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XpressCredit Integrates with ACS for Access by Non-Franchised Dealers to RouteOne Finance Sources
April 14, 2009
XpressCredit and Automobile Consumer Services, Inc. (ACS) announced today the completion of an agreement to allow seamless throughput of auto applications from ACS dealers and affinity groups to RouteOne’s finance sources. The agreement utilizes the RouteOne service for the non-franchise dealer network in the U.S. market. The agreement leverages XpressCredit’s patent-pending technology and allows ACS to provide filtered credit applications to RouteOne’s finance sources. The XpressCredit platform’s proprietary filtering technology allows only applications that fit a finance source’s specific criterion to pass through to the institution’s underwriting department, thereby enhancing efficiency, approvals and look to book ratios.
“Working with XpressCredit helps ACS achieve better credit performance metrics with our lending sources by automating the credit decision process. The XpressCredit integration also helps ACS's internal efficiencies, enabling us to handle more volume from our various large affinity groups,” says Tarry Shebesta, President of ACS. “Teaming with Route One gives ACS a cost-effective, direct connection to our lenders, and opportunities for other banks and credit unions to do business with us.”
“RouteOne is excited to serve as a technology bridge, allowing third party networks to connect with our participating finance sources,” said Mike Jurecki, RouteOne CEO. “This technology provides great benefit to our finance sources, as they can enjoy synergy with their existing connectivity to RouteOne to receive auto, RV, power sport, and marine credit applications from outside of our existing franchised dealer network. Our relationship with XpressCredit and ACS provides our finance sources access to high-quality applications from a number of consumer websites.”
Mark W. Louer, EVP of XpressCredit, said, “leveraging the technology capabilities of each partner creates economies of scale and efficiencies for the lenders. Access to a wider spectrum of lenders through Route One and ACS, solidifies our dealer relationships.”
About Automobile Consumer Services, Inc. (ACS)
ACS is a leading provider of online auto financing and leasing, online vehicle marketing, and software development. Our proprietary technology and automotive experience give ACS a competitive edge in the industry. More information is available at www.acscorp.com
About RouteOne
RouteOne was formed in 2002 by Chrysler Financial, Ford Motor Credit Company, GMAC, and Toyota Financial Services to create a more streamlined credit application for automobile dealers and their customers. Providing access to more than 21,500 dealers in North America, RouteOne’s web-based system allows automotive dealers to submit credit applications to the largest indirect lenders, request credit reports, and increase profitability with RouteOne’s free Dealer Reporting Suite. RouteOne’s open integration business model also allows the dealer to integrate with their choice of a wide variety of best in class providers, including DSPs, CRM systems, F&I modules and menu providers. RouteOne offers dealers a common platform for all their credit application financing needs. More information is available at www.routeone.com.
About XpressCredit
XpressCredit.net runs on patent-pending software with the sophistication of systems found at major financial institutions and the power of on-the-spot financing capabilities found at national dealerships. XpressCredit.net is a wholly-owned service of Premier Internet Communications, Inc., a privately held U.S. corporation founded in 1999.
XpressCredit.net is a wholly owned service of Premier Internet Communications, Inc.