TROY, Mich. — Automotive Credit Corporation (ACC) struck an agreement with Open Dealer Exchange LLC to provide a direct connection from a franchised dealership’s dealer management system (DMS) to ACC’s loan origination system.
With the newly formed relationship, a dealership can now send credit application data to ACC and view credit decisions directly from its DMS. The process is completely streamlined within the dealer’s workflow and eliminates the need to leave his or her DMS during the credit approval process.
“The integration through Open Dealer Exchange will reduce costs and improve efficiencies on both ends of the lending process,” said John Cavanaugh, chief financial officer for ACC. “A dealer will save time and effort, which directly results in reduced customer wait times and an increase in satisfaction during the vehicle buying process in the dealership.”
Open Dealer Exchange provides lenders the ability to lower costs and increase speed to market by offering a one-stop, standards-based integration into a dealership’s DMS.
“The key to our business model is complete integration between a finance source and a dealership at the DMS level,” says Marty Zwolan, vice president of sales and marketing for Open Dealer Exchange.