New Software Helps With Speed and Efficiency During The Repossession Process of Automobiles

REDWOOD CITY, Calif--May 31, 2011 ­ OPENLANE, Inc., a leading online auction company in North America for automotive dealers to buy and sell wholesale vehicles, today announced its subsidiary, Recovery Database Network (RDN) is in the process of partnering with KeyCode Pro in order to develop a customized user interface that is intended to allow RDN subscribers to order a key code from KeyCode Pro within the RDN software environment.

The parties contemplate that through the RDN portal, KeyCode Pro will provide key codes necessary for RDN subscribers to cut keys on a repossessed vehicle. RDNšs planned integration with KeyCode Pro is expected to streamline the process for recovery agents and offer a more efficient way to conduct day-to-day business. This new offering by RDN, a specialized provider of software and data solutions related to the recovery of assets for the automotive finance industry, is yet another service that is intended to help make the recovery process quicker and easier.

"The proposed addition of KeyCode Pro to RDNšs suite of recovery industry software and data solutions is expected to allow our valued customers to turn a VIN into a key code with the click of a button," said Todd Hodnett, Director of RDN Services for OPENLANE. "KeyCode Pro is a reputable company that has served the recovery industry for 15 years and their reliable and professional services is a natural fit for our customers."

The KeyCode Pro partnership is expected to provide RDN users with a number of benefits, including: after hours requests, weekend requests, key blank ordering, automotive lock tech support, key blank information, and support for key cutting, key programming or security system issues.

OPENLANE, Inc. is a leading online auction company in North America for automotive dealers to buy and sell wholesale vehicles. The company offers end-to-end auto remarketing solutions to auto manufacturers, captive finance companies, lease and daily rental companies, financial institutions and wholesale auto auctions throughout the United States and Canada. OPENLANE powers online remarketing programs for American Honda Finance, Audi Financial Services, Avis Budget Group, BMW Financial Services Canada, Chase Auto Finance, Chrysler Financial, Porsche Financial Services, Southeast Toyota Finance, US Bank, Volkswagen Credit, among others. For more information, please visit Openlane or call +1 (866) 969-0321.