Those operating in the consumer finance arena – both mortgage bankers and finance companies - face enormous competition armed with state-of-the-art technology and marketing resources. Price competition with increased industry regulation has caused thinner profit margins that can only be offset by improving operational efficiencies. Shrinking top line opportunities in a highly commodified market requires organisations to differentiate with premium service.
Successful organisations in this marketplace realise that they need to refocus their efforts to strategically align their organisations, build more cost-effective operations and attract the highest quality credits through feature rich products and enhanced customer experience.
Radium Communications helps consumer finance and mortgage companies identify their most rewarding opportunities and ultimately develop and implement sound solutions to capitalise on these opportunities. Expert consultants come from positions within consumer finance, mortgage banking and other financial institutions across the globe. Starting with a review of the client's vision and objectives, Radium Communications assists management in designing business functions and process that enhance customer experience, optimize profitability, productivity and product quality. Specific programs with consumer lending organisations include the following:
- Radium Communications’s Customer Experience Optimization (CxO) Process comprised of analysing current experience, defining and implementing the desired experience.
- Design and implementation of front office solutions focused on enhancing revenue opportunities.
- Designing and implementing organisational structures and management process to more effectively focuses on growth and product/service delivery.
- Structuring customer-centered operating processes that improve service quality and customer experience while reducing costs.
- Designing distribution networks that focus on existing “best practices” of the company to improve service delivery and consistency.
- Implementing technology solutions that maximise overall business performance by integrating manual process and systems migration.
- Creating and conducting training programs that assure the maintenance of long term program benefits.
Radium Communications consultants then team up with management to provide the training and insight required for a smooth transition of new responsibilities and functions within the organisation.
Since its founding in 2002, Radium Communications has provided numerous companies with on-time, on-target, reliable results in the consumer finance sector.
A leading finance company needed to develop new methods of operating in order to maintain its leadership position in a rapidly changing market. In the end, the entire business was redesigned, including a realignment of the organisation to emphasize customer service. The results were dramatic – movement from a £3 to 4 million loss to a £23 million profit. Radium Communications consultants were asked to re-design a bank's mortgage operation to improve customer service and operating efficiencies. Sales and operating divisions were successfully integrated, resulting in a reduction of cycle times to funding of 35% and an increase in capacity of 25%.
Radium Communications created the organisational structure and associated processes for all consumer lending functions of a major bank. The results included the reduction of manpower by over 15% while at the same time while dramatically improving customer experience. Additionally, through the implementation of a new information/service management process, the bank positioned for dramatic growth and a national retail presence.
Working in conjunction with consumer finance and mortgage banking executives, Radium Communications consultants ensure corporate vision and objectives are carried out, achieving real solutions that create real results.
Streamlining the process of on-boarding a new prospective customer is key to closing sales. With Radium Communications you can quickly collect information about the customer and generate all the documents you need.
Loan Servicing Solutions
Radium Communications provides loan servicing companies a simple way to generate all of the loan documents needed for a deal with the click of a button. Generate the application, send it off for digital signature, and close the deal.
Wealth Management Solutions
Wealth management firms can automate the piles of documentation that need to be create when a client wants to open a new account, transfer funds, and more. In an instant, generate all the documents you need without having to copy and paste anything.