Curomax Standardizes on Vehicle Data from Chrome Systems
PORTLAND, Ore.--Jan. 1, 20059, 2005--| Consistent vehicle descriptions and used values data mapping to help streamline online loan process |
Chrome Systems Corporation, provider of automotive data, configuration technology and commerce solutions, has announced that Toronto, Canada-based Curomax Limited., a leader in dealer finance e-commerce solutions and the originator of the premier multi-asset finance channel in North America, will leverage Chrome's vehicle descriptions, as well as its mapping tables to used and residual values, in their U.S. automotive finance application. The data integration and values mapping will help lenders using the Curomax system to accurately identify, describe and value collateral, resulting in a faster loan decisioning process.
Curomax users will be able to identify and fully describe a vehicle starting with only a vehicle identification number (VIN) or basic Year/Make/Model (YMM) data. The vehicle information is standardized in a format that enables it to be cross-referenced to industry-leading valuation or residual providers.
"Leveraging Chrome's expertise in automotive data enables us to focus on our core business of improving the finance process for dealers and lenders," said Michael Collins, executive vice-president and COO of Curomax. "Our clients will experience an efficient and streamlined process resulting in larger loan volumes, quickly delivered data, increased automated loan decisions and a more efficient way to manage their business."
Additionally, by standardizing on Chrome's vehicle data, lenders and dealers will benefit from increased consistency in vehicle data throughout the retail automotive channel. Chrome's vehicle data currently powers thousands of applications used by consumers, auto dealers and lenders every day to research, price, order and finance vehicles.
Dealers use Curomax to submit transactions to the lender of their choice, obtain online, real-time credit decisioning, update deal status and produce all necessary contract documentation. In addition, Curomax's industry leading communication platform enables dealers and credit officers to efficiently facilitate deals online that require further information to be completed successfully.
About Chrome
With more than 13,500 clients, including half of all automotive dealers in the U.S. and Canada, Chrome provides vehicle content, software, technology and services to deliver complete enterprise solutions to all segments of the retail automotive industry. These segments include manufacturers, fleet companies, dealers, Internet sites, and financial institutions. Chrome pioneered the technology behind electronic vehicle configuration with the introduction of PC Carbook(R), and since 1986 has collected, analyzed and enhanced "raw" automotive data from all manufacturers.
About Curomax
Curomax and its industry leading on-line finance platform connects dealers across North America to provide access to financial institutions and other aftermarket suppliers through a single application over the Internet. Lenders originating business through Curomax are dramatically improving their operational efficiencies, reducing their business costs and improving their product offerings to dealers across the United States and Canada.
More than 6,500 automotive, recreational vehicle, marine, power sport and home improvement retailers are secure in the knowledge that the loan or lease structuring information provided through Curomax is precise and designed to maximize rapid response from the selected lender. For additional information about Curomax, visit the company's Web site at www.curomax.com.