TROY, Mich. — Open Dealer Exchange LLC has formed an agreement with Crescent Bank & Trust (CB&T) to integrate the lender directly within the dealer management system (DMS) during the loan approval process.
Headquartered in New Orleans, CB&T is an indirect subprime lender with more than 20 offices across the country. Integration with Open Dealer Exchange is complementary to CB&T’s indirect auto lending strategy.
”Serving the needs of our dealers is such a critical part of our business,” said Donald Howie, senior vice president of auto lending for CB&T. “Our new relationship with Open Dealer Exchange will help streamline the F&I process and make it easier for dealers to do business with CB&T.”
The connection through Open Dealer Exchange will allow CB&T to receive credit applications and return credit decisions directly to the dealer’s DMS, eliminating the need for the dealer to use a third-party portal during the loan approval process.
“Our unique model puts CB&T right within the dealer’s DMS,” stated Marty Zwolan, vice president of sales and marketing for Open Dealer Exchange. “This gives them a significant advantage when it comes to look-to-book ratios, and will help them reduce costs internally.”