SOUTHFIELD, Mich. — Open Dealer Exchange LLC announced an agreement for integration with CUDL. Through the alliance, CUDL will be offering direct credit application and contract validation data integration from the dealer’s point-of-sale system directly to the CUDL system.
“The agreement with Open Dealer Exchange allows our credit union members a more streamlined approach during the contracting process,” said Tony Boutelle, Credit Union Direct president and CEO. “With our combined technology expertise, lenders will have access to critical information directly from the DMS, something that is tough to do today without the connection to Open Dealer Exchange.”
Open Dealer Exchange, a joint venture between ADP Dealer Services and Reynolds and Reynolds, integrates a finance source or F&I product provider directly within an auto dealership's DMS, according to the company. From within the DMS, dealers will be able to send complete customer and deal information directly to CUDL then complete the credit application process within CUDL. They also will have the ability to perform contract validation on each deal directly from their DMS.
“Our agreement will enable CUDL to take their credit and contracting services to the next level, which is a step in the right direction for the industry as a whole,” said Steve Luyckx, general manager for Open Dealer Exchange LLC. “Dealers have had limited or costly connectivity between their lenders and their DMS, and this alliance bridges that gap and combines the strengths of each system.”
For more information, visit www.opendealerexchange.com.