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Wells Fargo Equipment Finance Selects DataScan

May 28, 2008

Alpharetta, Ga. DataScan Technologies LLC, a leader in wholesale finance accounting and risk management systems, has announced that Minneapolis-based Wells Fargo Equipment Finance Inc. has selected DataScan as its systems provider for their floorplan lending business in the United States and its Canadian affiliate.

DataScan reported that he new system was implemented in under three months, compared to the standard six to nine months usually needed to put DataScan’s suite of systems into operation. Wells Fargo is now using the Application Service Provider (ASP) versions of DataScan’s Wholesale Management System (WMS), Dealer Access System (DAS), and Collateral Management System (CMS) products to provide their customers with flexible lending products, detailed billing statements and online access to their floorplan accounts.

“Our best-in-class solutions work well for this industry by enhancing electronic communications between the floorplan lender and the equipment dealer,” said Frank Armstrong, President, DataScan. “We look forward to working with Wells Fargo – a well-respected leader in the equipment finance business.”

“DataScan’s state-of-the art floorplan solutions have streamlined our lending solutions through an easy-to-use, online interface,” said Christopher J. Canney, Vice President & Director of IT, Wells Fargo Equipment Finance Inc. “Our equipment dealers now have the tools they need to remain competitive.”

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