Zoot white paper provides industry insight to instant prescreen capabilitiesMortgagePress.cominstant prescreen, acceptance rates, Prescreen-of-One
Offers strategy to acquire and retain qualified
customers in a challenging market
Zoot, a provider of credit
decisioning and loan origination solutions, announced the release
of a white paper titled, "Operational Excellence: The Prescreen
Revolution."
Analyst firm TowerGroup
predicts that, in response to market changes, lenders in 2008 will
need to reform every aspect of their credit operations, including
the adoption of more innovative business strategies. Zoot's white
paper introduces new approaches for selling more credit products in
today's volatile market.
The white paper offers insight into instant prescreen as a
viable strategy for increasing acceptance rates of credit products.
Most traditional acquisition strategies, such as direct mail
prescreen, require large financial investments and are increasingly
ineffective and inefficient. A solution that capitalizes on an
institution's existing customer base is necessary, and having the
technology to support this is critical to the success of the
institution in 2008 and beyond.
"Zoot's instant prescreen solution, Prescreen-of-One, has
allowed financial institutions to consistently achieve acceptance
rates around 20 percent, which is 40 times higher or nearly a 4,000
percent increase in the typical response rates for direct mail in
any industry. The cost of implementing instant prescreen is more
than offset by the additional revenue that it drives, making the
[return on investment] tangible within months," stated Tom Johnson,
vice president of product development at Zoot.
For more information, visit www.zootweb.com.
