Credit unions to enjoy instant auto loan decisions via indirect lending
channel
HAUPPAUGE, N.Y., March 21 /PRNewswire/ -- Teledata Communications, Inc.
("TCI"), a leading provider of Internet information retrieval and processing
solutions, has been selected by GrooveCar, Inc. a complete automotive and
buying support program for credit unions, to provide them with DecisionLender,
an Application Service Provider (ASP) based solution which is an end-to-end
indirect auto loan decisioning system.
Under the terms of the agreement, GrooveCar will utilize TCI's powerful
DecisionLender system under the name "AppTrac" to streamline the auto loan
process for their hundreds of participating GrooveCar dealers and dozens of
credit union clients. William Nass, President of Teledata Communications,
Inc., said that "we are pleased that GrooveCar has chosen DecisionLender and
we are confident that they and their credit union clients will be pleased with
the ease-of-use, speed, reliability, security and flexibility of our Web-based
DecisionLender system. Among its benefits, DecisionLender provides credit
unions with their own rules based lending criteria, electronic contract
printing and an optional interface to the credit union's core platform. Plus
DecisionLender is very scalable, which is an important feature for a fast-
growing company like GrooveCar."
David Jacobson, President of GrooveCar, explains that "we investigated
quite a few vendors over the course of a couple of years, and TCI came out on
top as the best solution for us. Our credit union clients are very excited
about the prospect of using AppTrac because it offers tremendous labor savings
for them, and it will really help increase their auto loan portfolios."
Both the new and pre-owned automobile dealers in GrooveCar's network will
also see immediate benefits from the new TCI-powered AppTrac system. According
to Jacobson, "We have a standard loan application for all credit unions so the
process is very streamlined. If the loan isn't automatically approved within a
few seconds at one credit union, the dealer can easily re-submit it to another
eligible credit union with just a click of a mouse."
About Teledata Communications, Inc.
Teledata Communications, Inc. was founded in September 1982. TCI employs
a staff of 40 talented professionals to serve their customers, including a
team of 20 who are highly dedicated to innovation and product development. In
addition to DecisionLender, TCI offers many other ASP-based products. For
additional information, visit TCI's website: http://www.tcicredit.com or call
toll free: 800 824 9069.
About GrooveCar
GrooveCar, a complete automotive and buying support program, provides
indirect lending services and automotive purchasing information to credit
unions and their members in New York's 5 boroughs, as well many counties in
southern New York and northern New Jersey. Their credit union clients include
such large and technologically sophisticated credit unions such as: Bethpage
Federal Credit Union, Teachers Federal Credit Union, Suffolk Federal Credit
Union, Nassau County Federal Credit Union and Nassau Educators Federal Credit
Union, to name a few. For additional information, visit GrooveCar's website:
http://www.GrooveCar.com or call toll free: 866-GROOVE4.
Forward-Looking Statements
Statements made in this news release that relate to future plans, events
or performances are forward-looking statements. Any statement containing words
such as "believes," "anticipates," "plans," or "expects" and other statements
which are not historical facts contained in this release are forward-looking,
and these statements involve risks and uncertainties and are based on current
expectations. Consequently, actual results could differ materially from the
expectations expressed in these forward-looking statements.
|
