Alphabet delivers tool to automate funding decisions in minutes

LEASING broker funder Alphabet has significantly enhanced the quote and order process for brokers to help boost operational efficiency and accelerate the customer journey.

It follows the launch of Alphabet’s new credit management API (application programme interface). Alphabet says it represents a substantial upgrade to its existing plugin, first unveiled at the company’s Partner Relaunch event in June 2024.

Alphabet says the advanced functionality of the credit management API now provides Partners with a seamless end-to-end solution, enabling customers to request a vehicle quote and receive a funding decision too. This is facilitated using the API’s new automated fraud detection and credit check capability, which provides customers with an answer in minutes.

Richard Chadwick, Head of  Head of Indirect Sales for Alphabet (below right), says that brokers taking advantage of the new quote and order interface can now leave the office and let the tool work intuitively with their own system to register a customer’s interest and gain approval, during and outside of office hours.

He added:

“Our goal has always been to create solutions to help streamline the process for our partners and for their customers.

“The original quote and order interface enabled customers to choose their vehicle and request a quote, but to have the ability to accurately assess an individual’s creditworthiness in real-time, without the need for manual intervention, is a real game-changer.

“Both phases of the interface have been developed with ease of use in mind, so brokers’ systems can be easily integrated with our ICON fleet system. It requires minimal development to link two systems, which was an important factor.

“The feedback that we’ve already received has been extremely positive, which is a win-win for customers and brokers alike.”

Chadwick added that while the credit management API adds another layer of automation to the already sophisticated quote and order process, customers and brokers still have the option to speak with their customer service adviser to ensure they receive the support they need.