3,000th Lender Signs with VINtek for Automotive Collateral Management Technology and ELT Services


Vintek (select to view enlarged photo)

PHILADELPHIA--June 25, 2013: VINtek, a provider of automotive collateral management, electronic lien and title (ELT) services and direct finance processing for automotive lenders, announced the signing of its 3,000th ELT customer.

“Hitting the 3,000 customer mark is an enormous complement of our products and the hard work of the entire VINtek team”

ELT replaces a paper title and lien with data exchanged electronically between a department of motor vehicles (DMV) and a lienholder. The cost savings and reduction in exposure to fraud is motivating a growing number of state legislators to implement ELT programs. To date, 19 states have implemented ELT programs, with Florida, Georgia and Wisconsin recently passing legislation requiring most, if not all lienholders to participate in their ELT programs. Iowa is the latest state to initiate implementation of an ELT program for lienholders.

VINtek has seen its customer base grow significantly because lenders are seeking the high level of customer satisfaction and reliability associated with the company's VINtekTIME ELT system. ELT saves significant time and money for financial institutions, as well as increases consumer satisfaction by automating parts of the lien release process.

"We were VINtek's first ELT client in 1997 when Pennsylvania introduced the program and have had a strong partnership for 16 years," said William Zysk, vice president of lending at $4.2 billion Pennsylvania State Employees Credit Union. "ELT has continued to create efficiencies in our organization and VINtek has been with us from day one."

"Hitting the 3,000 customer mark is an enormous complement of our products and the hard work of the entire VINtek team," said Larry Highbloom, president of VINtek. "The adoption of ELT continues across the country and we are proud to play a role in promoting the efficiency of ELT services to states and other stakeholders. VINtek remains focused on providing the highest level of ELT expertise to current customers and future automotive lienholder partners everywhere, which is evidenced by the retention of our very first customer for ELT services."

About VINtek

In its 23rd year, Philadelphia-based VINtek provides automotive collateral management services, ELT and direct auto finance solutions for banks, credit unions and other auto finance institutions. Through its offices in Philadelphia, Las Vegas, Sacramento, Calif., and Troy, Mich., VINtek enables lenders to increase customer satisfaction and operating efficiency while simultaneously decreasing costs and errors associated with automotive collateral management through the introduction of innovative consumer loan servicing technologies. VINtek holds two U.S. patents on automotive lien processes and is the recipient of numerous industry awards for its processing services.

Home | Buyers Guides By Make | New Car Buyers Guide | Used Car Super Search | Total New Car Costs | New Car and Truck Reviews
Automotive News | TACH-TV | Media Library | Discount Auto Parts

Copyright © 1996-2014 The Auto Channel. Contact Information, Credits, and Terms of Use. These following titles and media identification are Trademarks owned by The Auto Channel, LLC and have been in continuous use since 1987 : The Auto Channel, Auto Channel and TACH all have been in continuous use world wide since 1987, in Print, TV, Radio, Home Video, Newsletters, On-line, and other interactive media; all rights are reserved and infringement will be acted upon with force.

Privacy Statement | Size Does Matter | Media Kit | Affiliates

Send your questions, comments, and suggestions to Editor-in-Chief@theautochannel.com.

Submit Company releases or Product News stories to submit@theautochannel.com.
Place copy in body of email, NO attachments please.

To report errors and other problems with this page, please use this form.

Link to this page: http://www.theautochannel.com/

*