Customer Interaction Scripting Guide

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Questions and Answers

What must customers do to acknowledge the sections of their loan agreement?

Type their name only

Only check the box for Payment Choice Authorization

Erase the sections they disagree with

Check off each box and type their name (correct)

What is the first step the agent takes after the customer signs the loan agreement?

Click the 'Status Update' button

Read the loan terms aloud to the customer

Email the contract to the customer

Click the 'Read Terms and Conditions' button (correct)

Which format is required for stating the dates in the loan terms?

DD/MM/YYYY

MM-DD-YYYY

YYYY/MM/DD

MM/DD/YYYY (correct)

What is the correct phrase for stating dollar amounts in the terms?

Dollars and Cents Signup and view all the answers

What information must the agent state regarding the customer's annual percentage rate?

The percentage followed by 'Percent' Signup and view all the answers

What should happen if the customer cannot access the loan documents?

The agent must read the terms in advance Signup and view all the answers

Before sending funds, what must be done regarding the loan terms?

The terms must be read and understood Signup and view all the answers

In what form must the amount financed be stated?

In words and numbers Signup and view all the answers

What is the main purpose of leaving a voice message?

To follow up on an online inquiry Signup and view all the answers

Which of the following is true about the availability of assistance?

Assistance is available 24 hours a day, 7 days a week. Signup and view all the answers

What should an agent do when speaking with a customer?

Use the scripting guidelines until they are memorized. Signup and view all the answers

What is indicated by using the customer's name during a conversation?

The agent has verified the customer’s phone number. Signup and view all the answers

What does the scripting manual provide for agents?

Guidelines for various scenarios during customer contacts. Signup and view all the answers

Why is it important to have separate opening statements for outbound and inbound calls?

To tailor the interaction based on the nature of the call. Signup and view all the answers

What is an agent expected to do if they notice the caller is uninterested?

Adjust the pitch and tone to regain interest. Signup and view all the answers

What is the objective behind ensuring a seamless experience for customers?

To enhance customer satisfaction and loyalty. Signup and view all the answers

What can rewards points be redeemed for according to the information provided?

Gift cards or payment of principal loan balance Signup and view all the answers

What must an agent do when a customer opts for manual payments via personal check?

Read the manual payment terms VERBATIM Signup and view all the answers

What is required to state regarding the annual percentage rate (APR)?

It should always include the phrase 'percent' Signup and view all the answers

What format must all dates be stated in?

MM/DD/YYYY format Signup and view all the answers

What should an agent offer to a customer to avoid a lengthy approval process?

A lower APR for ACH payments Signup and view all the answers

What must an agent ensure before a customer signs the loan agreement?

That all terms are read VERBATIM Signup and view all the answers

What is the information that must be confirmed before processing the loan?

The last four digits of the account number Signup and view all the answers

What detail about the regular payment must be communicated to the customer?

It is the only payment required on the first due date Signup and view all the answers

What fees does (Portfolio Name) charge for its services?

No additional fees Signup and view all the answers

What is required for the customer to use Decision Logic for bank account verification?

Online banking access Signup and view all the answers

Which step is part of the Decision Logic process after the customer confirms access?

Logging into their online banking Signup and view all the answers

What should the customer see on the bank verification page after logging into Decision Logic?

A field to enter bank information and their bank's logo Signup and view all the answers

What happens if a customer does not have online banking access?

They should return after setting up online banking Signup and view all the answers

Which of the following accurately describes the security of Decision Logic?

No one sees the ID and password except the customer and their bank Signup and view all the answers

What must the customer do after entering their banking information on the verification page?

Wait for a success message Signup and view all the answers

What role does the six-character code play in the verification process?

It grants access to the verification page Signup and view all the answers

What consequences may arise from incorrectly setting a customer's pay schedule frequency?

Missed payments and potential customer default Signup and view all the answers

Which of the following statements is TRUE regarding hold times during customer verification?

New agents are advised to use holds for ease. Signup and view all the answers

What is the maximum number of days an agent can extend the effective date from the origination date?

10 days Signup and view all the answers

Which statement best describes the proper APR setting for monthly customers?

APR should be set at 500%. Signup and view all the answers

What should be confirmed regarding the customer's account for automatic payments during the loan details verification?

It must match the details in the application. Signup and view all the answers

What primary information must agents check when on the 'Verification: Loan Details' page?

Information automatically filled on the page. Signup and view all the answers

Which of the following best describes the agent’s role during the loan details verification process?

To ensure all details are correct for final approval. Signup and view all the answers

What is the primary reason for confirming the customer's pay date during loan processing?

To ensure payments align with their payroll schedule. Signup and view all the answers

Study Notes

Contact Scripting

Agents should listen for the customer's name in voicemails, as this indicates the message is for the correct person.
There are specific scripts for outbound and inbound calls.
Outbound calls should start with "Hello (Customer's First Name), we look forward to speaking with you soon. Thanks!"
Inbound call scripts should begin with "Hello (Customer's First Name), this is (Agent's Name) from (Portfolio Name). We had a conversation earlier today, and I wanted to follow up regarding your online inquiry. We are available 24 hours a day, 7 days a week to provide any further assistance you might need. When leaving a voicemail, listen for the recording to identify the customer name. This indicates which scripted messages should be left."

Customer Details

The scripting manual provides guidelines for various situations encountered during customer interactions.
Agents must follow those guidelines until they memorize the process.
Employment policy guidelines are crucial for verifying and updating customer data.

Payment Schedule

Agents must confirm the customer's payday frequency and payroll amount.
This information is key for setting up loan installments.
Inaccurate pay schedule frequency can result in missed payments, fees, and potential customer default.
Payroll information must match the customer's verified details.

Loan Details

Agents must verify loan details on the "Verification: Loan Details" page.
Information on this page determines the final approval and can be adjusted during negotiation.
Agents should confirm the customer's payday ("So, I am showing your following payday as (Customer’s Pay Date). Correct?") and verify if the account on file will be used for automatic payments.
A brief hold, not exceeding 2 minutes, may be necessary for underwriter review.
Longer hold times must be documented with the reason.

Loan Details: Effective Date, Principal, APR

The effective date reflects the date the customer receives funds, and cannot be extended more than 10 days from the origination date.
The maximum approval amount should be entered as the principal.
The APR should be set at 795% for weekly, bi-weekly, and semi-monthly customers, or 500% for monthly customers.

The Signing Process

Customers must acknowledge all sections of the loan agreement by checking the boxes and typing their name at the bottom.
The "Payment Choice Authorization" box should not be checked for manual payment customers.
After the customer signs the loan agreement, the agent clicks the “Read Terms and Conditions” button, and the funds are sent for processing.

Loan Terms

Terms must be stated verbatim, with dates in MM/DD/YYYY format and dollar amounts stated with "DOLLARS" and "CENTS" when necessary.
The agent must confirm the bank account details and state the last four digits, even if the customer has not yet verified the information.

Loan Terms: Scripting

The agent reads the loan terms aloud to the customer before they sign the agreement.
The agent must include the loan amount, payment amount, first due date, annual percentage rate (APR), and first payment due date.
The APR must be stated as a full number followed by the word "Percent" (e.g., Seven Hundred and Ninety-Five Percent (795%)).

Manual Payment Terms

Manual payment terms are read when the customer elects to make payments manually via personal check.
The agent should follow documented policy for mailed payments.
If the customer is requesting to mail in their payments, the agent must follow the documented policy.
Once Decision Logic is completed a member of management will review the Decision Logic and either approve or deny the customer.
To avoid this process, the agent must offer the customer a lower APR for ACH payments.

Additional Scripting

Scripts for scenarios not encountered in every customer interaction are included.
For example, if the customer does not have online banking and the agent needs to request Decision Logic, the agent should inform the customer about the limitations and encourage them to call back when online banking is available.

Decision Logic Scripting

Decision Logic provides instant account verification for loan approval.
It uses the customer's online account ID and password, and provides secure verification of their bank deposits.
The agent should guide the customer through the Decision Logic process, providing the necessary website link or mobile app instructions.
If the customer can access Decision Logic, the agent should direct them through the steps to complete the verification.
The agent should confirm with the customer once they have received the success message.

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Description

This quiz covers essential scripts for agents during customer interactions, including both outbound and inbound calls. It emphasizes the importance of listening for the customer's name and adhering to specific guidelines to ensure effective communication. Master these scripts to enhance customer service and engagement.