Credit Logix minimizes a major pain point for consumers of spending additional time at the dealership – an even bigger concern during COVID-19 – while helping dealerships decrease time spent on each deal and increasing profit per deal.
Digital Air Strike, the leading consumer engagement technology company, is honored to announce its Credit Logix technology won a Gold Stevie® Award and the People’s Choice Stevie® Award for Favorite New Product at the 18th Annual American Business Awards®. Digital Air Strike’s credit technology benefits both automobile dealers and consumers during the vehicle purchase process.
Credit Logix was awarded a Gold Stevie® Award based on high average scores from judges. The credit pre-qualification technology also won the People’s Choice Award for Favorite New Product after receiving the most online votes in its category. More than 87,000 votes were cast in the online competition.
During COVID-19, it is even more important for car buyers to have the ability to do more of the vehicle transaction process online. Credit Logix assists in virtual retailing by providing various credit application steps that enable pre-qualification online. The technology also leverages artificial intelligence to find the best available vehicles from the dealership’s inventory to match consumers to specific vehicles based on their unique credit capacity. This is all done virtually without ever having to speak to a salesperson or visit the dealership. Credit Logix streamlines the buying process. By matching vehicles to buyers, the technology has been proven to reduce the time it normally takes to complete financing paperwork on a vehicle purchase from an average of three hours to just 20 minutes or less.
Dealerships that use Credit Logix see a significant increase in per vehicle retail, the amount of money dealers can make per car. They also see a decrease in the time to fund the purchase which helps improve profitability. Additionally, the funding time is also reduced so dealerships get paid by the lender faster, cutting wait times from nine days, to five days or less.
“Consumers have long wanted to spend less time at a dealership and COVID-19 has turned that preference into a requirement,” said Alexi Venneri, co-founder and CEO of Digital Air Strike. “Credit Logix creates a very transparent and efficient consumer experience while minimizing a major pain point for consumers – all while increasing per vehicle profit for dealers as there is less price negotiation.”
The technology initially requires only a name, address and phone number, no Social Security number, for a soft credit pull. This minimizes any extra hits on the consumer’s credit score.
Credit Logix seamlessly integrates into Digital Air Strike’s Response Path AI-powered messaging platform, which immediately engages 24/7 with consumers by responding quickly to any messages. This technology is part of Digital Air Strike’s new Virtual Retailing Program, which allows businesses to interact and transact with customers using multiple mediums, including video, AI, social media, email, chat and SMS with AI automation.
Digital Air Strike joined other companies receiving awards for its technology, including Bank of America, RE/MAX, Humana and John Hancock. More than 3,600 nominations were submitted for this year’s American Business Awards.
“Despite the toughest business conditions in memory, American organizations continue to demonstrate their commitment to innovation, creativity, and bottom-line results,” said Stevie Awards president Maggie Gallagher. “This year’s Stevie-winning nominations are full of inspiring stories of persistence, ingenuity, resourcefulness, and compassion.”
Digital Air Strike’s technology has previously won many Stevie® Awards, including People’s Choice awards for Favorite New Product for its Mission Control Consumer Intel & Engagement Platform, Response Logix, Response Path and Mobile Review Surge.
About Digital Air Strike
Digital Air Strike is the leading social media, intelligent lead response, and consumer engagement technology company helping businesses increase consumer response and conversions in digital and social media environments while generating measurable ROI. A pioneer in digital response, social media marketing and online reputation management solutions, Digital Air Strike deploys industry specific mobile apps, software, intelligent messaging and managed service platforms to monitor, engage, improve and manage consumer interactions for thousands of businesses in the United States, Canada and 11 additional countries, including working with seven of the largest automotive manufacturers. More information is available at www.digitalairstrike.com and www.facebook.com/digitalairstrike.
About the Awards
Stevie Awards are conferred in eight programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, the Middle East Stevie Awards, The American Business Awards®, The International Business Awards®, the Stevie Awards for Women in Business, the Stevie Awards for Sales & Customer Service, the Stevie Awards for Great Employers, and the People’s Choice Awards for Favorite New Product. Stevie Awards competitions receive more than 12,000 entries each year from organizations in more than 70 nations. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about the Stevie Awards at http://www.StevieAwards.com.