CMSI Systems, Inc., a wholly owned subsidiary of Credit Management Solutions, Inc., has announced that Regional Acceptance Corporation has selected the company's CreditRevue(TM) application processing software system to support Regional's fast growing non-prime automotive lending business. CreditRevue automates the indirect lending process by automating credit analysis, risk assessment and decisioning.
Regional Acceptance Corporation is an automobile finance company, wholly owned by Branch Banking and Trust Corporation (BB&T). Headquartered in Greenville, N.C., Regional focuses on non-prime lending for previously owned vehicles. Regional currently has six regions and over 40 branches in the Carolinas, Virginia, Tennessee, Florida, Georgia, Maryland, and Ohio.
"We chose the CreditRevue system because it is the Cadillac of automated loan application systems," said Brian House, Regional's MIS Operations Manager. "Because of Regional's rapid growth rate, we needed to select a system that would afford us accessibility to our dealers while also providing scalability in size."
"Regional's primary goal is to be the premier non-prime lender in the United States and we felt that CMSI Systems was the superior choice to help us achieve this goal," House said. "CreditRevue's ability to handle our workflow in a decentralized manner fit our process model perfectly. Plus, CreditRevue has numerous advanced capabilities-such as the ability to quickly retrieve credit reports online and the ability to flag high risk loans in our portfolio -- that contributed to our decision to select CMSI."
"We're extremely pleased that Regional Acceptance Corporation chose the CreditRevue system to help them achieve their business objectives," said Miles Grody, President and CEO of CMSI Systems, Inc. "We look forward to working with them to meet their goals and to deliver quality service that meets and exceeds their expectations."
About CMSI
Through its CMSI Systems, Inc. subsidiary, CMSI licenses credit decisioning and other automation systems and services for consumer and business credit.
The company's e-commerce subsidiary, Credit Online, Inc., credit-enables business-to-business and business-to-consumer transactions through its Internet gateway and funding exchange network. Its patented CreditOnline(TM) and CreditConnection(R) technology links credit originators (such as automobile dealers) and borrowers with an extensive network of leading prime and non-prime lenders. CreditRevue, CreditConnection, and CreditOnline are trademarks or registered trademarks of Credit Management Solutions, Inc.
About Regional Acceptance Corporation
Regional Acceptance Corporation is a consumer finance company specializing in indirect used automobile lending, based in Greenville, N.C. Regional Acceptance Corporation finances purchases of pre-owned automobiles for consumers who typically have limited access to other sources of consumer credit, and offers credit insurance and other insurance products in conjunction with its loan transactions.
Regional Acceptance Corporation has six regions and more than 40 branch offices located in the Carolinas, Virginia, Tennessee, Florida, Georgia, Maryland and Ohio. The company is a subsidiary of Branch Banking and Trust Corporation (BB& T). Its Website address is www.regionalacceptance.com.
