September 2009
KELLYBUCKS LAUNCHES NEW RETAIL KIOSK MAKING SMALL LOANS MORE ACCESSIBLE
When Meridian Mississippi based KellyBucks wanted to launch an innovative new small loan delivery system that combines the easy access of a retail location with the convenience and privacy of Internet-based lending, they turned to TranDotCom for support.
KellyBucks needed a technology platform that could automate self-service functionality without compromising underwriting risk for its new freestanding kiosk Service Access Terminals. TranDotCom's industry-leading Loan Management System provided the perfect solution to validate consumer application information, perform proven risk assessments and integrate all loan documents into this unique delivery system. KellyBucks currently has eight Service Access Terminals in retail locations throughout Mississippi and Alabama, with a plan to increase to 50 units over the next twelve months and then to eventually expand nationally. TranDotCom also handles all customer support functions and collections issues through its Call Center operation allowing KellyBucks to focus on distribution growth and marketing.
"We chose TranDotCom as a technology partner because they are a proven industry leader that really understood our business and fit into our budget" said Janet Kelly, Founder and CEO of KellyBucks. To support the rollout, KellyBucks required a quick startup, asking TranDotCom to accomplish what normally takes a 30 day timeline in just two weeks. The TranDotCom team worked closely with the company to define all of the loan features, underwriting rules, loan document preparation and integration of the platform into KellyBucks' system seamlessly. "The TranDotCom staff was a group of true professionals. They communicated extensively with our team every step of the way and their experience really instilled a great deal of confidence in their abilities as a partner on this undertaking" said Kelly.
The Service Access Terminals consist of a free-standing kiosk with a flat screen monitor and keyboard which allow a user to securely log onto a web-based loan application and apply to borrow up to $300 in $100 increments. Once approved, loan proceeds are deposited electronically into the borrower's checking account.
"We are pleased that the integration of this product worked so smoothly" said Andrew Rains, Executive Vice President - Sales and Marketing, TranDotCom. "We look forward to supporting KellyBucks' growth as they expand this service geographically and we are confident that our proven flexibility will also provide them with the ability to grow in other loan product offerings in the future such as line of credit or installment loans."
Janet Kelly, founded KellyBucks in 2008, and operates the women-owned small business with her partners Jackie Crocker and Linda Rolison. Kelly is a multi-faceted entrepreneur with roots in the real estate business, and also owns Creative Mortgage Company and Access, a digital advertising company that produces and places advertising on a network of retail kiosks.
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