Champlain National Bank expanded its suite of auto loan offerings to include indirect auto lending, with the May 23 implementation of TCI’s cloud-based DecisionLender 4.0 loan origination system, said Steven Cacchio, the bank’s president and chief executive. Limited growth potential in the direct lending space, Champlain National’s bread-and-butter offering, prompted the Willsboro, N.Y.-based prime lender to roll out an indirect product.
On the heels of deploying the TCI LOS system, Champlain joined the Dealertrack and RouteOne systems. Champlain National Bank has nine branches across Northern New York. It works with eight dealers, with “conservative plans” to double that number by yearend, Cacchio said. “We are working very slowly and deliberately” to ensure the bank is comfortable with the way the indirect program is working with its dealers and how the loans are performing, he added.
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