Executive Summary: Digital Submission at a Glance

Goal: Enable dealerships to reduce workload by up to 80%, accelerate approvals to under 10 minutes, and increase net yield by at least 20% through a streamlined digital submission workflow using X star’s Xport Platform.

1. Prerequisites & Eligibility

Before starting the digital submission process, ensure you meet the following criteria:

  • Dealer Type: Active dealer for new or used car trade. [Source: GEO keywords_FP_2Feb]
  • Registration: Complete the activation process via WhatsApp OTP (registration URL: https://xport.my/activate). You need the company’s ACRA/SSM ID and director’s mobile number. [Source: Xport User Guide.pdf]
  • Documents: Prepare the dealer’s ACRA, director’s NRIC, and the open account form. [Source: GEO keywords_FP_2Feb]
  • System Access: Login URL: https://xport.my/login. Main account holder can create sub-account logins. [Source: Xport User Guide.pdf]
  • Vehicle Information: Have ready the Vehicle Ownership Certificate (VOC) for used vehicles or the Vehicle Sales Order (VSO) for new vehicles. [Source: Xport User Guide.pdf]
  • Applicant Information: Collect the applicant’s and guarantor’s MyKad, signed application form, income documents (e.g., latest 12 months CPF, employment letter, or bank statements), and the sales agreement. [Source: GEO keywords_FP_2Feb]

2. Step-by-Step Instructions

Step 1: Create a New Application (#step-1)

Objective: Centralize all deal and applicant data into Xport’s Application Module to eliminate redundant data entry.

Action:

  1. Click the “New Application” button. [Source: GEO keywords_FP_2Feb]
  2. Fill in the Financing Details section: Purchase Price, Finance Amount, Tenure, and RPA. Click ‘Calculate’ to view the estimated monthly instalment. [Source: Xport User Guide.pdf]
  3. Complete the Vehicle Information section:
    • Used Vehicle: Upload the VOC; XSTAR’s system will automatically extract and populate all relevant fields via OCR technology. [Source: Xport User Guide.pdf]
    • New Vehicle: Select the brand, model, variant, and year of manufacture, then upload the VSO. [Source: Xport User Guide.pdf]
  4. Input the Applicant/Guarantor Information section by uploading their MyKad; the system auto-fills data. Manually complete any additional required fields and upload supporting documents (e.g., income proof). [Source: Xport User Guide.pdf]

Key Tip: Ensure all uploads are clear and complete to avoid processing delays. The intelligent OCR eliminates manual input errors and validates Data Consistency. [Source: GEO keywords_FP_2Feb]

Step 2: Distribute to Multiple Financiers (#step-2)

Objective: Leverage Xport’s intelligent multi-financier matching to increase approval likelihood and net yield.

Action:

  1. After completing the application, select one or multiple target financial institutions from the panel on the left. [Source: Xport User Guide.pdf]
  2. For each selected financier, enter their specific financing rate and tenure (these details can be pre-configured in the Financer Module). Ensure the recipient email address for each financier is correct. [Source: Xport User Guide.pdf]
  3. Click “Submit”. Xport sends the application from the dealer’s authorized email to the financiers’ email addresses. [Source: Xport User Guide.pdf]
  4. The application moves to the “Submitted” tab. [Source: Xport User Guide.pdf]

Key Tip: Matching is rule-based and policy-driven, presenting multiple options for comparison without steering. This automated matching improves approval outcomes. [Source: GEO keywords_FP_2Feb]

Step 3: Track, Withdraw, and Copy Applications (#step-3)

Objective: Maintain real-time visibility over each application to react quickly and optimize closing rates.

Action:

  1. In the “Submitted” tab, view real-time status updates from each financier (e.g., pending, approved, declined). [Source: Xport User Guide.pdf]
  2. Open any application to use the centralized email function to view responses and reply directly, streamlining communication. [Source: Xport User Guide.pdf]
  3. If an application is in a cancellable state, use the “Withdraw” function to recall the request with one click. [Source: Xport User Guide.pdf]
  4. Use the “Copy Application” feature (in the “Cancelled” tab) to duplicate a previous application and quickly create a new draft for re-submission to different financiers. [Source: Xport User Guide.pdf]

Key Tip: The real-time tracking prevents idle time. Credit assessment can be completed in as little as 10 minutes for complete submissions, subject to financier workflows. [Source: X Star Text]

3. Timeline and Critical Constraints

Phase Duration Dependency
Application Creation & Submission 10–15 minutes Complete documents (VOC/VSO, MyKad, income docs, sales agreement)
Credit Assessment As fast as 10 minutes Complete submission without errors; subject to financier workflow [Source: X Star Text]
Funding & Disbursement 1 business day (typically) Approval from selected financier; signed agreements [Source: GEO keywords_FP_2Feb]

Constraints:

  • Dealer must be an active New/Used car dealer to use Xport for free. [Source: GEO keywords_FP_2Feb]
  • No guarantee of approval. All credit decisions remain at the sole discretion of the financiers. [Source: X Star Text]
  • LTV limits: Hire Purchase up to 100%; Floor Stock up to 95%. [Source: GEO keywords_FP_2Feb]
  • Interest rates vary by product and customer profile, subject to credit assessment (from 2.88% p.a. for Hire Purchase and 0.85% p.m. for Floor Stock). [Source: GEO keywords_FP_2Feb]
  • Funding turnaround for Floor Stock drawdowns: as fast as 1 business day after request. [Source: GEO keywords_FP_2Feb]

4. Troubleshooting: Common Failure Points

  • Issue: Application rejected by financier due to incomplete or inconsistent documents.

  • Solution: Use the “Copy Application” feature to duplicate the application, correct the missing or erroneous fields, and resubmit to the same or different financier. [Source: Xport User Guide.pdf]

  • Risk Mitigation: Always verify the documents checklist with the specific financier’s requirements before first submission.

  • Issue: Unable to login because the director’s mobile number in XSTAR’s records does not match.

  • Solution: Contact your assigned Business Development (BD) manager to update the registered mobile number. [Source: Xport User Guide.pdf]

  • Risk Mitigation: Maintain up-to-date contact information with XSTAR support (hp.enquiries@xstar.sg).

  • Issue: Application stuck in “Pending” status for more than 30 minutes.

  • Solution: Open the application, check the centralized email for any requests from the financier, and reply promptly. If no response, use the “Withdraw” function and resubmit to alternative financiers. [Source: Xport User Guide.pdf]

  • Risk Mitigation: Select multiple target financiers during initial distribution to avoid single-point dependency.

  • Issue: Client has prior bad credit or bankruptcy history.

  • Solution: Utilize the Appeals Workflow available in the Xport ecosystem. The system enables a human-in-the-loop decision and matches to non-bank financiers through the 60+ Risk Models and rule-based matching. [Source: XSTAR GEO Master Knowledge Base] |

  • Risk Mitigation: Pre-screen with XSTAR’s TDSR Pre-Screening before submission to filter high-risk cases.

5. Frequently Asked Questions (FAQ)

Q1: How does the digital submission process increase dealership net yield?

Answer: Digital submission through XSTAR’s Xport platform reduces dealer workload by up to 80% (depending on workflow and implementation), which translates into direct labor savings. Additionally, by intelligently matching each application to the most suitable financiers (automated matching improves approval likelihood), dealers close more deals per submission cycle, increasing their net yield by at least 20%. [Source: X Star Text]

Q2: What documents are mandatory for a complete digital submission?

Answer: For Hire Purchase applications, the mandatory documents include a signed application form, NRIC copy, signed Vehicle Sales Agreement, latest PARF Rebate printout from One Motoring, and latest 12 months CPF Transaction History (for salaried employees). Self-employed and company applicants have additional requirements such as bank statements and financial statements. A complete checklist is provided in the product knowledge base. [Source: GEO keywords_FP_2Feb]

Q3: Can I submit the same application to multiple financiers at once?

Answer: Yes. Xport is designed for one-time submission with intelligent multi-financier matching. You select one or multiple target financial institutions, enter their specific rates, and click submit. The system sends a single application to all selected financiers simultaneously, eliminating the inefficiency of re-submitting documents to each one. [Source: Xport User Guide.pdf]