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BANCO, ADP Partner to Offer E-Contracting Capabilities

January 24, 2005

Banconsumer Service, Inc. has teamed up with ADP Dealer Services to enhance the e-contracting capabilities of automobile dealers. The joint effort delivers an inte-grated Electronic Auto Contracts solution to dealers by combining BANCO’s document offering with ADP’s F&I LaserStation solution.

BANCO’s forms will enable dealers to produce accu-rate contracts that can be immediately submitted to dealers’ funding sources.

"We’re excited about partnering with ADP to provide auto dealers and lenders with a forward-positioned solution to completely automate the documentation process in a dealer’s F&I department," said Paul N. Roth Jr., president of BANCO. "Utilizing our documents and the ADP software system, dealers will be able to finalize funding quicker, which will enhance customer satisfac-tion."

The goals of the partnership are to streamline the F&I process, allow for more mark-up opportunities and to increase dealership CSI scores, said John Watson, vice president and general manager of ADP’s Transaction Products.

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