Oracle9i For Auto Dealers

REDWOOD SHORES, Calif., Jan. 14 /PRNewswire-FirstCall/ -- Oracle Corporation, the world's largest enterprise software company, today announced that Credit Acceptance Corporation has developed a self-service credit application (portal) system using Oracle9i Application Server. As a result, Credit Acceptance was able to create a new revenue channel that generated 74 percent of its new business in November of 2001.

Credit Acceptance is a financial services company that provides its network of dealer-partners in North America and Europe with financing for consumers who want to buy an automobile, but have limited access to credit, and quickly delivers credit approvals over the Internet.

The portal framework of Oracle9i Application Server enabled Credit Acceptance to develop a ``dealer self-service center'' that allows automobile dealers to process loan applications more efficiently. Prior to this system, dealers took up to an hour to complete customers' credit applications. Using the Oracle9iAS portal technology, sales representatives can analyze and complete applications within minutes after entering relevant customer and financing information.

``With Oracle9iAS Portal, we were able to develop our credit application system quickly, helping our auto dealers provide better customer service immediately,'' said David Simmet, chief information officer for Credit Acceptance. ``We've been impressed with Oracle's strong commitment to customer support and technical innovation.''

Supported by Oracle9i Application Server, the self-service portal created a new revenue channel for Credit Acceptance and increased productivity for its dealer partners. Since implementing Oracle9iAS in July of 2000, Credit Acceptance has steadily increased the amount of new business generated from the portal-based credit application system. Credit Acceptance selected Oracle for its easy-to-use portal, strong customer support, dependable security and application integration features.

With the forms and reports component of Oracle9i Application Server, Credit Acceptance built a Web interface that dealers use to insert, update, delete or query information in the Oracle Database. The feature allows dealers using the portal to quickly update customer information, run reports on a customer's loan history and obtain online status of pending applications.