Auto Loan Refund Processes Simplified Through Collaboration Between Onbe and Its Allied Solutions
In a strategic move aimed at helping clients prepare for the future, Onbe and Allied Solutions have joined forces to deliver a modern, choice-driven refund experience for borrowers in the automotive industry.
Through this partnership, Refund Plus® clients gain access to Onbe's digital payouts gateway, streamlining operations and reducing cost and compliance risk. This collaboration offers a future-ready refund strategy that minimizes manual labor, ensuring faster payment delivery with built-in audit trails.
The partnership delivers faster digital-first payments, eliminating the need for checks and improving customer satisfaction, brand perception, deliverability, and minimizing call center escalations related to late or lost payments.
Angelo Marchese, Director, Product & Vendor, Risk and Recovery Products of Allied Solutions, stated that streamlining the refund process is crucial due to evolving regulations increasing the burden on financial institutions. He further added that the partnership aims to modernize the automotive refund process for financial institutions, finance companies, dealerships, and their clients.
Melissa Hentschel, Chief Client Officer of Onbe, stated that digital payment options are most efficient for prompt refund delivery and provide a choice-driven customer experience. She emphasized that 88% of auto finance consumers find digital payouts more convenient than checks.
The Onbe-Allied Solutions partnership involves Onbe's corporate payouts platform and Allied Solutions' B2B financial services. The alliance enhances the existing solution with more tools, capabilities, and payment choices, making it user-friendly and efficient.
Allied Solutions' Refund Plus® solution supports refund issuance after the cancellation of aftermarket products like Guaranteed Asset Protection (GAP), Vehicle Service Contracts, and Credit Life & Disability. This partnership aims to help clients prepare for the future, delivering a modern, choice-driven refund experience for borrowers.
Overall, this alliance sets a new standard for efficiency, accuracy, and customer experience in automotive finance refund operations. It benefits automotive lenders by reducing operational burden, lowering costs, and minimizing errors. Dealerships benefit by focusing more on their core activities, while customers enjoy increased satisfaction, loyalty, and choice in receiving refunds, such as through digital options like virtual cards.
[1] Source: Onbe Press Release [2] Source: Allied Solutions Press Release
- By partnering with Onbe, Allied Solutions' Refund Plus® clients now have access to Onbe's digital payouts gateway, allowing for faster, digital-first payments in the automotive industry, which can help reduce costs, manual labor, and compliance risk.
- The collaboration between Onbe and Allied Solutions offers a future-ready refund strategy, employing technology to modernize the automotive refund process, catering to financial institutions, finance companies, dealerships, and their clients, providing them with a more user-friendly, efficient, and choice-driven solution.
