Powerband Solutions (PBX.V) bought software for their Drivrz platform that helps solve challenges consumers and dealers face when dealing with complex online transactions earlier this week, according to a press release.
Some of the new and improved features include:
- Start-stop convenience throughout the transaction;
- E-signature capabilities;
- Allows consumers to comparative shop differing terms side-by-side for terms, loans, leases and down payment options;
- Complete transaction transparency showing the consumer all the components of the transaction, including finance and insurance/warranty products, trade-in value, rebates, taxes, fees and more;
- Consistent transaction process on a listing site, dealer’s website or in-dealership;
- Allows the dealer to configure and customize many aspects and its offerings; and
- Enables the consumer to choose home delivery for a true concierge service.
The company’s spent the past six months expanding the code for their DrivrZ platform and agreed to pay USD$200,000 when it’s done.
“Today’s on-line customer wants simplicity, transparency and convenience in a seamless transaction. We have all experienced the frustration of being unable complete an on-line transaction after inputting much of the required data. There is nothing more annoying than having to start all over again. Our new software enhancement allows the consumer to quickly and easily progress and complete their transaction, even if they need to leave the site or continue at the dealership — they can start exactly where they left off. Our dealers are also able to access the transaction elements through our portal as well. We are pleased that our platform enhancements eliminate these friction points that frustrate most consumers with on-line transactions,” said Kelly Jennings, CEO of Powerband.
Former equity guru client, PowerBand is a fintech provider working in the automotive industry. They have a cloud-based transaction platform called DrivrZ that allows for transactions between customers, dealers, financiers and manufacturers. It gives everyone involved the ability to buy, sell, trade, finance and lease both new and used, electric and non-electric vehicles, all from their smart phones, Ipads or other assorted digital devices.
At present, Powerband is trading at $0.48.