In many cases of sales of high value products (for example, cars), a decisive factor in the success of the sale is the financing of the product to be sold. So, it is important that during the negotiation phase with the merchant’s salespersons, they are in a position to immediately provide the potential customer with one or more financing proposals. These proposals should be clear, financially attractive and easy to manage until the final agreement is concluded.
In recent years, we are experiencing the requirement for financing goods of lower but not insignificant prices, such as white appliances, home or office equipment, etc.
Even more with the emergence of fintech companies, solutions are also being provided at the micro-loan level. For example, 700€ or 1,000€ to buy a new mobile phone, etc.
The current trend requires that merchants should be able to provide financing proposals to their prospective customers directly and easily through their connection with financial institutions.
Whether we are talking about large or small values, the common denominator is that in addition to the first step of selling some good, the merchant will have to perform a "second step" to provide a financing proposal. Usually, the merchants will open the web application of the bank of their choice (really, by what criteria do they choose bank A or B? We at E-ON INTEGRATION know several criteria or reasons...) or "POS" as they are usually called and enter from scratch the customer's details, the intended sale’s cost data, etc. The situation is complicated if there is a second option for financing from another bank which has another system and other rules, other requirements etc...
At E-ON INTEGRATION we have worked for the last 20 years and continue to work with both Sales Systems and Banking Applications. We talk to both merchants and banks and we know everyone's aspirations.
We "unite" the two worlds. So starting from the sales process (let's say the sales CRM of the merchant, which has all the necessary data of the customer and the goods to be sold), an automated financing process will be initiated. This way the work becomes simpler and the customer's experience is ultimately improved, since the process will be faster and the pre-approval of the loan will be immediate.
Banks are starting to open their systems to the outside world, through web services, and merchants need to embrace the opportunity for new investments in the area of fast finance, buy-now-pay-later, micro-financing, call it what you will. At E-ON INTEGRATION we are technologically ready to provide such solutions for both sides. With our E-ON RIX product for merchants of all kinds and with our E-ON EPI product for banks and fintech companies.