Compass Bank, a subsidiary of Compass Bancshares, Inc., has announced it has
joined the list of lending institutions utilizing the DealerTrack™ auto finance platform.
According to DealerTrack, Compass Bank will accelerate its dealer-to-lender relationships by making its lending services
available to its dealers on the DealerTrack auto finance platform.
Compass Bank had previously been a participant on Credit Online's CreditConnection®
network. Following DealerTrack's recent acquisition of Credit Online, Compass Bank has now
migrated to the DealerTrack platform.
According to the company, Compass Bank's dealer customers who use DealerTrack are now able to electronically submit
credit applications to the lender. Dealers can also use the platform to monitor changes in
application status, share information instantly with lenders on the system and access credit
reports. In addition, DealerTrack now offers dealers the ability to integrate with leading dealer
management systems.
"We see true value in the automation of our financing process through the use of the
DealerTrack platform," said Kurt Lettow, senior vice president of Compass Bank. "DealerTrack's
leading-edge functionality, combined with its extensive representation of the dealer community, was
critical in our strategic decision to adopt the platform. Our dealer customers are thrilled that
we've joined as well."
"Compass Bank is yet another top-quality lender to join the DealerTrack family from the
CreditConnection platform," said Mark O'Neil, DealerTrack president and chief executive officer.
"We look forward to creating real benefits in the lending process for both Compass Bank and its
dealer customers as they make the transition to the DealerTrack platform."
About DealerTrack
With over 20,000 dealers and over 30 lenders currently connected, DealerTrack is an independent Web-based platform that automates and accelerates the entire
dealer-to-lender relationship, from financing to daily information sharing. The DealerTrack suite
of products includes credit application processing, credit bureau access, electronic contracting
and lease comparisons - all in one integrated solution. Additionally, the DealerTrack
platform features integration with top dealer management systems for credit application processing
and credit bureau access. More information on DealerTrack is available at www.dealertrack.com or
by calling 877-357-8725.
About Compass Bank
Compass Bank is a subsidiary of Compass Bancshares, Inc., a Southwestern financial holding
company with $24.3 billion in assets and 355 full-service banking offices in Alabama, Arizona,
Colorado, Florida, New Mexico and Texas. Compass Bancshares is among the top 40 U.S. bank holding
companies by asset size and ranks among the top earners of its size based on return on equity. The
company says its earnings per share have increased for 15 consecutive years and dividends per share have
increased for 22 consecutive years.
0 Comments
See all comments