SAFCo has inked a deal to implement a loan-origination system developed by Defi Solutions.
Fort Lauderdale, Fla.-based SAFCo seems to be making a play to become a bigger player in the coming year, at a time when nonprime loans represent the fastest growing segment of the market. In addition to the more efficient technology, SAFCo has told Auto Finance News in recent months that it plans to expand to the Mountain and Pacific Time zones in the summer, pushing out of its traditional southern and East Coast markets. With bigger banks delving into lower credit tiers, catching up in the tech department could prove crucial to SAFCo’s ability to continue to compete in the nonprime space.
CIG Financial, Skopos Financial, and CashCall Inc. already use Defi’s technology.