SuperSolutions, an Oracle Certified Solution Provider offering what it calls "the only comprehensive lending system that automates all aspects of product financing," announced Jan. 12 that Crescent Bank & Trust of New Orleans has selected the Daybreak Lending Suite to streamline its rapidly expanding nonprime auto financing business.
According to SuperSolutions President and CEO Darshan Karki, "Our unique, comprehensive solution for origination, servicing and collection offers a seamlessly integrated solution on a single database for Crescent and its subsidiaries."
Daybreak is a key element of Crescent’s growth strategy, consolidating its auto financing business on a single system, including subsidiaries Silver Oak Services LLC, which services and collects third-party auto loans, and Crescent Recovery LLC, which focuses on collecting charged-off debts.
According to Crescent Executive Vice President and Chief Operating Officer Ed Bourgeois, his organization is replacing its internally developed, legacy DOS system to take advantage of newer, easier-to-use technologies and applications. "We wanted a solution with a much broader base of technical support that would guarantee continuity and scalability as we continue to seek and experience exceptional growth for our financing business," Bourgeois said.
After narrowing the field of possibilities down to three, an executive team visited various installations for a first-hand assessment. "Daybreak scored the highest marks in multiple areas," Bourgeois said. "It’s completely integrated – from front-end origination through servicing, collection and charge-off. On the front end, an application received from an auto dealer is automatically entered into the system, generating a request for a credit bureau report on the applicant and a NADA evaluation on the vehicle. That will save us time and money over our current manual process. Plus, the system’s decisioning capability allows us to build in our own criteria to evaluate risk.
"On the collection side, Daybreak’s graphical user interface is extremely user/collector friendly, easy to use and train on," Bourgeois continued. "Collections are very important to us since we’re working on 30,000-50,000 car loans at any given time. Daybreak provides a tremendous amount of information to collectors while on calls."
Other assets noted by Crescent are Daybreak’s Oracle database and virtually unlimited scalability to address its plans to grow aggressively and documentation. "Based on our relationship with SuperSolutions, we are convinced that we can rely on their industry expertise as we continue to grow our business around a system that is built on the most current technology, making it easy to maintain and adapt to our changing needs," Bourgeois said.
About SuperSolutions Corporation
Based in Minneapolis, Minn., SuperSolutions Corp., an Oracle Certified Solutions Provider, offers what it calls "the only comprehensive lending system that automates all aspects of product financing."
The Daybreak Lending Suite is a package of loan processing software that automates lending from origination to servicing and collections. The fully Web-enabled client/server application is scalable and user-configurable. With Daybreak, finance companies and banks across the United States manage consumer loans, including those for automobiles, recreational vehicles, boats, motorcycles, home improvement, home equity lines of credit and other specialty finance requests.
For more information, visit www.supersolution.com, e-mail sales@supersolution.com, or call toll-free (800) 320-2125.
About Crescent Bank & Trust
Based in New Orleans, La., Crescent Bank & Trust and its subsidiaries and affiliates, Crescent Recovery, LLC and Silver Oak Services, LLC are a provider and servicer of nonprime automobile financing in the United States.
Crescent originates nonprime loans for its own account, and services and collects its own loans as well as subprime auto loans for third parties.
For more information visit www.cbtno.com, e-mail ebourgeois@cbtno.com or telephone Ed Bourgeois at (504) 552-4479.
