The average bounce rate for the 4 months before the launch was 64.85%. We saw a reduction in bounce rates, and an increase in conversion rates overall.
After launch we discovered just how successful we were. The software was so successful and garnered so much attention for the company, Direct Capital was acquired by CIT Bank.
Where previously, the software hadn’t been used much, CIT’s stated reason for acquiring Direct Capital was, “Through its customer-centric approach and unique value-added technology platform, Direct Capital has established itself as a leader in providing small and mid-sized businesses fast, flexible and affordable financing,” said Nelson J. Chai, President of CIT Group Inc., Chairman and CEO of CIT Bank. “Direct Capital’s proprietary online lending platform, LendEdge, will complement our existing small business and mid-market customer offerings as we continue to provide financing to these important sectors of the U.S. economy.”
To top it off, Apple Computer decided to give Direct Capital financing for business customers, taking it away from GE Capital.