FinanceSource Aims to Improve Credit Verification Process
Friday, March 20th, 2009In a move to help perk up the auto sales industry, the real snag when it comes to closing a sale is the credit verification process. But now, all that will be covered as VW Credit, Inc. (VCI), recently launched FinanceSource a partnership between VCI and Dealer Management System (DMS) providers to build applications for faster, more accurate credit application processes for dealers.
FinanceSource will create seamless integration between the VCI financing systems and the dealers’ DMS systems. By entering customer information into one user-friendly interface, data entry is simplified, reducing administrative paperwork and the possibility for error.
Credit application integration is the first installment of a suite of solutions to be built and launched via FinanceSource. Contract data validation and the ability to receive, approve and save funding documentation electronically will follow. Ultimately, improved cash flow and faster funding are anticipated results for dealers as they strive to maximize cost efficiency and customer service.
(Source) Press
Tags: accurate credit, administrative paperwork, application integration, application processes, auto sales, cash flow, cost efficiency, credit application, credit verification, data entry, data validation, first installment, seamless integration, snag, vw credit