How We Offer Customer Finance
Monday August 17th, 2020
So, you’ve decided you want to offer your buyers one or more options for customer finance. We don’t blame you – being able to offer and promote your own range of customer finance solutions is a fantastic way to grow your sales figures, profits, and business.
It’s also a proven driver of increased customer satisfaction and retention rates, and has been shown to significantly reduce the likelihood of basket abandonment at point of sale. In fact, research shows that up to ⅓ of UK shoppers are more likely to spend with a retailer that offers finance, and as many as 78% are more likely to return after a positive financing experience.
Customer finance being such a powerful tool, you’d be forgiven for assuming that setting up a range of options for your retail business must be a complex process. Well, we’re pleased to reassure you that with Duologi on your side, it absolutely needn’t be.
In fact, we pride ourselves on making the procedure as straightforward as we can for you and your business, be it physical or entirely online. When you partner with Duologi to offer popular customer finance solutions like 0% interest or Buy Now Pay Later, you can be fully up and running in just a matter of days.
Let’s talk briefly about how it works.
Who is Duologi?
We’re a forward-thinking finance and payment partner that – like you – understands the importance of the user experience above all. In practice, that means we’re dedicated to creating a more individual, personal and flexible approach to customer finance than used to be the norm in our industry.
We make it our business – and yours, by extension – to build just the right payment solutions for your business, your products, and your buyers.
Our diverse team brings together a broad range of highly experienced specialists from across all relevant sectors. In keeping with today’s customer expectations, that includes finance leaders, technologists, digital marketing experts, and data analysts from a wide variety of backgrounds.
The result is a complete customer finance package that fully embraces the growing importance of online and cross-platform payment solutions, focused on simplicity and functionality for you and your valued clients.
What will my customers’ finance process look like?
The Duologi approach is designed from the ground up to offer a seamless and straightforward customer finance solution for you and your customers. The core aim is always helping your business to grow – and to that end, we provide:
A simple, backend-managed application process
At checkout, your customer will fill out the shortest fully-FCA compliant application form in today’s financing market. (Their relevant checkout information is pulled directly through to the form, meaning they’ll only have five additional fields to complete.)
Quick decisions using cutting-edge financial data tech
The customer will receive a decision on financing in as little as four seconds, meaning they’re never hanging about to complete a purchase. If the application is approved, they simply leave a deposit and take away/await delivery of the goods or services they’ve purchased.
No impact on your cash flow
Duologi then settles the total amount owed to you in full, paid straight into your business account by us. You’re never left out of pocket, as the customer fulfils their payment plan directly with us over the agreed timeframe.
What other customer finance support will my business receive?
As part of our complete approach to customer finance solutions, we also support your business with:
A dedicated point of contact
Partnering with Duologi means you’ll always have a named support expert on hand whenever you need them – no need to deal with third party brokers, banks or outsourced tech firms.
Bespoke customer finance package options
We know that a one-size-fits-all approach seldom ends up fitting anybody especially well. In addition to our ever-popular 0% Finance and interest-bearing models, we’re always happy to discuss putting together a unique multi-tier package that better matches your individual business and customer needs.
The power of real data and marketing support
Our team includes specialist data experts to help you deep-dive into using your customer finance options more effectively. With smarter and more cost-effective marketing insight to promote your new range of services at point of sale, we can help you reach your ideal customers faster, at much lower expense.
Fully integrated tools and tech
Our range of powerful data protection, anti-fraud and customer experience apps and plugins work directly with your existing website or mobile platform. We’re all about peace of mind and ease of access, both for you and your customers.
Flexible subsidy options
The subsidy we receive in exchange for our suite of services can be offset in multiple ways. You can either choose to subsidise the interest on a 0% credit option yourself (which tends to be more attractive to customers), or you can pass some/all of it on to the buyer in order to retain optimal margins for every transaction.
A personalised and human approach
Getting to know you and your business on a personal level is where the Duologi approach always begins. We’re always happy to answer any general questions or queries you might have, with no obligation either way. If you’re still unsure whether or not customer finance options will work for your particular setup, feel free to contact us any time for a general conversation about the type and size of retail business you’re running.