DNB: The DealerPad eSign
When DNB streamlined their contract process with DealerPad eSign, within weeks they eliminated errors completely and decreased payout times to car dealers.
Challenge: Competition is fierce in the car financing industry
Financial providers compete mostly on interest rates and commission, and DNB was looking for a game changer.
They looked to technical innovation and customer experience as differentiators for a solution that car dealers would choose above others when pitching to their customers.
Prior to DealerPad eSign, a customer had to go home after their store visit and wait 2-3 days to receive the printed contract by post. Once signed and returned to DNB, the contract had to be manually checked before DNB could remunerate the reseller.
In the 12% of cases where a contract was returned with errors, the entire process had to be repeated, leading to customer dissatisfaction, frosty car dealer relationships, and even customer regrets.
Result: The launch of DealerPad eSign brought dramatic results, quickly
Contract errors dropped from 12% to 0%, and payout times to dealers dropped from 5 days (or even weeks) to just 30 minutes.
But it was the greatly improved user experience for both end customers and car dealers, the actual DNB partners, that led to even bigger rewards: The partners quickly started to prefer using DNB’s products over the competitors’, resulting in increased sales and new major partnerships with automotive companies across Sweden.
Next, DNB brought DealerPad eSign to their home market in Norway, a process that wouldn’t have been possible without assistance from the Scrive legal team. Together, DNB and Scrive have managed to convince authorities to change legislation that hasn’t allowed electronic signatures for financial agreements.
Tesla formally recognized the DNB-Scrive partnership, naming it the world’s best financing experience for buying a new Tesla.
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