Sales
What two purposes are our customers unable to utilize our personal loans for?
2. Post secondary education (tuition, etc.)
What pieces of information do we need to request from the customer to fully identify them?
1. Name
2. DOB
3. Last 4 SSN (if available)
An individual calls in that is not yet a customer. They ask general questions about our loan process and express dissatisfaction about how high our rates can range. Is a Zendesk notation required?
Yes, as a complaint is present. If the non-member did not express dissatisfaction, a ticket would not be required to be submitted.
What is the difference between our interest rate and our annual percentage rate?
APR is the sum of the scheduled interest payments plus the origination fee expressed as an annual percentage. APR reflects the percentage of all scheduled payments applied towards interest and fees over the course of a year.
What are 3 of our main personal loan benefits?
1. No pre-payment penalty
2. Fixed terms
3. Simple interest
What components should be included in the call closing for a member we IDVed?
1. Offer additional assistance
2. Advising of the action(s) taken place on the call
3. Next Steps
4. Survey promotion
4. Online Benefit Promotion
What is the only REQUIRED macro we must utilize?
The Complaint Notation Template when notating a complaint
A customer had a loan with a balance of $40,000. The customer wants to apply for a second loan and is seeking an additional $20,000. What do we advise the customer?
"Unfortunately, our loan limit is $50,000 between both loans. Requesting an additional $20,000 loan would be $10,000 over what we can offer due to our limit, however, you can apply for any amount and we will be able to determine the highest amount you do qualify for."
When is the best time to ask sales-probing questions?
When requesting the loan amount and loan purpose during the application.
We are conducting an ABP for an existing borrower in which we discover the home address they provide us with is different than what is populating in the ABP. What action do we need to take?
Update their address in Support to ensure the new information is captured on their profile.
When do we need to not only notate in Zendesk, but also Spark?
When the customer is "Pending Activation" (in our verification stage)
What is our minimum credit score requirement?
We recommend a credit score of 640+ through TransUnion, however, we take into consideration a multitude of factors beyond our applicant's credit score.
1. Is this large purpose urgent?
2. Do you already have a quote for your large purchase?
3. Is there a specific monthly payment amount that would be most affordable for you?
What must we do to avoid a compliance fail if a customer makes a statement suggesting someone (like a spouse) conducted the application for them or intends to complete it for them?
Advise that legally the application MUST be completed by the individual that's name is associated with the application.
What situation would require us to make two separate Zendesk notations for one single interaction with a customer?
When a customer requests to OPT OUT and a complaint is present. The OPT OUT and complaint should be in two separate tickets.
A customer has had their loan out for 6 months and made their 6th payment on 9/15/24. When would the customer be eligible for a 2nd loan?
10/1/24.
We want to ensure the customer has had made at least 6 on time consecutive payments. We recommend applying on the 7th month. However, we never want to discourage our customers from applying, so they are still welcome to apply at any time.
A customer advised they are looking for a loan to pay off three 25% interest rate credit cards. They pay $300 a month for all 3 monthly payments combined. We make them an offer for their requested loan amount with a monthly payment of $200 with a rate of 25%. The customer advises she is not interested as our rate isn't better than her credit cards. What are two rebuttals we can provide?
1. Our rates are not comparable to that of a credit card, as we offer simple interest, which is applied differently than compounded interest
2. You are currently paying $100 more on your credit cards than with our loan, therefore, you could instead be continuing to apply the $300 you already are monthly, but towards our loan - to allow you to pay the loan off early and accrue less interest in the process.
When can we speak to a third party about a customer's application/account?
Only once the loan has successfully originated can we speak to a third party. We cannot speak to a third party during the application process, nor can we allow them to feed our borrower's information to provide us during the application.
The only exception is for a relay service for someone who is hearing impaired.
Is a Zendesk ticket required for this interaction?
Yes, as we have an indication the customer has a Support (member) profile with us due to their information populating in Five9. We are required to notate all interactions with customers, regardless of if we IDVed.
When does a our hard inquiry occur? In what cases can the hard inquiry be removed?
The hard inquiry takes place when the customer electronically signs the TILA.
The hard inquiry will only be removed if we confirmed fraud or if the customer was auto-cancelled during our verification process.