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Exeter Finance Partners With Open Dealer Exchange

October 28, 2010

TROY, Mich. – Open Dealer Exchange LLC has partnered with Irving, Texas-based Exeter Finance Corp., a specialty auto finance company, allowing credit application integration directly within the dealership management system (DMS).

Open Dealer Exchange streamlines the sales process by securely embedding financial transactions within the DMS, resulting in broader point-of-sale access for the lender. This two-way communication provides Exeter Finance with the ability to present varied product offerings throughout the entire sales cycle from a single interface.

“We are pleased to partner with Exeter Finance for credit application integration,” said Marty Zwolan, vice president of sales and marketing for Open Dealer Exchange. “We believe Exeter and its network of dealerships will benefit significantly from our cost-effective and reliable software, and encounter wider flexibility in terms of business capability and growth.”

Open Dealer Exchange, a joint venture between the two transactional point-of-sale system providers — Automatic Data Processing Inc. (ADP) and the Reynolds and Reynolds Company — was created to help automotive lenders market a greater number and variety of products and services within dealerships. The company’s technologies enable lenders to maximize operational efficiency, sales and return on investment.

“Exeter’s goal is to provide the best dealer service through our branch model of local underwriting, funding and relationships,” said Richard Frunzi, chief operating officer of Exeter Finance. “Collaborating with Open Dealer Exchange certainly will enhance the experience of our dealers during transactions and enable us to continue exceeding expectations.”

Exeter’s underwriting and verification teams work in local branches, rather than a centralized facility, enabling personal service and continuous access to decision-makers. Exeter recently opened branches in the Atlanta and Philadelphia markets in addition to its current locations in Irving, Texas; Independence, Ohio; Paramus, N.J.; Schaumburg, Ill.; St. Louis, Mo.; and Manchester, N.H.

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