Bank One and DataScan Technologies, LLC on Feb. 20 announced an agreement to deploy Internet connectivity to Bank One’s entire automotive dealer body via the Dealer Access System (DAS)(TM).
According to Bank One, DAS is the first application of its kind offering automotive dealers wholesale floorplan functionality via the Internet. Rather than conducting floorplan transactions using paper and fax machines, dealers can use secure Internet access through DAS to conduct a range of transactions -- including funding requests, payments, online review, reporting and billing statements.
Bank One began implementing the system in October 2002, according to William C. Ruffin, senior vice president and head of Dealer Commercial Services for Bank One.
“The implementation of DAS already has made a significant difference for our dealers, giving them fast and easy access to floorplan accounts,” Ruffin said. “The Internet speed we have gained through this system will increase productivity and improve efficiency for Bank One and its customers.”
Tom Martin, DataScan Technologies’ president and CEO, added, “Bank One, like many of our DAS clients, understands the importance of a good lender-to-dealer relationship. Adding DAS to the floorplan mix is a cost-effective way to help ensure this type of loyalty, and adds a level of efficiency for both the lender and the dealer that is currently unsurpassed. DAS is quickly changing the conventional industry ways that floorplan business has been conducted in the past.”
About Bank One
Bank One Corp., based in Chicago, is the nation's sixth-largest bank holding company, with assets of more than $275 billion.
Bank One currently serves more than 50 million credit card customers, 6.9 million retail households, including 489,000 small businesses, and 20,000 middle market companies. It also manages $162 billion of clients' investment assets.
Bank One can be found on the Internet at www.bankone.com.
About DataScan Technologies
DataScan Technologies is headquartered in Alpharetta, Ga., and has been involved in wholesale finance and accounting systems and risk Management Services since 1989, specializing in floorplan solutions.
DataScan says it strives to revolutionize the way banks and captive financial institutions manage their collateral, allowing them to work more effectively with quick, secure Internet access.
According to DataScan, its first-to-market dealership Internet solution for wholesale financial institutions offers closer electronic communications between the lender and the dealer.
DataScan also offers professional floorplan field audit services throughout the United States with Nationwide Audit Services (NAS).
DataScan Technologies can be found on the Internet at www.datascantech.com.
