LAKE SUCCESS, N.Y. -- DealerTrack Holdings Inc., a provider of on-demand software and data solutions for the automotive industry, has developed a new interface linking dealers with credit unions served by Aimbridge Lending Solutions, a provider of lending technology and services to credit unions across the country.
The relationship will combine DealerTrack's extensive network of more than 22,000 automotive dealers nationwide with Aimbridge's proprietary credit union filtering process.
Dealerships can use DealerTrack to make an automated request to Aimbridge's lending system and determine whether the applicant is pre-approved at any credit union, already a credit union member, or fits any other filter the Aimbridge system supports. Dealers then select an appropriate credit union and submit the loan application to Aimbridge, where it is processed through an integrated lending work flow system on behalf of the lending credit union. By using the integrated technology, credit unions can increase automotive loan leads while maintaining attractive loan capture ratios.
"Automotive loans have always been an integral source of revenue for the credit union industry, and Aimbridge is committed to helping credit unions maximize their business in the auto sector," said Stephen Bentley, founder of Aimbridge. "Our strategic partnership with DealerTrack will help our credit union clients increase their loan opportunities while maintaining a high capture ratio. It is a win-win situation."
"We are pleased to welcome Aimbridge to the DealerTrack network," said David Trinder, senior vice president of network solutions at DealerTrack. "It is important to us that we enable dealers to deliver all possible financing options to their customers. The addition of Aimbridge and their technology greatly adds to the options dealers can offer."