Versatile Credit Service Launched in Furniture First Stores

October 11, 2016  by Jane Chero in Business Strategy, Industry   

Furniture First, a buying group for independent furniture retailers, launched the kiosk-based system at their recent national symposium.

The self-service Versatile Credit solution provides a private, secure and fast credit application process for consumers. Versatile Credit officials said retailers benefit from the Credit Cascade feature, which allows applications denied by a primary lender to be sent to a secondary lender or rent-to-own providers – reducing credit denials by up to 40%.

“Our members realize the value of providing credit choices to their customers,” said Amanda Daubert, Furniture First’s director of services. “Versatile’s Credit Cascade service has been proven to increase applications, approvals and sales. That’s why it fits well with our mission to provide our members with access to valuable business solutions.”

Kevin Lawrence, vice president of sales and marketing for Versatile Credit, said Furniture First has more than 20 years of experience helping members grow their businesses. Simplifying the credit process is an important factor in growing sales and profits.

“Versatile Credit has taken the fatigue out of the credit application process,” he said. “Customers submit their credit data in private in a process that takes minutes. Store associates are not involved. There’s no awkward moment if credit is denied and with our cascade system, customers can choose to submit their application to other lenders. By being able to offer credit to more customers, stores increase loyalty and sales.”