DaimlerChrysler Unit Selects CMSI for Lending Automation Solutions
debis Financial Services, Inc. Implements Suite of CMSI Credit
Origination and Risk Management Tools
ANNAPOLIS JUNCTION, Md., Nov. 18 /PRNewswire/ -- Credit Management
Solutions, Inc. (Nasdaq: CMSS) today announced that DaimlerChrysler's indirect
auto lending subsidiary, debis Financial Services, Inc., has selected CMSI's
state-of-the-art credit automation technologies to revolutionize its
automobile finance operations.
debis Financial Services, Inc., based in Roanoke, Texas, provides lending
and leasing services to over 1400 automobile dealers throughout 37 states.
debis is installing CMSI's suite of credit automation tools, including the
patented CreditConnection service that electronically links dealers to funding
sources nationwide; LenderLink, an adjunct service that lets CreditConnection
participants exchange loans; and CreditRevue, a credit origination system.
Brian Reed, Managing Director of debis Financial Services, Inc. said his
company decided to implement a full line of CMSI credit automation tools in
order to position debis as a premier service provider in the indirect auto
financing industry.
"CMSI's CreditRevue gives us the ability to provide faster application
turnaround time as well as to more accurately track risk. CreditRevue will
help debis enhance consistency and service to our dealer base," said Reed.
"We are also excited about the detailed information that CMSI's internal
management function provides," added Reed. "We will be better equipped to
track individual dealer programs and report specifically on the performance of
each program, each dealer and each dealer group." debis is installing:
* CreditRevue, CMSI's flagship product, a credit origination system
that automates and speeds the processing and decision making
associated with all types of consumer and small business loans.
* CreditConnection, the online lending service operated through CMSI's
subsidiary, Credit Connection, Inc. CreditConnection links
automobile dealers to a network of lenders throughout the United
States and Canada. It allows dealers to submit applications
electronically to the credit origination systems of multiple lenders
and receive decisions quickly.
* LenderLink, an electronic network that allows lenders who are part
of CreditConnection to buy and sell loans.
"CMSI recognizes the importance of managing risk with scalable, open
systems like CreditRevue," said Scott L. Freiman, President and CEO of CMSI.
"Whether a lender links electronically to dealers using CMSI's patented
CreditConnection network and service as more than a score of lenders do today,
or they maintain proprietary links to dealers originating loans, CreditRevue
provides valuable automation tools that help improve the profitability of
their credit portfolios." |
