CoreLane Technologies, a provider of innovative transactional connectivity solutions for dealers and finance companies, on Monday announced that Automotive Credit Corp. will make the innovative CreditLane platform available to its network of dealers.
Executives highlighted the CreditLane platform, which can integrate into the store’s dealer management system (DMS) and the finance company’s loan origination system (LOS), can significantly increase efficiencies and eliminate errors throughout the application and funding process.
Dealers receive real-time notifications as the contract status changes, and the final deal structure is pushed back into the dealer’s DMS.
CreditLane also can enable finance companies to grow their portfolios by providing them visibility to a broad array of dealers. The CreditLane Lender Directory can provide dealers with access to marketing information from lenders enabling them to easily identify, connect and submit applications to CreditLane lenders.
“At ACC, we strive to provide the best service to our dealers, and this has helped us become the fastest growing lender in the subprime auto finance industry” said Jaime Favela, senior enterprise business analyst at Automotive Credit Corp.
“Via the dealers’ DMS, CreditLane informs them of any important changes to the loan structure in real-time, so CreditLane dealers benefit from a higher close ratio and a faster funding track,” Favela continued. “These efficiency gains deliver lower operating costs and increased customer satisfaction, all while improving both gross profits and cashflow.
“Automotive Credit Corp. looks forward to delivering to CreditLane dealers the same industry leading service that we have built our business on over the past 26 years,” Favela went on to say.
Bill Medved, senior vice president of technology and operations of CoreLane, touched on what bringing Automotive Credit Corp. means.
“The CreditLane solution is designed to greatly increase the transactional efficiencies between dealers and lenders through an intuitive platform that is ‘One Click Simple,’” Medved said.
“We see our partnership with Automotive Credit Corporation as a mutually beneficial one as they bring over 25 years of experience and ideas that are already helping us to develop new product lines,” Medved added.
For more information on CoreLane and its portfolio of technology solutions for dealers and finance companies, visit www.corelanetech.com.