ORANGE, Calif.--(BUSINESS WIRE)--CoreLane Technologies, a leading provider of innovative transactional connectivity solutions for automotive dealers and lenders, today announced that Automotive Credit Corporation will make the innovative CreditLane platform available to its automotive dealers.
The CreditLane platform, which integrates easily and seamlessly into the auto dealer’s Dealer Management System (DMS) and the lender’s Loan Origination System (LOS), significantly increases efficiencies and eliminates errors throughout the auto loan application and funding process. Dealers receive real-time notifications as the loan status changes and the final deal structure is pushed back into the dealer’s DMS.
CreditLane also enables lenders to grow their portfolios by providing them visibility to a broad array of dealers. The CreditLane Lender Directory provides dealers with access to marketing information from lenders enabling them to easily identify, connect and submit applications to CreditLane lenders.
“At ACC, we strive to provide the best service to our dealers, and this has helped us become the fastest growing lender in the subprime auto finance industry,” said Jaime Favela, Senior Enterprise Business Analyst at Automotive Credit Corporation. “Via the dealers’ DMS, CreditLane informs them of any important changes to the loan structure in real-time, so CreditLane dealers benefit from a higher close ratio and a faster funding track. These efficiency gains deliver lower operating costs and increased customer satisfaction, all while improving both gross profits and cashflow. Automotive Credit Corp. looks forward to delivering to CreditLane dealers the same industry leading service that we have built our business on over the past twenty-six years.”
“The CreditLane solution is designed to greatly increase the transactional efficiencies between dealers and lenders through an intuitive platform that is ‘One Click Simple,’” stated Bill Medved, SVP of Technology and Operations of CoreLane. “We see our partnership with Automotive Credit Corporation as a mutually beneficial one as they bring over 25 years of experience and ideas that are already helping us to develop new product lines.”
About CoreLane Technologies
Headquartered in Orange County, California, CoreLane Technologies provides innovative Cloud-based technology solutions that enhance the flow of information between automotive dealers and finance companies. By simplifying and streamlining the movement of transactional data between dealers and finance companies, CoreLane’s solutions vastly improve the speed of the application process and minimize errors resulting in quicker approvals and faster funding.
About American Credit Corporation
Automotive Credit Corporation, headquartered in Southfield, Michigan, is a regional automobile finance company focused on the sub-prime market. Automotive Credit Corporation purchases installment contracts from both independent and franchised automobile dealers for consumers with limited or challenged credit histories who are unable to obtain financing from traditional sources.
Founded in Michigan in 1992, Automotive Credit Corporation recently extended its presence in California by acquiring Top Finance Company. ACC has partnerships with hundreds of dealers throughout the United States including Arizona, California, Florida, Illinois, Indiana, Michigan, Nevada, Ohio, and New York.