Company: LightStream
Company background: LightStream is the national online consumer lending division of Truist. LightStream believes that consumers who have established good credit have earned the right to a simple loan process and low interest rates. LightStream delivers an uncomplicated loan experience that allows customers to focus on their purchase, rather than on their financing. With innovative lending products and proprietary technology, consumers with strong credit profiles can receive highly competitive, fixed rate financing via an easy, fast and virtually paperless loan process.
Contact: Katie McLellan
Title: Vice President of Communications
Related URLs:
https://www.facebook.com/LSLoans
https://twitter.com/LS_Loans
Kudos Category: Small but Mighty
1. Describe your company and your organization.
LightStream is the national online consumer lending division of Truist. We have a small team that manages social media, and use Khoros to manage approvals and workflows across our internal creative, legal / compliance, marketing, and customer service teams.
2. Why did you choose to invest in Khoros?
We chose Khoros because of its ability to provide measurement, customer care, and publishing all in one place across all of our channels. Additionally, we have a large cross-functional team, stemming from legal and compliance to customer service to marketing, and having the ability to provide audit trails and detailed approval flows is imperative for efficiency, as well as risk moderation.
3. How does Khoros help you deliver results beyond what a team your size normally can do?
We have a small team of content creators that work on the LightStream social accounts, and as a financial institution, much of our content requires compliance approvals. This can keep us from being able to publish timely posts because of all of the touches required on each post. It also takes a lot of time from the business to keep an eye on posts and ensure they are getting approved and nudge them to move forward.
After requiring compliance sign-off on all posts for over 3 years, we decided to work with the compliance team to see if there were certain types of content that didn’t require review, such as posts about work culture or wishing our community happy holidays. We defined each type of content, and decided on which posts need compliance versus those that do not.
Then, we were able to take that information and create labels according to content topics in Khoros, and create rules so that the post gets routed according to content type. This allowed us to streamline approvals, creating efficiency and time savings across the business.
- The amount of posts requiring compliance approval decreased by 67%
- Compliance went from approving 13.5 posts a month on average, to an average of 4.5 posts a month.
With these time savings, our team has been able to focus more on real-time posting opportunities. It will also allow us to scale in the future, as we will be able to post more without requiring more department resources.
