Fiserv Hands Out Annual Auction Awards
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BROOKFIELD, Wisc. –
Fiserv announced its auction award winners on Monday, and the top-performing accolade went to the same location for the second year in a row.
Taking the 2014 honor from Fiserv was Carolina Auto Auction for its continued outstanding customer service and strong sales results. Carolina AA, based in Anderson, S.C., also received this award for 2013.
Fiserv began ranking auto auctions in 2001 as a way to aid finance companies seeking the greatest potential return on their outsourcing investment. Fiserv scores auctions in order to identify qualified partners.
The National Quality Control Program scoring that Fiserv uses is based on overall sales effectiveness, operational excellence, sales preparation and marketing.
“Carolina Auto Auction is a trusted partner that works to deliver outstanding results every day,” said Jarrod Nawojski, auction sales and performance manager, Remarketing Strategies, Lending Solutions, Fiserv. “They have been a top performer in our ranking every year since 2002.”
Indiana Auto Auction in Fort Wayne, Ind., was ranked second, placing it in the top three auto auctions in each of its first three years of eligibility. Rawls Auto Auction in Leesville, S.C. ranked third overall for 2014, the first year the auction has been eligible for the Fiserv ranking since 2005.
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To be eligible for the top performance designation, an auction must be a member of the National Auto Auction Association, have sold vehicles with Fiserv for the last 12 months or more, have a minimum of eight represented sale audits in the calendar year and sold more than 500 vehicles in the calendar year.
Fiserv also recognized two auctions that had the strongest performance in customer service and excellence in timeliness in 2014:
— Manheim Orlando based in Ocoee, Fla.
— Manheim Tampa based in Tampa, Fla.
Fiserv provides end-to-end solutions to the automotive market that minimize risk, expedite vehicle sales, maintain compliance and lead to higher levels of borrower satisfaction. These solutions are used by captive finance companies, banks, specialty lenders and credit unions for loan and lease origination, account servicing, loss and risk mitigation, lease maturity management and vehicle remarketing.
As part of its outsourcing model for auto finance companies, Fiserv partners with auction groups to remarket off-lease and repossessed vehicles. Fiserv managed the remarketing of more than 72,000 vehicles in 2014.