Outsource Financial Services will automate its call center with CreditRevue 2000 and CreditConnection software from Credit Management Solutions Inc., headquartered in Columbia, Md. CreditRevue 2000 enables consumer lenders to maximize profitability through more knowledgeable decision-making, faster turnaround and improved productivity.

CMSI's CreditConnection is an on-line, real-time connection that closes the electronic loop between third-party originators, such as car dealers, and the lender.

A division of the Van Wagenen Co., Outsource Financial Services was formed earlier this year to act as a fullfunction, extended-hour consumer loan origination center featuring call center services. This approach allows lenders to move credit origination expenses from fixed to variable in nature; as a result, they can respond effectively and rapidly to fluctuations in loan demand, free from worry about capacity issues and staffing requirements, according to the company.

With the CMSI software, Outsource Financial will be able to automate the entire credit application process, including application entry; credit bureau interfaces; access to on-line data bases, such as the Kelley Blue Book, Vintek and NADA; detailed credit report summary and analyses that can be presented in a variety of ways; transfer of funding information to lenders accounting systems; and, if requested by Outsource Financial clients, loan documentation branded with their names and logos.

With CreditConnection, credit applications and related information that are keyed in by car dealerships will be automatically routed, via CreditConnection's computer switch, to Outsource Financial's CreditRevue 2000 system. The system will then process the applications based upon the lender's underwriting criteria and transmit the loan decision back to the car dealer in under five minutes.

Copyright Kentucky Bankers Association Sep 1998
Provided by ProQuest Information and Learning Company. All rights Reserved

Bibliography for "Automated car loans"

View more issues: Jul 1998, Aug 1998, Oct 1998

"Automated car loans". Kentucky Banker Magazine. Sep 1998. FindArticles.com. 16 Jun. 2008. http://findarticles.com/p/articles/mi_qa5353/is_199809/ai_n21427702