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PERTH, AUSTRALIA, April 09, 2013 /24-7PressRelease/ -- Since the 1st of March this year, new legislation saw all Australian short-term lenders experiencing additional processing and paperwork. The new law means that all lenders who are offering SACC (Small Amount Credit Claim) are:
- Reviewing 90 days' worth of banking statements for first-time customers applying for a SACC.
- Reviewing 90 days' worth of banking statements, when a customer applies for their 3rd SACC.
- Ensuring that fees are capped; customers cannot be charged more than the total amount borrowed.
While CASH2GO was successful in implementing the new laws, they were busy collecting feedback from their customers and team to find ways to keep their online processes short and continue to maintain a high level of customer service.
Chief Operating Officer, Lucy Auchincloss says:
"It's been without a doubt, the most challenging month for the company. It's easy to cheer our team on when the going is good, but when the going gets tough it's a true test of our team's attitude and skill set and for the month of March, we praise them for their phenomenal efforts. With feedback from customers and our team, we have been able to make changes of our own to eliminate uploading lengthy paperwork and be able to continue to process applications within our target".
The lending laws may have pushed company targets back, but CASH2GO have taken a step forward to uphold their reputation as one of Australia's favourites in the lending industry by:
- Hiring and nearly doubling their customer support team in order to accommodate for the rise of applications and document viewing.
- Improving the steps to processing and approving applications, so that customers receive same day payment.
- Offering instant bank account statement verification automatically, so customers won't have to scan or email bank statements manually.
- Introducing customers to directly upload documents online to cancel out time from sending emails.
2013 has already been marked as a success for the quickly growing lending service. CASH2GO won the Australian Gold Customer Service Award, where thousands of customers anonymously nominated their favourite service. With happy and constructive feedback the next project is currently underway for CASH2GO. The technical support team are hoping to increase customer convenience by enhancing their online application form in the upcoming weeks.
To read more about the 1st of March short-term lending legal changes you can visit the CASH2GO blog.
CASH2GO is a trading name for First Stop Money, one of Australia's leading lenders. Nationally known for being responsible lenders, their aim is to provide short-term cash solutions to temporary financial worries.
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