Union Bank & Trust is looking for ways to improve its online platform in an effort to provide quicker response to its network of more than 260 auto dealers nationwide, Charles Muncy, senior vice president and senior director of the bank’s dealer division, told Auto Finance News.
The bank is scouting technology partners to launch e-contracting, Muncy said, as well as to make modifications to its automated decisioning process to enhance dealer services. “However, we do not want to go completely automated as our dealers value Union Bank & Trust’s bankers for their knowledge and experience,” he added.
Headquartered in Ruther Glen, Va., Union Bank was founded in 1902 with a budget of merely $2,500. The bank was formed when Union Bank & Trust merged with First Market Bank in 2010, retaining the name First Market Bank. The name changed back to Union Bank & Trust in 2014 when Union First Market Bank merged with StellarOne Bank.
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