self-funding of handsets. As the 5G rollout is also bringing significant changes and challenges for both consumers and telecommunication operators alike—the focus is naturally on increasing adoption of financing alternatives in this market.

There is no longer a need to tie-up capital in the traditional way. There are viable and proven financing alternatives that can protect and even enhance margins, as well as release capital for more pressing business priorities. These alternatives remove the burden of handset subsidies from operators’ balance sheets. They offer service subscribers greater affordability while giving customers more flexible contracts and access to cutting-edge smartphones, encouraging regular upgrading and higher usage and spending patterns.

Modern, flexible solutions equip operators with unparalleled flexibility to leverage extensive enterprise-wide data to deliver the right product offerings and financing options for their customers.

How Oracle Can Help

Oracle Financial Services Lending and Leasing helps telecom operators, national retailers, and handset lenders provide a modern digital shopping cart experience to customers for device financing. Comprehensive and highly configurable, it delivers end-to-end capabilities—from origination to servicing through collections and asset management. It provides unparalleled flexibility and gives organizations the ability to leverage enterprise-wide data to deliver the right product offerings and financing options. The solution also enables seamless integration with point-of-sale solutions, billing systems, and product catalogs.

Oracle Customer Success Story

America’s largest 5G network provider sought full-scale modernization—and it required proven technology and solutions. It needed to transform its core system of record from an in-house system to a modern cloud based system that supports device financing, offers unique products, and enhances revenue.

It selected and deployed Oracle Financial Services Lending and Leasing for its modernization journey and achieved the below results:

  • Demonstrated highest level of availability and scalability
  • Operated in more than 7000 stores across US and Puerto Rico
  • Serviced 37 million accounts
  • Originated $2–$5 million new loans/leases each day

Subprime Finance

The subprime finance industry faces complex compliance and regulations challenges. Lenders must adhere to strict and ever-evolving tracking and reporting standards which often vary by states. When collecting on a loan, lenders often navigate various hurdles—what method of contact is authorized? When can a lender make contact? Where is contact via telephone prohibited? Lenders must balance these complex requirements with changing customer demands around efficiency and digital, self-service solutions.

Lenders also require seamless integration with vendors they rely on for collections. Information from collections agencies and door-knockers, for example, must feed directly into the system, enabling lenders to see a complete picture of a customer’s account.

How Oracle Can Help

Oracle Financial Services Lending and Leasing provides comprehensive functionality to support specialized collection-related activities, including tracking all occurrences and related histories associated with bankruptcies, repossessions, and deficiency (recovery) management. The solution also supports self-healing collections capabilities that improve outcomes, reduce risk, and strengthen customer relationships.

Oracle Customer Success Story

Specializing in the acquisition and servicing of vehicle finance options—the largest privately held finance company in the U.S.—has a portfolio of more than $8 billion in originated auto loans and leases, direct-to-consumer loans, and portfolio purchases. It needed a solution to track and report specific financial information for more than 20 asset-backed securitization portfolios, allowing proper investor reconciliation, improved cash management and expanded insight to reduce risk.

It selected and deployed Oracle Financial Services Lending and Leasing to offer both loan and lease products and achieved the below results:

  • Experienced constant 30% annual growth
  • Streamlined processes and workflows
  • Reduced costs
  • Ensured state and federal regulatory compliance throughout its servicing and collection operations

Consumer Finance

For any ‘buy now, pay later’ experience, lenders and customers alike are seeking a quick, seamless decision regardless of the channel. However, financing for consumer goods and services carries the potential for disputes. Often, these purchases are not on the forefront of consumers’ minds—and the collection process presents challenges. Lenders seek ways to streamline the collection and transmission of customer information while making the experience easier for the customer through self-service integration. An integrated solution streamlines the process—from application to rules to decisioning—quickly and efficiently, no matter the channel.

How Oracle Can Help

Oracle Financial Services Lending and Leasing delivers powerful self-service capabilities via multiple channels, whether to support processes as simple as address changes or more complex functions, such as changing payment schedules or activating self-healing collections programs. These capabilities are a win for the customer and lender—delivering a modern customer experience, boosting efficiency, and reducing risk.

Oracle Customer Success Story

An unsecured asset finance provider was looking to transform the digital channel—and needed a configurable and integrated end-to-end loan system. They sought an efficient decision engine that powered automated, accurate, and reliable servicing and accounting to provide efficient collection, revenue recognition, and portfolio analysis.

For this transformation, it selected and deployed Oracle Financial Services Lending and Leasing and achieved the below results:

  • Increased capability to offer other consumer products to customers
  • Reduced IT complexity and management costs associated with maintaining multiple platforms
  • Improved process and data integration across origination, servicing and collections functions

Vacation Ownership/Timeshare Finance

The vacation ownership finance market is complex—with changing promotions, varying billing frequencies, and multiple fees, lenders require agility and efficiency. Owners experience is a top priority—and a complete, 360-degree view of each portfolio is critical to customer satisfaction and operational efficiency. With a myriad of variables—annual expenses, monthly expenses, multiple brands—a consolidated view of each owner is critical.

How Oracle Can Help

With Oracle Financial Services Lending and Leasing’s Servicing module, lenders can manage all owner information in a centralized location to assure data integrity and simplify customer service and management processes. A unified customer record with a common relationship view across all financial products empowers the lender to provide better customer service, quickly resolve queries, and improve productivity.

Oracle Customer Success Story

The largest timeshare lender in the world supported the financing of various brands and aimed to improve operational efficiency for its owners with multiple mortgages, maintenance, and homeowner association accounts. Simultaneously, it needed to manage securitization portfolios while enhancing customer self-service and reducing delinquencies. A transformation of an inflexible, high-cost internally built system was key to improving customer service across all brands while reducing operational costs throughout its servicing and collection departments.

The company needed a configurable, real-time solution with integrations to many internal systems, including the reservation and inventory systems—and it selected and deployed Oracle Financial Services Lending and Leasing. The servicing and collections modules support greater operation efficiencies, enhance customer retentions, and offer better reporting for revenue recognition and portfolio analysis. With Oracle Financial Services Lending and Leasing, the company achieved the below results:

  • Reduced manual transaction processing
  • Increased efficiencies through self-service capabilities and credit/debit card processing
  • Boosted customer service experience
  • Improved near real-time workflow for improved receivable management activities to identify high-risk customers