IRVING, Texas, Jan. 13, 2015 /PRNewswire/ -- Exeter Finance Corp. announced today the completion of the rollout of its new originations platform, which reduces the typical decision time to under 15 seconds. Additionally, Exeter Finance Corp. is now able to restructure the loans in real time. As a result of the full roll out of the new system, all Exeter loan applications will be processed through two operations centers: one in Irving, Texas and one in Clearfield, Utah, enabling faster and more efficient application processing and a higher level of service for dealers.
"Exeter has created a strong national footprint utilizing a traditional branch model, growing its portfolio from $150M to $2.8B in the past three years," said Tom Anderson, Exeter CEO. "However, we recognize the importance of adapting our business to accommodate the need for more expedient loan processing and higher service. Fundamentally, we have a goal of driving additional sales and customer loyalty in the dealership."
Anderson emphasized that the changes will occur in a phased implementation to ensure a seamless transition for employees and dealer customers.
Exeter continues to invest in tools to better support its dealer customers. Exeter's new program typically provides decisions in 15 seconds or less, while still offering dealers the ability for rehash and personalized service.
"Our new structure allows the dealer to provide immediate offers to the end consumer, potentially generating more sales within the dealership and improving customer satisfaction rates overall," said Anderson.
Consumers are demanding a quicker vehicle purchase process, driven largely by their increasing reliance on technology to better educate themselves, even before entering the dealership. As a result, both dealers and lenders alike are adapting business models to better accommodate the consumer's preference.
"We look forward to the opportunities for growth and change in 2015," said Anderson. "We will continue to serve our dealers and end consumers in the most efficient and effective manner possible."
ABOUT EXETER FINANCE
Exeter Finance Corp. is a specialty auto finance company based in Irving, Texas. Exeter partners with franchised auto dealers throughout the country to make car ownership a reality for consumers. Building personal relationships and providing the highest level of service to dealers and customers have been keys to the company's success since its founding in 2006. Please visit www.exeterfinance.com to learn more.