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Retail and Commercial Bank

Listed Holding Company FirstRand Limited, JSE:FSR. Retail and Commercial Bank. Corporate and Investment Bank. Instalment Finance. Investment Management. Apply for finance 1) Visit branch where client banked. 2) Apply for an extension on homeloan or a personal loan.

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Retail and Commercial Bank

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  1. Listed Holding Company FirstRand Limited, JSE:FSR Retail and Commercial Bank Corporate and Investment Bank Instalment Finance Investment Management

  2. Apply for finance 1) Visit branch where client banked. 2) Apply for an extension on homeloan or a personal loan. 3) Application was done verbally to the Bank Manager.

  3. Credit Decision 1) Bank Manager decided if client deserving of further credit. 2) No intelligence or science. Apply for finance 1) Visit branch where client banked. 2) Apply for an extension on homeloan or a personal loan. 3) Application was done verbally to the Bank Manager.

  4. Contracting 1) Bank Manager draws up hand written contract for client to sign.

  5. Payout 1) Customer had to pay the dealer. Contracting 1) Bank Manager draws up a hand written contract for client to sign.

  6. Customer Experience 1) Processes were neither customer nor dealer centric. 2) All processes were manual. 3) Finance was a protracted process

  7. Apply for finance 1) The emergence of a secured vehicle finance. 2) Go to any branch where client banked. 3) Filled in a pre-printed paper application form.

  8. Apply for finance 1) The emergence of a secured vehicle finance product. 2) Go to any branch where client banked. 3) Filled in a pre-printed paper application form. Credit Scoring 1) WesBank introduced a manual credit scorecard. Limited to Private Individuals Scorecards based on 10 characteristics from an available 105 Scorecard limit R100 000 Banks had to ‘phone credit bureax for credit checks.

  9. Contracting 1) Pre-printed contract manually completed and signed at the bank.

  10. Contracting 1) Pre-printed contract manually completed and signed at the bank. Payout Bank paid dealer by cheque. Cheque was hand delivered to the dealer.

  11. Contracting 1) Pre-printed contract manually completed and signed at the bank. Payout Bank paid dealer by cheque. Cheque was hand delivered to the dealer. Customer Experience 1) Process was more streamlined but still took a long time.

  12. Apply for financeWesBank pioneered finance consultants on the large dealer floor. Client filled in a paper application on the dealer floor. Application collected by Marketer.

  13. Credit Scoring Computerised Scoring introduced. Banks bad to ‘phone credit bureaux for credit check. Scorecard Based on 15 characteristics from an available 180 Scorecards extended to: Self employed Small companies Scorecard limit R350 000

  14. Contracting Computer generated contracts delivered to and signed at the dealership.

  15. Payout Consultant on the dealer floor would write out a cheque for the dealers, or cheque physically delivered to the dealership.

  16. Customer Experience Much more efficient experience for both the customer and dealerand within a reasonable time.

  17. Apply for Finance F&I concept pioneered by WesBank: Focus on back end income Performance Groups F&I business manager recruitment F&I business manager training Performance management of F&I Introduction of Fax technology. Pre-printed applications manually completed and faxed to centralised Marketing Support Centre.

  18. Credit Scoring • Automated links to Credit Bureaux introduced. • Behavioural account information obtained from FNB. • Scorecard based on 20 characteristics from an available 400. • Scorecard limit R500 000

  19. ContractingComputer generated contract faxed to dealership and signed by client.

  20. ContractingComputer generated contract faxed to dealership. PayoutDealer settled by Electronic Funds transfer.

  21. ContractingComputer generated contract faxed to dealership. PayoutDealer Settled by EFT. • Customer Experience • Fast & efficient processes. • Highly customer and dealer centric.

  22. Apply for finance F&I loads and submits digital application via a Vendor system

  23. Apply for finance F&I loads and submits digital application via a Vendor system Credit Scoring Full electronic integration with Home Affairs, Credit Bureaux, Deeds Office, CIPRA and other banks. • Scorecard based on 100 characteristics from an available 3000. • Scorecard limit R1 000 000

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  25. Contracting • Contracts signed on iContract24/7 • any place in the world. • iContracthas cut down contracting • time from 30 minutes to 10 minutes.

  26. Contracting Contracts signed on iContract 24/7any place in the world.iContract has cut down contracting time from 30 minutes to 10 minutes. Payout Payout Once the transaction has been concluded, dealers use iPay to pay themselves.

  27. Contracting Contracts signed on iContract 24/7any place in the world.iContract has cut down contracting time from 30 minutes to 10 minutes. Payout Payout Once the transaction has been concluded, dealers use iPay to pay themselves. Customer Experience Customer Experience Customer & dealer experience highly innovative and the ease of doing business radically improved.

  28. WesBank LIVE IVR Interactive Voice Response Customer Self Help Dealership Self Help NATIS Self Registration The data revolution IDX IDX Bank Statement Sharing Settlements by SMS Always on finance

  29. Thank you.

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