Previously, there were two financing strategies for manufacturers: vendor partnerships and traditional captive finance companies.
Today, QuickFi enables a new option: a 100% digital, 24/7, nearly instant embedded finance captive controlled by the tech company or manufacturer.
QuickFi enables technology companies and original equipment manufacturers (OEMs) to establish a North American captive business equipment loan and lease capability without expensive software or financial systems and without hiring dozens of specialized finance employees. QuickFi provides a complete, end-to-end solution, enabling the OEM to control the customer financing experience and facilitate customer lease and loan transactions nearly instantly at the OEM, dealer, or eCommerce point of sale.
The QuickFi embedded finance platform dramatically improves the customer buying experience, creating additional manufacturer revenue opportunities and unlocking massive marketing and repeat business potential.
McKinsey & Company predicts that OEMs, fintech companies, and banks will collaborate to establish embedded finance delivery models (See McKinsey & Company Chart, below).
QuickFi delivers all the benefits of a traditional manufacturer captive finance company without the cost, risk, or complexity.
Additional QuickFi benefits include:
- Improved Customer Experience – With QuickFi, manufacturers can provide customers with a seamless, 100% digital, nearly instant financing experience. QuickFi makes manufacturers easier to buy from, creating meaningful marketplace differentiation.
- Manufacturer Control of the Customer Experience and Lease or Loan Terms – Because traditional financing processes are often the weakest aspect of the customer equipment purchase experience, manufacturers can significantly improve the overall purchase experience by adopting QuickFi. QuickFi enables OEMs to control the customer financing experience, including the terms and conditions of the lease and loan contracts, to ensure equipment purchasers experience prompt, fair, transparent financing that reflects positively on the manufacturer’s brand and marketplace reputation.
- Enhanced Repeat Sales – QuickFi makes it easy for equipment customers to obtain loan and lease financing to acquire new equipment. Repeat transactions may be facilitated in minutes, allowing a manufacturer’s best customers to transact seamlessly for additional equipment acquisitions as needed. Because the manufacturer controls the QuickFi platform, credit data regarding customer credit and payment performance is available for manufacturer marketing and sales initiatives. Watch a QuickFi Customer Testimonial
- No Risk or Capital Investment Required – QuickFi enables OEMs to fund customer leases and loans with manufacturer capital or third-party banks and finance companies. With QuickFi, the manufacturer controls financing offerings and service levels, even if the capital comes from third-party banks. This means the manufacturer can control the entire customer equipment purchase experience, including leases and loans completed through QuickFi at the point of sale (direct, dealer, or eCommerce).
- Manufacturer Captive Finance Company Option – Interested OEMs using QuickFi can quickly transition from third-party bank financing to establish a 50-state U.S. (plus Canada1) captive finance capability (enabling the OEM to lend its own money). Without purchasing costly software or hiring dozens of sales, operations, credit, collections, accounting, and compliance professionals, an OEM using QuickFi can offer 50-state U.S. (plus Canada) financing through the 100% digital, QuickFi embedded finance platform.
- Treasury Flexibility – The output of the QuickFi platform is digital chattel paper, which is deposited securely in a manufacturer’s digital vault. The terms and conditions contained in the digital chattel paper are widely accepted among banks and finance companies. QuickFi digital lease or loan transactions (from $5 thousand to $5 million each) may be easily transferred to US banks for over-exposure, credit management, capital replenishment, or risk management reasons. For manufacturers that use QuickFi to operate a captive finance business, the manufacturer may wholesale loans and leases to third-party banks and finance companies while maintaining the servicing of those loans and leases (still serviced in the manufacturer’s name) on the QuickFi platform. In addition, securitization is available as a wholesale funding option for OEMs operating a captive finance company on QuickFi.
QuickFi has an average TrustPilot score of 4.9 on a scale of 5.0. QuickFi dramatically improves the buying experience for customers who acquire equipment.
OEMs using QuickFi gain access to valuable customer credit data, which significantly improves their capabilities for future AI and marketing initiatives.
QuickFi is the only embedded finance solution for global OEMs seeking a full-service digital platform with a presence in 50 states and Canada.2
QuickFi requires no upfront cost and no long-term contractual commitment. QuickFi costs less than one-third (1/3) per completed financing transaction compared with the per transaction cost of processing the same transaction on the traditional delivery model.
Accenture, Bain & Company, and McKinsey & Company have advised banks and global OEMs regarding the dramatic potential for embedded finance to transform business equipment financing.
Over the next five years, embedded finance for SMEs will displace traditional sales distribution models. Bain and Company suggest, “Demand [for embedded finance] will grow because the proposition promises to improve customer experiences and financial access, along with providing cost-reduction.” Now is the time for banks and OEMs to decide how to offer embedded equipment finance, according to Bain.
Request information about implementing a revolutionary, new, 100% digital, nearly instant, embedded equipment finance solution.
