Tag Archives: Dealer

CUDL Reaches ten,000 Auto Dealer Milestone

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Ontario, CA (PRWEB) June 27, 2013

CUDL (http://www.cudl.com), administrators of the biggest auto lending service network for credit unions in the United States, has announced that its lending network has expanded to contain ten,000 dealers.

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The firm revealed that the CUDL lending network reached the record milestone with the development of over 1,000 dealers in the final year, like dealer expansion as a result of their new operation in Quebec, Canada. The CUDL network includes far more than 1,050 credit unions, representing 35 million members nationwide. CUDL credit unions have seasoned 16% development in funded loans thus far in 2013.

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For far more than 20 years, CUDLs credit union auto lending network has offered credit unions the potential to assist members and consumers achieve credit union financing at the dealership, and helped dealerships sell more automobiles.

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“I congratulate CUDL for reaching the considerable milestone of ten,000 dealers utilizing the CUDL program,” notes John Lund, president and CEO of Riverdale, Utah-primarily based America First Credit Union, and chairman of CUDLs Board. “This indicates just how relevant the solutions of CUDL are to dealers all through the nation. The outstanding items and services supplied by CUDL offer a winning resolution for dealers, credit unions, and most importantly credit union members.”

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“We have actually enjoyed our partnership with CUDL over the final six years. It has supplied us with the chance to reach a larger buyer base, that being the credit union member,” says Tim Rivers, finance director for San Antonio, Texas-based Gunn Honda. “With the CUDL platform we have also been introduced to new lenders that were unavailable to us prior to the relationship being formed. In addition, with the SMARTFund feature, we are being funded a lot more rapidly, decreasing our Contracts in Transit, and escalating our cash flow.”

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About CU Direct Corporation

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Established in 1994, CU Direct Corporation has helped the credit union business fund over $ 120 billion loans by getting the nations leading lending resolution provider for credit unions. Representing more than 1,000 credit unions, CU Direct specializes in options that help credit unions generate loans, manage threat and supply value to members. CU Direct Corp. delivers a diverse, extensive library of goods and services developed to assist credit unions advance their lending programs and attain overall portfolio achievement. Options incorporate CUDL, Lending Insights, Lending 360, OnSpot Financing, Vero, and its suite of auto purchasing merchandise. For far more data about CU Direct Corporation pay a visit to http://www.cudirect.com.

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Silanis Delivers Electronic Signing and Vaulting Capabilities to ADP Dealer Services’ Digital Contracting Answer

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Montreal, QC (PRWEB) October 12, 2006

Silanis Technology today revealed that it is the electronic signature and vault provider behind ADP Dealer Services’ Digital Contracting solution in the U.S. Named ApproveIt Web Server, the resolution enables automobile buyers, dealers, lenders and investors to participate in a completely automated financing process in which all sales and financing documents can be processed electronically, such as the archival, pooling, and securitization of contracts.

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Eliminating the inefficiencies of paper from the procedure will give instant benefits to every person involved. Purchasers will commit less time waiting for and signing the 25+ documents required to buy a automobile and apply for a loan. Dealers will spend much more time with consumers, while submitting contracts more swiftly and accurately to lenders, resulting in more quickly funding. Lastly, lenders will commit much less time verifying retail installment contracts simply because the data contained inside will be comprehensive, and match the terms of the loan approval.

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“For far more than 25 years, dealers have turned to ADP to facilitate their F&ampI processes,” stated Paul Rindone, Vice President of the Monetary Services division of ADP. “Our Digital Contracting answer tends to make the contracting process more quickly, much more precise and comprehensive.”

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Silanis’ solution permits ADP to integrate legally enforceable, electronic signatures, safe vaulting, and authoritative copy management into their technologies offering without having altering the workflow that clients, dealers, lenders and investors are familiar with.

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F&ampI managers continue to guide customers by way of the evaluation and signing procedure of documents, but rather than sign the contracts with pen and paper, clients can use the electronic signature pad provided by the Silanis’ resolution. Since the approved loan terms are automatically added to the corresponding electronic contract, the amount of errors and information omissions are substantially lowered.

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When the deal is finalized in the back workplace, clerks can then electronically transmit the contract to lenders. Silanis’ electronic vaulting remedy enables external parties to confirm a non-authoritative copy of the electronic contract and authenticate its contents, including the signatures and the data that has been signed. Just as in the paper planet, ownership of the contracts can be transferred primarily based on UCC 9-105 needs.

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The foundation for Silanis’ platform is ApproveIt – a 6th generation technologies that combines the safety of a digital signature with a legally enforceable approach and advanced usability characteristics. This special ‘docu-centric’ method permanently embeds the digital signature and creates a corresponding audit trail within the documents so that they remain safe as they travel from user to user and program to technique. This also enables Silanis’ platform the flexibility and seamless integration with the auto-finance industry’s current business processes.

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The ApproveIt platform consists of two solutions for the automotive industry: ApproveIt

Open Dealer Exchange Selects Silanis as its e-Contracting Options Companion

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Montreal, QC (PRWEB) June ten, 2009

Silanis Technology’s subsequent-generation Electronic Signature Procedure Management (ESPM) remedy, ApproveIt Web Server three., , has been chosen by Open Dealer Exchange, a newly formed joint venture among market leaders ADP Dealer Services and The Reynolds and Reynolds Business to give e-contracting solutions. Silanis’ solutions will enable a completely automated financing method in which all sales and financing documents will be processed electronically, which includes the creation and storage of legally compliant electronic loan contracts. This new agreement contains ApproveIt Web Server 3.0e-signature process management remedy and ApproveIt Transferable Records Manager remedy.

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Open Dealer Exchange was launched earlier this year to support lenders greater integrate the loan origination process which includes credit application processing, contract information integration and e-contracting, into an auto dealer’s transactional, point-of-sale technique. The purpose is to improve operational efficiencies resulting in a faster, a lot more accurate sales method. Silanis plays a important function in e-contracting fulfillment by transforming a manual, paper-primarily based procedure to a completely electronic, Internet-based e-transaction.

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Tommy Petrogiannis, Silanis’ President, remarked, “We are seeing a substantial increase in interest from lending organizations such as ODE that are leveraging e-signatures and e-vaulting technologies to complete straight by way of processing and materially lessen the cycle time and expense connected with every transaction.”

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Silanis’ options enable Open Dealer Exchange to integrate electronic signature capabilities, secure vaulting, and authoritative copy management into the dealership’s existing workflow. External parties can also verify a non-authoritative copy of the electronic contract and authenticate its contents, including the signatures and the information that has been signed. Ownership of the contracts can be transferred electronically in compliance with UCC 9-105 specifications.

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“Open Dealer Exchange was formed to bring higher opportunities and efficiencies to the auto lending procedure and we are excited about the capabilities Silanis offers to help attain these ambitions,” states Marty Zwolan, Vice President of Sales for Open Dealer Exchange.

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Lenders, dealers and purchasers alike will benefit from the system’s straight-through processing capabilities. Lenders will invest significantly less time verifying retail instalment contracts since the data contained therein will be full, and match the terms of the loan approval. Dealers will commit far more time with clients, even though submitting contracts a lot more quickly and accurately to lenders, resulting in more rapidly funding and buyers will commit much less time waiting for and signing the several documents needed to purchase a car and apply for a loan.

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ApproveIt