Written By Andrew MacDowell, Director, DecisivEdge™
HVAC Lending is a complex business. The challenges of increasing competition, equipment obsolescence, and repossession are offset by a strong demand as homes expand in total square footage and temperature volatility drives the need to constantly improve HVAC technology. These dynamics call for the need to ensure your lending platform has the features and functionality required to service growing demands of your customers and dealers.
There are many lending platforms on the market to choose from, but which ones are the best? The answer to that question will vary depending on who you speak with.
A few key features to consider when searching for a new lending platform:
- It automates many, if not all manual processes.
- It is flexible and provides HVAC lenders with a platform that can adapt to new markets/conditions.
- It has the capability to integrate with your existing decision engine.
- The user interface is crisp, clean and displays only pertinent information required.
- It can be delivered in the cloud.
- With comprehensive functionality for dealers, the solution provides seamless integration between lenders and dealers.
Once you narrow down your platform search, make sure you and your team are diligent about selecting the right technology partner to implement the solution. You will want to ensure the prospective implementation partner has the expertise to achieve both technical and servicing requirements. Click here to read a great article by DecisivEdge™ President, Sukumar Narayanan, on how to select the right technology partner,
The DecisivEdge Lending and Leasing as a Service (LLaaS), Powered by Oracle, is a cost-effective way for small and medium sized HVAC lenders to leverage the capabilities of a world-class solution. HVAC Lenders are a perfect fit for LLaaS.
We know your business well and are currently onboarding a predominate HVAC company in the industry.
I hope you enjoyed this post. If you are experiencing some or all of these issues with your current lending platform, I would love to hear from you. Please please click here to learn more about our lending and leasing services and solutions or feel free to contact me directly at email@example.com.
About the Author:
Andrew MacDowell has over two decades of senior management experience in the credit card industry with Fortune 500 financial institutions such as MBNA Corporation and Bank of America.
Andrew has specific expertise in areas such as Business Development, Loyalty Marketing, Corporate Project Management, Bank Operations, Payments, and Fraud. Most notably, Andrew was a key founding stakeholder of MBNA Canada during its peak growth phase in the Canadian marketplace, which ultimately led to it becoming the largest MasterCard issuing bank in Canada.
Andrew is a graduate of Georgian College where he holds a diploma in Business Administration and majored in Marketing Management.