Loanfirst.com Uses NativeMinds' Natural Language Virtual Representative Technology to Drive B2B Auto-Loan Business
11 September 2000
Loanfirst.com Uses NativeMinds' Natural Language Virtual Representative Technology to Drive B2B Auto-Loan Business
SAN FRANCISCO--Sept. 11, 2000--NativeMinds(TM), Inc., the leading provider of automated, natural-language customer service and sales representatives for the Internet, today announced that Loanfirst.com has signed a licensing agreement for the company's virtual representative technology. Loanfirst.com, a first-mover in providing an online forum for automobile dealers and lenders to do business, will use NativeMinds virtual representative technology on its site to answer dealer and lender questions about how to use Loanfirst.com's software, as well as internally to train Loanfirst.com's customer service staff.
Virtual representatives -- or vReps(TM) for short -- are automated online personalities that engage and support online customers in the same way human sales representatives do at leading brick-and-mortar companies -- via fast, informative and personable conversation using plain English. The Loanfirst.com vRep will handle customer support and frequently asked questions, so live representatives can focus on resolving more difficult inquiries. With the employment of the vRep, Loanfirst.com will be able to provide a higher level of service to its online customers.
"Loanfirst.com is bringing a revolutionary way for automobile dealers and indirect lenders to do business, and we're doing it through a web based application," said Wade Carson, Loanfirst.com president and co-founder. "A major part of introducing this new technology to our customers is to provide them with the best customer service possible. Given that we are launching a web based application, it made sense to have a virtual customer service technology. We're extremely excited about Native Minds' state-of-the-art vRep technology, and we know it will be a key component in making our application as easy to use as possible."
An important front-line customer service application, Loanfirst.com's vRep will also provide training for internal customer service staff. Since the vRep will know all about the Loanfirst.com solution, its knowledge base further benefits Loanfirst.com as an inexpensive training resource.
"Loanfirst.com's innovation in bringing auto lenders and dealers together in the economically sensible forum of the online world is further augmented by its deployment of a sophisticated Web-based virtual customer service representative," said Walter Tackett, NativeMinds CEO and chairman. "Not only will the vRep enable Loanfirst.com to reduce the number of CSRs originally planned for, but it will help establish them as the leading provider of an invaluable solution that will revolutionize the automobile sales and loan industry."
About Loanfirst.com
Based in Austin, Texas, Loanfirst.com connects auto dealers and lending institutions to enable faster loan decisions and increased cost-efficiency via a Web-based application called F & I WebDesk. The company's metamediary business model provides a unique marketplace for lenders and dealers that simplifies and speeds the process for consumer auto financing at the dealership. Additional company information may be found at www.loanfirst.com.
About NativeMinds
Incorporated in 1996, NativeMinds (formerly Neuromedia) is the leading provider of software and services to create automated natural-language customer service and sales representatives -- vReps -- for eCRM. Leading customers of NativeMinds' vRep solutions include Oracle, Axcess.com, Convergys, Loanfirst.com, One 2 One, Procter & Gamble, reflect.com, SmithKline Beecham, WeTheShoppers and Track Data. NativeMinds is a privately held corporation based in San Francisco. For more information, talk to the NativeMinds' vRep Nicole at www.nativeminds.com.
Note to Editors: NativeMinds, Neuromedia, vReps, NeuroServer, and the NativeMinds logos are trademarks or registered trademarks of NativeMinds, Inc. All other names or products are the property of their respective holders.