PHILADELPHIA — VINtek, a provider of automotive collateral management
services and direct auto finance solutions for lenders, announced the launch of
its latest version of VINtekTIME, its Web-based automotive collateral management
system for paperless and paper-based vehicle titles.
The newest version of VINtekTIME includes features such as a
workflow and task queuing system with timers, due dates and alerts; the
integration of Department of Motor Vehicle business rules with document image
and file hosting; and expanded user profile configuration utilities.
The first financial institution to use VINtekTIME v3.0 is
Dallas-based Santander Consumer USA with its Drive Financial brand.
“We upgraded to VINtekTIME v3.0 because the system provides
us with even more efficiencies and risk management benefits as a result of new
features and capabilities plus unlimited customizable reporting and information
sharing tools,” said Carolyn Prater, vice president of originations for
Santander Consumer USA. “As a member of VINtek’s client advisory board, we were
able to work with the VINtek product development team to design advanced
features that meet our primary needs as well as enable us to customize features
as we grow and change processes.”
“VINtek created the latest version of its collateral
management system based heavily on direction and feedback we received from
lenders on our client advisory board, a group of select clients who actively
help guide our innovative efforts,” said Larry Highbloom, president of VINtek.
“Our new version of VINtekTIME builds upon our history of reliability in data
exchange with lenders and DMVs and provides enhanced risk management tools to
lenders who are focused upon preventing title exceptions.”
More than 740 automotive lenders nationwide use VINtekTIME
to manage their automotive collateral. VINtekTIME simultaneously processes
paperless automotive titles, also known as electronic lien and title, and paper
titles and other collateral in one unified collateral management system.
VINtekTIME is deployed via a Software as a Service model that eliminates the
requirement for clients to install software since the application is hosted by
VINtek on secure servers within SunGard Data Systems hosting and network
infrastructure.
