NORTH SYRACUSE, NY, April 16, 2009
/24-7PressRelease/ -- 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."
The agreement is effective immediately. Dealers interested in further information may contact the RouteOne Sales Support team at 866.933.0663.
About XpressCredit
XpressCredit is a leading provider of a web-based, indirect lending platform. Its patent-pending solution links lenders with auto, motorcycle, RV and marine dealers nationwide. A pre-screen of the applicant and collateral provides the ability for lenders to evaluate applications quickly and efficiently. Founded in 1999, XpressCredit is a New York corporation headquartered in Syracuse, NY. For more information or to register, go to http://www.xpresscredit.net or contact Mark W. Louer, Executive Vice-President (315) 634-5101 x206, mlouer@xpresscredit.net.
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