ATLANTA--DealerTrack has integrated its eContracting product with First American Credit Management Solutions' Origenate and CreditRevue solutions to provide end-to-end financing automation.
DealerTrack's eContracting solution lets dealers electronically transmit contracts and other customer data, including digital signatures, to financing sources, shortening the time it takes to secure funding. Origenate and CreditRevue, First American CMSI's credit origination systems, automate the credit-granting process from application through decisioning, underwriting and contract administration. Now Origenate and CreditRevue support all eContracting functionality and add functions such as contract validation, which automatically checks contracts against completion and tolerance rules. Another added capability is document viewing, which lets financing sources view copies of the contract and related documents.
This new integration expands on the credit origination systems' existing connection to DealerTrack's F&I Tool Suite, which lets dealers electronically submit credit application information to finance sources, monitor application status and get quick responses.
The promise of a streamlined workflow attracted InterState NetBank's Auto Financial Services group to the integrated solution. "eContracting is an exciting idea that has the potential for additional productivity gains beyond those we're currently experiencing with Origenate," said Larry Chiavaro, senior vice president for Auto Financial Services. "This integration could ultimately drive our ability to offer our dealer customers a fully automated financing process, from application right through to contract."
The DealerTrack Web-based platform automates and accelerates the automotive financing process. The suite of integrated products includes credit report access and application processing, electronic contracting, desking tools, and comprehensive activity reporting.
First American CMSI provides end-to-end credit automation solutions for a variety of lending institutions.
