Market Scan and Tekion, a dealer management system provider, have launched a partnership after a year of production development and integration, Market Scan’s President Rusty West told Auto Finance News.
The deal will allow Tekion’s dealer customers to leverage Market Scan’s white-label payment calculation technology, called mScanAPI, through its platform.
Tekion is a San Roman, Calif.-based startup founded in 2016. The company is partnered with General Motors, Renault-Nissan-Mitsubishi, and BMW’s accelerator program and provides a cloud-based automotive retail platform that facilitates the sale of F&I products, servicing, accounting, and data analytics. Market Scan tracks automotive data across lenders, OEMs, dealers, customers, and municipalities, and includes related analytics, such as monthly payments, registration rates and tax percentages, West explained.
During the past year, the two companies have been working closely to develop products, including about 80 features and enhancements that were built specifically for Tekion.
“It took a lot of programming and enhancements to build that structure for [Tekion],” West said, adding “it’s been challenging but the speed with which our product has evolved” due to the partnership has been unexpected.
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