ATLANTA (April 22, 2015) – CRIF Select, a division of CRIF Lending Solutions and leading provider of indirect lending solutions, has teamed with Dealertrack’s Digital Document Services (DDS) to provide Dealertrack’s eDocs solution for digital contract processing to CRIF Select’s partner institutions and dealerships.
Dealertrack’s eDocs is a comprehensive solution for the scanning, data entry and verification of paper contracts. The partnership between Dealertrack and CRIF Select will help drive greater contract and funding efficiencies for all of CRIF Select’s partners. CRIF Select will offer this solution as part of its Select Complete and Select Choice offerings.
“Same-day processing is a huge benefit for us,” said Chuck Smith, Sr. Vice President, Chief Lending Officer, Texas Dow Employees Credit Union, a CRIF Select client. “Reductions in response times are essential for streamlining our operations, and there’s the added bonus of shipping cost reductions.”
As Dealertrack processes more than nine million contracts each year, lenders can be confident they are benefitting from a partnership between two industry leaders as well as a dynamic and innovative solution that will bring direct benefits to their business. Dealertrack’s eDocs can improve efficiency as digital documents are delivered in record time.
"Our partnership represents a major step forward in the quality of indirect lending services that we provide," said Jeremy Engbrecht, President of CRIF Select. “This is the latest example of how we’re continuously searching for innovative ways to streamline the lending process with faster payments for dealers and superior service for our lenders.”
”We see tremendous opportunities for dealer and lenders to transform their businesses through digital document administration and management,” said Kathy Kassinos, Vice President and General Manager, DDS, Dealertrack. “We are committed to partnering with industry leaders, such as CRIF Select, to drive efficiencies throughout their operations, while helping to reduce costs for dealers and lenders.”
About CRIF Lending Solutions
CRIF Lending Solutions is the nation’s largest provider of loan and account origination, business process outsourcing, credit decisioning, data access, and lending and marketing analytics solutions to a number of the most successful U.S. financial institutions including banks, credit unions, finance companies, retailers and credit card processors. CRIF Lending Solutions is organized into four dedicated divisions: CRIF Achieve, CRIF ACTion, CRIF Select, and CRIF Synergy. CRIF Lending Solutions is a part of CRIF, the leading global company specializing in the development and management of decision support systems. For more information, visit www.criflendingsolutions.com.
About Dealertrack Technologies
Dealertrack Technologies' intuitive and high-value web-based software solutions and services enhance efficiency and profitability for all major segments of the automotive retail industry, including dealers, lenders, OEMs, third-party retailers, agents and aftermarket providers. In addition to the industry's largest online credit application network, connecting more than 20,000 dealers with more than 1,500 lenders, Dealertrack Technologies delivers the industry's most comprehensive solution set for automotive retailers, including Dealer Management, Inventory, F&I, Digital Marketing and Registration and Titling solutions. Visit www.dealertrack.com.
Safe Harbor for Forward-Looking and Cautionary Statements
Statements in this press release regarding the benefits of Dealertrack solutions, any conclusions or statements based thereon and all other statements in this release other than the recitation of historical facts are forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995). These statements involve a number of risks, uncertainties and other factors that could cause actual results, performance or achievements of Dealertrack Technologies to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements.
Factors that might cause such a difference include the performance and acceptance of Dealertrack’s eDocs solutions and other digital solutions in addition to other risks listed in our reports filed with the Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K for the year ending December 31, 2014, and our Quarterly Reports on Form 10-Q. These filings can be found on Dealertrack Technologies' website at www.dealertrack.com and the SEC's website www.sec.gov. Forward-looking statements included herein speak only as of the date hereof and Dealertrack Technologies disclaims any obligation to revise or update such statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events or circumstances.