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VideoSave and ADI Implement F&Eye Transaction Authentication System

July 31, 2006

NEW YORK -- VideoSave Inc., a provider of off-site video storage systems, has joined forces with Scottsdale, Ariz.-based Automotive Dealership Institute to test and implement the company’s new F&Eye Transaction Authentication System.

The system was developed for automotive dealers who need a comprehensive audio/video transaction verification system to document the sales process as it relates to dealership finance offices.

With legislation pending in many states and dealers facing millions of dollars of potential liability, VideoSave collaborated with the Automotive Dealership Institute in developing the system and installing it in their classrooms. F&Eye System is a benefit to automobile dealerships which need to maintain a secure record of finance and insurance transactions with customers.

“Video and audio verification is a great tool not only to mitigate disputes with customers that arise in the finance office, but it is a great dealer management and training tool," said ADI's CEO and Executive Director Alan Algan. "At our school, we looked at several systems and concepts to assist our students in understanding that when they see cameras in the F&I office, they should not be intimidated, but to view the process as a protection asset. VideoSave is certainly that."

Fred Deutsch, president of VideoSave, commented, “We were very pleased to have worked closely with the Automotive Dealership Institute to develop and launch our system. F&Eye System is part of VideoSave's extensive program to bring the secure off-site storage of video business records to different industries where it can play a major role in improving customer service, security and productivity.”

F&Eye Transaction Authentication System is an integrated system of cameras, microphones, an on-site VideoSave VideoServer and the VideoSave secure off-site VideoVault. With cameras and microphones installed in the auto dealership finance offices, each F&I transaction is recorded in full and then transmitted over the Internet to VideoSave’s remote and secure VideoVault.

The video and audio record is stored for the length of the contract or longer, typically three to five years, and is maintained by VideoSave, which acts as a fiduciary for the information in case the terms of any transaction are contested or litigated. Each transaction is time and date stamped and can be coordinated with any dealer management system for easy access and recall.

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