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Oracle Corporation, an enterprise software company, announced Jan. 15 that Credit Acceptance Corporation has developed a self-service credit application (portal) system
using Oracle9i Application Server. As a result, Credit Acceptance was able to create a new revenue channel that generated 74 percent of its new business in November of 2001.
Credit Acceptance is a financial services company that provides its network
of dealer-partners in North America and Europe with financing for consumers who want to buy an automobile, but have limited access to credit, and delivers credit approvals over the Internet.
The portal framework of Oracle9i Application Server enabled Credit
Acceptance to develop a "dealer self-service center" that allows automobile
dealers to process loan applications more efficiently. Prior to this system,
dealers took up to an hour to complete customers' credit applications. Using
the Oracle9iAS portal technology, sales representatives can analyze and
complete applications within minutes after entering relevant customer and
financing information, according to Oracle.
"With Oracle9iAS Portal, we were able to develop our credit application
system quickly, helping our auto dealers provide better customer service
immediately," said David Simmet, chief information officer for Credit
Acceptance. "We've been impressed with Oracle's strong commitment to
customer support and technical innovation."
Supported by Oracle9i Application Server, the self-service portal created a
new revenue channel for Credit Acceptance and increased productivity for its
dealer partners. According to Credit Acceptance, since implementing Oracle9iAS in July of 2000, they have steadily increased the amount of new business generated from
the portal-based credit application system. Credit Acceptance selected
Oracle for its easy-to-use portal, strong customer support, dependable
security and application integration features.
With the forms and reports component of Oracle9i Application Server, Credit
Acceptance built a Web interface that dealers use to insert, update, delete
or query information in the Oracle Database. The feature allows dealers
using the portal to quickly update customer information, run reports on a
customer's loan history and obtain online status of pending applications.
About Oracle
Oracle is an enterprise software company. For more information about Oracle visit our Web site at www.oracle.com.
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