Wrights Services

Voluntary Termination Management

Take control of your Voluntary Termination Process

We recognised the need to allow lenders to take control of their Voluntary Termination process. Something that has remained a mechanical process since the introduction of secured lending. The Voluntary Termination process is lengthy and time consuming to a lender and in almost all cases results in a significant loss to the finance provider. RADR’s objective was to develop a technology solution that remained both compliant to the regulator, offered transparency to the end user whilst reducing financial losses to the lender.

 

 

State of the Art Technology

VT Validate is a Web based Application designed and engineered for use on mobile devices such as Tablets and Smartphones?

Development of new decision engines and cost matrix allows us to accurately determine vehicle damage at point of Voluntary Termination.

 

VT Validate allows a lender to engage with customers promoting brand reputation providing customers with a fair and transparent customer journey (TCF).

 

Innovation

VT Validate is an industry first Fintech innovation release early 2018, which enables a lender to take control of the Voluntary Termination process. VT-Validate makes the customer accountable for damage to the vehicle and facilitates the lender in recovering losses in relation to de-hired damage.

The solution stops a customer from being able to just ‘hand back’ a vehicle they have damaged because they have paid 50% of the agreement.

 

The product proves compliant to the regulator, offers transparency to the end user by providing a “True Cost” of Voluntary Termination, and mitigates end of cycle losses for the lender. Our De-hire charging matrix is fully customisable and is tailored to all lending streams. We can even set specific parameters on what is and isn’t charged, placing you more in control.

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