Finance Now

Summary

• Sending private information including credit cards in the mail.

• Utilising the New Zealand Post PAF file required manual intervention.
• Addressfinders address verification made an ‘immense’ difference.
• Finance Now can now depend on receiving accurate address data.
• Resource savings have allowed more focus on customer experience.

Background

Finance Now has developed a wide range of finance products to suit whatever your needs may be, from retail to personal loans (secured or unsecured) to business solutions. They are a New Zealand local company which is 100% owned and operated by Kiwis. Over 530,000 Kiwis have utilised Finance Now’s personal, quick, hassle-free financial products and services.

The Challenge

Finance Now sends out private information in the mail to their customers, including credit cards. This creates a need for them to ensure they are receiving accurate and reliable address data.

Before using Addressfinder’s address autocomplete, Finance Now were relying on the quarterly PAF file from New Zealand Post being updated. They used legacy coding to return a true or false back if the address a customer entered matched an address from the list. Using this method, they found that various addresses which existed but NZ Post didn’t deliver to were being put into their “bad address queue” and required manual intervention.

The Solution

Before

• Reliance on quarterly PAF file updates
• Legacy coding
• Costly. Time and resources spent sorting through bad addresses regularly
• Only one dataset

After

• Access to address data from five different verified sources

• Accurate address data that can be relied on

• More time to focus on customers

• Improved customer satisfaction

The Result

Finance Now implemented Addressfinder in 2015 and the impact our address validation service has had on their business has been “immense”.

They have been able to rely on receiving accurate and reliable address data, which has freed up a lot of time that was previously spent sorting through the “bad address queue”. Having additional time available has meant Finance Now can focus more on their customer’s applications which in turn bolsters customer experience and greatly benefits their business.