Wednesday, May. 03, 2017, 02:14 PM UPDATED 12:32 PMBy Auto Remarketing Staff
On Wednesday, CRIF Lending Solutions announced a partnership to integrate Carvana’s online automotive retail platform with its ACTion and SAIL loan origination systems.
CRIF said its new collaborative effort aims to help financial institutions effectively reach pre-approved customers or members for direct auto loans.
“Integrating our platforms with partners like CRIF Lending Solutions provides consumers with an expanded variety of financing options, saving them valuable time,” Carvana chief executive officer and co-founder Ernie Garcia said.
The ACTion platform provides omni-channel access to provide responsive and efficient use of lenders’ services via online, branch, indirect and mobile sources.
“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,” CRIF said.
The company’s software application for integrated lending platform, known as SAIL, enables financial institutions to streamline the loan application process.
CRIF said the web-based lending software also increases productivity and strengthens loan tracking and reporting capabilities.
“In an already ultra-competitive auto lending market, our goal continues to be providing technology for advantages in every segment,” Kyle Kehoe, president of CRIF’s ACTion division said. “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.”