ATLANTA (May 3, 2017) – CRIF Lending Solutions has announced a partnership to integrate Carvana’s online automotive retail platform with its ACTion and SAIL loan origination systems. This integration will help financial institutions to benefit from the evolving digital automotive marketplace by capturing pre-approved customers or members for direct auto loans.
By visiting Carvana.com, customers can search through Carvana’s online inventory of more than 7,300 vehicles, purchase, finance and trade in a car online from their computers, tablets or mobile phones in as little as 10 minutes. All vehicles are certified through Carvana’s rigorous 150-point inspection and feature a 100-day/4,189-mile bumper-to-bumper warranty. Carvana also offers a seven-day return policy that allows customers to return their vehicles for any reason and receive a refund.
"Integrating our platforms with partners like CRIF Lending Solutions provides consumers with an expanded variety of financing options, saving them valuable time," said Ernie Garcia, Carvana CEO and co-founder.
From ease of application access and submission to instant automated decisioning, cross-selling as well as processing and funding, ACTion delivers a powerful and flexible loan origination system to enhance any institution’s digital presence. Its robust, yet configurable, platform offers omni-channel access to provide responsive and efficient use of lenders’ services through all online, branch, indirect and mobile sources.
SAIL (Software Application for Integrated Lending) enables financial institutions to streamline the loan application process, increase productivity, and greatly enhance loan tracking and reporting capabilities. With the SAIL webbased lending software, institutions gain a flexible solution supported by a team of professionals who are focused on driving growth and maximizing efficiency.
"In an already ultra-competitive auto lending market, our goal continues to be providing technology for advantages in every segment," said Kyle Kehoe, President, CRIF ACTion division. "Utilizing Carvana’s portal is another example of our commitment to reaching that goal. We look forward to strengthening partnerships like this as mobile and online lending continues to grow."