Auto Finance FAQ

Auto Finance Outsourcing FAQ

Advantages of Outsourcing in Auto Finance Industry

Q: Why do auto finance companies and subprime lenders outsource their print and mail?

A: Those in the auto financing business, especially sub-prime lenders, face tough challenges in today’s fast-paced, highly regulated lending environment. Much of your success depends on the quality and effectiveness of communications, such as letters, notices, and statements.

Having a print-mail company with nearly 40 years of experience, like FSSI, including extensive auto finance experience, helps you reduce the cost and risk of acquiring and servicing customers, and facilitating timely payments.

Q: What are the main reasons auto finance lenders outsource with FSSI?

A: There are three primary reasons auto finance companies choose FSSI as their outsourcing vendor. One of the benefits of outsourcing printing is our industry experience. We’ve worked extensively with auto finance firms of all sizes and specialties and currently partner with Shaw Systems to serve and support many clients. The second reason is our compliance controls. When you work with FSSI, you’re assured of a production environment that employs the latest data security and handling technologies. Thirdly is our exclusive, turnkey print-mail solution for auto finance clients. No other print outsourcing vendor offers anything comparable. It’s discussed in more detail below.

Q: What does FSSI’s turnkey print solution for auto finance companies include?

A: FSSI offers a specially bundled, highly scalable solution just for auto finance companies.
It combines several powerful business-building tools into one convenient, easy-to-use platform that gives you greater control over your document, and in turn, the customer experience.

The standard bundle includes:

  • eStreamOne™–electronic statement presentment and payment. (including HTML and PDF formatted documents displayed using responsive web design)
  • letterStreamOne™–online print-mail fulfillment for letter and notice production, that includes free software programming and unlimited revisions.
  • workStreamOne™– Online job tracking and reporting that puts you in control of monitoring and managing document production.

For clients who want them, available compliance tracking and reporting options include:

  • Mailpiece Monitoring–This Lets you track each individual mailpiece throughout FSSI’s production environment and into the USPS mailstream.
  • Intelligent Mail Barcode (IMb®)–In January of 2013, the USPS introduced the barcode and mandated that it be included on all mailed pieces that qualify for automation discounts, replacing the familiar PostNet barcode. The code allows tracking of mail through the postal system and facilitates deeper USPS reporting.

Q: Does FSSI have much experience working with subprime auto lenders?

A: Yes, we have developed customized communication and payment solutions for many well-established and fast-growing subprime lenders. We understand the key business issues associated with subprime lending including, acquisitions, servicing and collections, and offer the tools and support needed for you to succeed in these areas.

Q: Does FSSI mostly work with large auto finance companies?

A: We do have several larger lenders as clients, but we also serve a number of up-and-coming small- and mid-sized companies. That’s the beauty of working with FSSI: you get “A-team” service, support and solutions, regardless of your size or industry tenure. Your challenges become our challenges and we welcome the opportunity to help you overcome them all.

Q: Which auto finance industry data providers can FSSI support/work with?

A: In terms of auto finance data handling, FSSI is “platform agnostic.” That is, we work with all major providers and are adept at developing reliable, accurate, regulatory compliant solutions for any data requirement. Examples of our integration experience include MegaSys; CMSI, DEFI, and of course, Shaw Systems.

Q: What types of auto finance documents and borrower communications are processed at FSSI?

A: As our clients’ go-to print and mail vendor, FSSI can securely process and deliver an extensive list of loan documents, including, but not limited to, the ones below. Email an FSSI auto finance specialist if you have questions about a particular kind of document or electronic correspondence:

  • Printed and electronic statements
  • Welcome letters
  • AA letters–TD and Conditional
  • RTC (right to cure)
  • One-time drafts
  • Annual privacy letters
  • Reinstatement letters
  • GPS/starter interrupt notices
  • SMS text messaging
  • Notice of intent to sell
  • Collection letters/NSF letters
  • Deficiency balances
  • RTC, NOI, and NSF notices
  • Cancellation and past due notices
  • Deficiency notices
  • Repo letters
  • Mobile presentment/payment

Q: What measures do you take to ensure regulatory compliance in document production?

A: Security is our top priority at FSSI. Clients rely on us to deploy and utilize the leading-edge data handling and workflow technologies that safeguard data throughout production. Click below to learn more about how we secure data and ensure compliant production.

Q: Do you share auto finance industry information on social media?

A: Our auto finance specialists are very active on social media. They regularly share and exchange industry-related information with a wide range of followers and friends on Twitter, LinkedIn, and other platforms. We follow (and are followed by) lenders nationwide, as well as numerous industry organizations and media.

To participate in our ongoing dialog, including receiving the latest tips, trends, and technologies for auto finance companies, follow us on Twitter at @FSSI_CA; and on LinkedIn.

Experiencing growing pains or simply looking for a more capable, experienced compliant provider? Take advantage of FSSI’s 30+ years of outsourcing experience.  Call 714-436-3357 today for no-obligation document production or data conversion consultation.  You may also visit   auto finance outsourcing for more information about outsourcing the processing and mailing of customer documents