Philadelphia - Automotive collateral management service provider VINtek has announced the launch of TitleMyCar.com, a direct-to-consumer (D2C) auto-loan documentation portal. Joining the effort was Baltimore-based eOriginal Inc., a leader in the field of electronic signature legal compliance for eContracts, leases and other forms of transferable assets. eOriginal will lend electronic signature and eContracting capabilities to the new portal.
"The eSignature and eContract capabilities of the TitleMyCar.com process, paired with the collateral management services traditionally provided by VINtek, reduce the time and effort required on the part of the consumer and the lender to close the auto loan," said Larry Highbloom, president of VINtek. "Consumers are able to receive funding faster and lenders are able to reach an expanded market of borrowers through the D2C channel and reduce the cost of closing individual loans by moving them to an electronic format."
"Our combined Software as a Service (SaaS) delivery model transfers information from VINtek to eOriginal in real-time as consumers are conducting business on the TitleMyCar.com Web site," said Jack Stose, vice president of eOriginal. "By leveraging the respective skills and investments of VINtek and eOriginal, VINtek was able to create a portal that is simple to use yet sophisticated enough to meet the demands of the automotive finance lender community. The product's design provides rapid deployment and reduced IT resource requirements by lenders."