What is a soft search and what does it mean?

Tuesday 1st February 2022

Heard the term soft search bandied around but not really sure what it is or how it could be helping you do more business? You’ve come to the right place.

What is a soft search?

Simply put, a soft search is essentially a ‘light touch’ credit check that doesn’t leave a footprint on your customer’s credit file.

Why should I use it?

Offering your customers the chance to do a soft search means they can check their eligibility for lending before any real time is invested, on their part and yours.

Not only that, but customers will also be told if they are eligible to borrow more than they thought, making upselling and cross-selling a doddle.

They will also see the rate they’re likely to receive and how that impacts monthly repayments. This allows them to increase or reduce the term of the loan to fit with a manageable monthly cost.

Why choose Novuna Retail Finance?

As well as offering a simple soft search functionality as standard, we are the UK’s leading point of sale provider, working with some of the most recognisable names in the business. Previously known as Hitachi Capital Consumer Finance, we have almost 40 years’ industry experience and have systems that work seamlessly with yours in store, online and anything in between to create a bespoke customer experience.

Want to find out more about how we can help you drive more business and make more revenue? Contact us today.