CreditConnection Now Offers Auto Dealers Online Enrollment; Faster Financing Is As Close As Your PC
Dealers Enrolling Through www.creditconnection.com Receive Free Trial Offer
COLUMBIA, Md., Oct. 29 /PRNewswire/ -- In a move to make its CreditConnection(R) service more easily available to dealers nationwide, Credit Management Solutions, Inc. (CMSI -- Nasdaq: CMSS) has unveiled a new CreditConnection website, www.creditconnection.com. CreditConnection is a combined electronic network and service which electronically connects third- party credit originators, such as auto dealers, with multiple financing sources for the submission and decisioning of loans and leases.
This new website enables dealers to enroll in the service online, in addition to providing instant access to product information and an online demonstration of CreditConnection. Now, for the first time ever, dealers interested in CreditConnection can visit the site to learn more about the service, and when ready to enroll, follow the simple instructions. Using this new enrollment method, dealers can sign up for the service in as little as 10 minutes.
For a limited time only, dealers enrolling in CreditConnection through the website, only, will have no monthly fees until February 1999.
"This new site lets dealers learn about the benefits CreditConnection brings to the dealership -- and even allows them to sign up for the service -- at any time, day or night," said Peter M. Leger, President of CMSI. "We recognize the value of the dealer's time and have added this new enrollment method to streamline the process to real-time electronic entry."
CreditConnection gives dealers electronic connectivity to their financing sources' application processing systems. Dealers simply input application data into their CreditConnection system, choose the lenders they'd like to receive the application, and push a button to submit the application. CreditConnection's high-speed electronic links transmit the data through CreditConnection's host computer in Columbia, Md. to the various financing sources the dealer has chosen. When a CreditConnection lender is chosen, the application data is loaded electronically into the lender's credit evaluation systems, bypassing the manual data entry step. This electronic data submission significantly reduces the time needed to process applications and return decisions back to the dealer. Decisions, including all associated comments, can be returned to the dealer in minutes through CreditConnection. Currently, 20 lenders are live on the CreditConnection service, including national and regional banks, as well as two of the major captive automotive finance companies.
The system is also able to fax the application to lenders who are not live on the service. This feature benefits both dealers and their lenders by providing application data in a typewritten, easy-to-read format, eliminating any misinterpretation of handwritten information. |
