Dealertrack Selected to Provide Vehicle Title Administration to Regional Acceptance Corporation
February 06 2013 - 9:00AM
Business Wire
Building on an existing partnership,
Dealertrack Technologies, Inc. (Nasdaq: TRAK), today announced that
Regional Acceptance Corporation has successfully moved its title
administration processing to Dealertrack’s Total Title
Solution.
Regional Acceptance, headquartered in Greenville, North
Carolina, and an affiliate of BB&T (NYSE: BBT), is a leading
auto finance company committed to delivering quality automotive
financing solutions to both their dealers and customers. In
addition to Total Title Solution, the company uses Dealertrack’s
Credit Application and Digital Document Services in their
operations.
“We use Dealertrack’s proven services to achieve scalability
that is critical to effective and efficient business management,”
said Will Sargent, vice president, Operations, Regional Acceptance.
“It is a practical business decision for us to expand our
Dealertrack utilization to include the management of our paper and
electronic titling needs. This will allow us to better control
expenses and enhance customer service.”
“Dealertrack and Regional Acceptance have created a strong
partnership over time. By including vehicle title management,
Regional Acceptance can further improve efficiencies throughout its
loan origination and back-office processing,” said Kathy Kassinos,
vice president and general manager, Collateral Management and
Digital Document Services for Dealertrack. “Dealertrack is a
partner that automotive financing companies, like Regional
Acceptance, can work with to deliver efficiencies throughout their
operations and continuously meet their ever-changing business
needs.”
Total Title Solution is one of a family of collateral management
and digital document services offered by Dealertrack’s Processing
Solutions group. Dealertrack’s Total Title Solution is used by
thousands of lenders and lessors nationwide to effectively and
efficiently manage paper and electronic titles.
About Regional Acceptance Corporation
Greenville, N.C-based Regional Acceptance Corporation
specializes in indirect sub-prime automotive financing and prime to
near prime portfolio acquisitions. An affiliate of BB&T
Corporation, Regional Acceptance Corporation has 27 regional
business centers and three customer service centers supporting
dealers and customers in 32 states. The company offers many dealer
lending programs tailored to state guidelines and dealers’ specific
needs. More information about the company is available at
www.regionalacceptance.com.
About Dealertrack Technologies
(www.dealertrack.com)
Dealertrack Technologies’ intuitive and high-value web-based
software solutions and services enhance efficiency and
profitability for all major segments of the automotive retail
industry, including dealers, lenders, OEMs, third-party retailers,
agents and aftermarket providers. In addition to the industry’s
largest online credit application network, connecting more than
19,000 dealers with more than 1,200 lenders, Dealertrack
Technologies delivers the industry’s most comprehensive solution
set for automotive retailers, including Dealer Management System
(DMS), Inventory, Sales and F&I, Interactive and Registration
and Titling solutions. For more information visit
www.dealertrack.com.
Safe Harbor for Forward-Looking and Cautionary
Statements
Statements in this press release regarding the benefits of
Regional Acceptance Corporation utilizing Dealertrack’s Total Title
Solution and all other statements in this release other than the
recitation of historical facts are forward-looking statements (as
defined in the Private Securities Litigation Reform Act of 1995).
These statements involve a number of risks, uncertainties and other
factors that could cause actual results, performance or
achievements of Dealertrack Technologies to be materially different
from any future results, performance or achievements expressed or
implied by these forward-looking statements.
Factors that might cause such a difference include the adoption
by Regional Acceptance Corporation of the Dealertrack Total Title
Solution, and other risks listed in our reports filed with the
Securities and Exchange Commission (SEC), including our Annual
Report on Form 10-K for the year ending December 31, 2011. These
filings can be found on DealerTrack Technologies’ website at
www.dealertrack.com and the SEC's website at www.sec.gov.
Forward-looking statements included herein speak only as of the
date hereof and Dealertrack Technologies disclaims any obligation
to revise or update such statements to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events or circumstances.
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