Tag: mobile tech

Mobile technology is shrinking auto loan origination time

| August 21, 2015

New research from NetSol has shown that this could be very helpful to both the automotive and financial sectors.

According to NetSol Technologies IT and enterprise software provider, mobile technology is having a transformative effect on both the automotive financing and leasing sectors by decreasing the amount of origination and decision making time required for loans.

This conclusion was made within a white paper that was issued by the firm about the impact of mobile tech.

Enterprise mobile technology is making it possible for financial institutions to be able to enhance their operational efficiencies to the extent that significant costs can be reduced from the elimination of the requirement to print and mail out documents to customers and other institutions. Beyond the cost savings, there is also a considerable amount of time savings as the amount of time needed for responses is reduced.

Mobile technology makes it possible for financial institutions to provide customers with information, anywhere.

Mobile Technology - Auto LoanThis means that it doesn’t matter where the customer is, he or she can gain the information that is needed to take out an auto loan using smartphones or tablets, without the need for actual paperwork. This can all be provided to customers on the spot.

NetSol Technologies CEO, Najeeb Ghauri, explained that “Netsol’s research shows how mobile technology is positively impacting the global auto-leasing industry.” Earlier in 2015, the company had implemented a form of mobile point of sale system to an auto company that remained unidentified. This made it possible for dealerships to be able to complete the contract origination process through the use of a smartphone or tablet.

The implementation process, which involved training staff members who would be using the service. Following that period, the unnamed dealer experienced considerable origination time and efficiency improvements, said NetSol.

A recent study conducted by 451 Research suggested that POS systems run over mobile technology are starting to have an impact in multiple sectors, which are not limited to the auto industry. It explained that there is actually a considerable cross-sector draw for using points of sale over devices such as smartphones and tablet computers.

Nokia moves ahead in its mobile technology return

| August 13, 2015

The tech company is seeking partnerships and is hiring talent as it prepares to make its way back into the market.

Nokia has announced that it is now testing products, hiring experts in software, and is looking to make new sales partnerships as it builds its strategy to return to the consumer and mobile technology industry.

After having previously stepped out of the handset and smartphone business, it is now headed back in.

Nokia was once a leader in mobile technology and was the largest cell phone maker on the planet. That said, when smartphones took over basic cellular phones and feature phones, the Finnish firm made decisions that allowed Apple and Samsung to leap into the top spots. Eventually, Microsoft purchased Nokia’s handset business. Since that time in 2013, Nokia has placed all of its energies on creating equipment for telecom networks.

While Nokia can’t fully return to the mobile technology industry until the end of 2016, it plans to be ready.

Mobile Technology - Nokia cell phone evolutionThe company has a non-competition deal with Microsoft that is blocking Nokia from being able to make it back into the handset business at the moment, but when that expires in 2016, Rajeev Suri, the CEO of the company, plans to be ready. The preparations are now heavily underway with the business in order to ensure that once it is free to jump back into the smartphone and consumer handset business, it will be ready to leap with both feet.

Nokia has already taken a tiny step back into the consumer marketplace after having launched a tablet based on the Android operating system. This device hit the market shelves in China in January, and is called the N1. Much more recently, it unveiled a type of “virtual-reality camera” which it has referred to as the “rebirth of Nokia”.

Other tech that the company has set out to the market includes an Android app entitled the Z Launcher, which is designed to provide smartphones with more effective content organization.

That said, a major focus of the business is now to prepare for reentry into mobile technology in a big way. It is hoping to create handsets in the future that will provide stiff competition in that market.