Black Book has added three of the top providers of loan origination systems used by auto lenders to its rolodex, the company announced today.
Credex Systems, Compass Technologies and Financial Network Inc., are just a few of the recent loan service software providers that have teamed up with Black Book to use the company’s valuation data, citing a need to stay competitive and increase efficiency, according to the release.
“Efficiency and speed of approval can greatly impact our lender customers’ ability to compete and realize larger profit potential,” Lloyd Wright, president of Credex Systems, said. “With Black Book vehicle value data fully integrated into the loan origination system, lenders can reduce application errors and streamline the entire approval process for clients entering their portfolio.”
Jared Kalfus, vice president of data licensing for Black Book, said that the company’s footprint has expanded in the auto finance segment of the market due to increased demand for access to the company’s data. Most notably, that data is integrated into loan origination systems powered by Defi Solutions, Fidelity, Crif Lending Solutions, Argo Data Resources Corp, Meridian Link, Allied Business Solutions, and Megasys.
Black Book, a division of the Hearst Business Media Corporation, is best known within the automotive industry for its new and used vehicle value services, custom data licensing solutions, and lender origination and risk analysis.
Ricky Beggs, senior vice president and editorial director at Black Book, recently participated in a webinar entitled How to Play the Great Lease Return, for the Center for Auto Finance Excellence, where he gave advice on how lenders can prepare for the impending flood of lease vehicles soon to re-enter the market.
