Credit Online to Provide Faster Financing Decisions for ProMax
Credit Online, Inc., a wholly owned subsidiary of Credit Management Solutions, Inc. (CMSI), has announced that Dealer Marketing Services, Inc., a supplier of dealership software and services, will utilize CMSI's technology and network of lenders to provide their dealer customers with faster decisions on vehicle loans.
Dealer Marketing Services' ProMax software is designed to help dealers match customer, lender, and vehicle for the most profitable deal. Through a link in the ProMax system, a dealer will be able to access the CreditOnline(TM) Network, electronically send applications for vehicle loans to the appropriate nonprime and prime lenders nationwide, and receive returned decisions in a matter of minutes. The CreditOnline Network presently comprises 28 major lenders in the U.S. and Canada.
Credit Online offers a variety of solutions that facilitate online financing, according to president and CEO Howard Tischler. The CreditOnline Network connects dealers to credit bureaus and multiple funding sources throughout the U.S. and Canada via the Internet. Available 24 hours a day, seven days a week, the network delivers real-time connectivity that shortesn the credit decision process from days to minutes, according to Tischler.
In addition to accessing the network through software like ProMax, dealers can be connected to the network via Credit Online's CreditConnection(R) dealership tools, which also deliver analysis and management reports designed to streamline work in the dealership F&I office and increase productivity in this important profit center.
"Dealer Marketing Services, Inc., is a recognized leaderin the field of maximizing vehicle profits, and we're very pleased to be selected as their online financing solution," Tischler said. "Integrating with the ProMax system is our latest step in providing complete end-to-end supply chain automation in the online auto financing arena."
"Electronic connectivity to a network of major nonprime and prime lenders will improve the speed of the F&I process for our dealers," said John Palmer, president and CEO of Dealer Marketing Services, Inc. "Leveraging Credit Online's technology and established network of lenders helps us significantly reduce the time to market with this important capability."
About CMSI
Since it was founded in 1987, CMSI has been a provider of credit automation software and services, including Internet-based online lending and leasing technology. The company's e-commerce subsidiary, Credit Online, Inc., credit-enables business-to-business transactions through its Internet gateway and its patented CreditConnection technology (www.creditconnection.com), which links credit originators such as automobile dealers and borrowers with an extensive network of prime and nonprime lenders.
About Dealer Marketing Services, Inc. and ProMax
Dealer Marketing Services, Inc. was founded in 1995 by John Palmer, and is a provider of software and Web site technology to the automobile industry.
According to Palmer, ProMax software is designed to provide the "Total Frond End Solution" in one sofware system for nonprime financing, new- and used-vehicle leasing, conventional financing, full prospect and customer follow-up and tracking management, Web site hosting and management, inventory control, and more.
Dealer Marketing Services, Inc. also provides support and training services for all of its products and services.
For more information about Dealer Marketing Services, Inc., visit www.promaxautonews.com.
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