Dealertrack Credit Application Network Achieves Milestone of 1,300 Lender Connections
May 02 2013 - 9:00AM
Business Wire
Dealertrack Technologies (Nasdaq: TRAK) today announced that the
number of active lenders connected to its Dealertrack Credit
Application Network now exceeds 1,300 lenders.
The Dealertrack Credit Application Network, which has grown from
five lenders in 2001 to more than 1,300 lenders today, allows
dealers to electronically submit application data to the industry’s
most diverse network of banks, independent finance companies,
captives and credit unions.
“”The Credit Application Network has been the heart of
Dealertrack since the company’s inception in 2001, and remains the
automotive retail market’s largest finance network for indirect
automotive lenders,” said Michael Collins, vice president, Lender
Finance Solutions, Dealertrack. “The network is a core and
strategic part of Dealertrack’s overall Dealflow Advantage,
designed to create greater efficiencies in financing and selling
vehicles for dealers.”
Dealertrack Dealflow Advantage: Driving
Profits and Value for Dealers
The Dealertrack Dealflow Advantage underscores Dealertrack’s
commitment to workflow efficiencies that help drive profits and
value through every step of a customer interaction and transaction
for dealerships. Dealers can leverage the Dealflow Advantage
through a number of Sales and F&I tools and solutions,
including digital retailing, credit application processing, F&I
product aftermarket selling, electronic contracting, compliance and
registration and titling, to create a seamless and efficient
customer experience and workflow for one’s dealership.
In addition, the Dealertrack Dealflow Advantage delivers
innovation and advanced Sales and F&I functionality.
Dealertrack Mobile enables dealers and lenders to securely manage
and monitor finance and consumer credit application activities in
real-time from their mobile device. Since its introduction last
year, more than 23,000 users at more than 13,000 dealerships and
lenders in North America are leveraging the power of the
Dealertrack Mobile application.
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 1,300 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.
Safe Harbor for Forward-Looking and
Cautionary Statements
Statements in this press release regarding the benefits of the
Dealertrack Dealflow Advantage 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
performance and dealer and lender acceptance of the Dealertrack
Credit Application Network and Dealertrack solutions, 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, 2012. 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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