Wells Fargo Equipment Finance Partners with DataScan
DEERFIELD BEACH, Fla. — Wells Fargo Equipment Finance has chosen DataScan Technologies to serve as its systems provider for Wells Fargo's floorplan lending business in the U.S. and its affiliate in Canada.
According to officials, it took less than three months to implement the new system. Typically, six to nine months are needed to get DataScan's suite of systems into operation, officials noted. This process includes gathering requirements, converting data and conducting tests.
Wells Fargo is now using the Application Service Provider version of the following DataScan programs:
—Wholesale Management System
—Dealer Access System
—Collateral Management System
These programs are designed to provide customers with flexible lending products, detailed billing statements and the ability to access floorplan accounts online.
"Our best-in-class solutions work well for this industry by enhancing electronic communications between the floorplan lender and the equipment dealer," stated Frank Armstrong, president of DataScan. "We look forward to working with Wells Fargo — a well-respected leader in the equipment finance business."
Added Christopher Canney, vice president and director of IT for Wells Fargo Equipment Finance: "DataScan's state-of-the art floorplan solutions have streamlined our lending solutions through an easy-to-use, online interface. Our equipment dealers now have the tools they need to remain competitive."