CreditMiner recently reached an agreement with Equifax to give the credit inquiry tool access to the Prescreen of One service, an Equifax solution for individual, real-time prescreens that can help consumers by letting them know they are qualified for financing and enhance business prospects for dealers and finance companies.

In addition to the deployment of Prescreen of One, CreditMiner and Equifax indicated they will continue to develop innovative solutions in data and technology,

“CreditMiner created this real time space, allowing dealers a real-time solution to access consumer credit data that changes the face and profitability of any retail automotive dealership utilizing the tool.  The fact that we were able to establish this relationship speaks volumes as to compliance and functionality of the tools we currently offer,” said Don O’Neill, vice president of sales and marketing at CreditMiner.

“Our goal has always been to provide a solution to dealers that not only increases sales efficiency and profitability, but that lowers their burden of compliance risk,” O’Neill continued. “With a suite of products that adds Equifax data and allowed usage scenarios, we feel it positions us to dominate the space, not just lead it.”

CreditMiner, DeskMiner and ServiceMiner can allow dealers to pre-screen candidates and provide consumers who pass the credit filters, firm offers of credit through its proprietary, patent-pending technology in both vehicle sales and service function areas.

“Our dealers realize that knowledge is power, not just to hold gross, but to be able to provide the consumer with a faster, more efficient, pleasurable buying experience.  With DeskMiner, we put the tools into the manager’s hands to provide consumers valuable, effective offers.”  O’Neill said.

“For example, knowing when to initiate a sale in the service lane with an offer for a loan based on the consumer’s current real-time credit profile is important,” he added. “If a consumer is made aware they can obtain financing that either lowers monthly payments or reduces overall finance charges, they are more likely to engage.”

With Prescreen of One, Equifax does not require a dealer to collect a Social Security Number or a date of birth.  This process can provide dealers with access to prescreened offers, without having to collect, handle or store their consumer key identifiers, reducing data security risk.

“Having access to CreditMiner has given our sales a measurable boost by speeding up the process of qualifying consumers and penciling deals to fund,” said Rodney Back, general manager from Dave Edwards Toyota in Spartanburg, S.C.  “Most importantly, with the addition of Prescreen of One, we’ll have Equifax data to make the offers that suit our customers best, moving the vehicle delivery process along more efficiently.”

Gary Hughes, general manager of automotive services at Equifax, added, “We’re proud that CreditMiner has chosen to deploy our Prescreen of One solution within ServiceMiner and DeskMiner. Dealers everywhere want fast and convenient access to prescreened financing offers to best meet the needs of their customers, and DeskMiner provides just that.

“With ServiceMiner powered by Prescreen of One from Equifax, the dealership service team can now reflect a more complete view of the consumer’s purchase consideration, as opposed to a partial view that may impact that sale or consumer later in the purchase funnel.  In today’s retail environment the understood value by the consumer is the fuel that drives satisfied and successful decisions,” Hughes went on to say.

For more information on CreditMiner, visit www.ecreditminer.com or call (877) 213-7042.