MB Financial Bank Selects DealerTrack Specialty Solutions Network to Facilitate Internet-based Loan Originations
- The DealerTrack Specialty Solutions Group Network (formerly Curomax) multi-asset finance application will assist MB Financial Bank clients -
LAKE SUCCESS, N.Y., Oct. 23 -- DealerTrack Holdings Inc., today announced that Chicago-based MB Financial Bank, N.A. , a provider of customer-driven financial solutions to privately-held, middle-market businesses as well as to small businesses and individuals who work and live in the communities they serve, has signed an agreement to participate on DealerTrack's online specialty finance platform for motorcycle dealer clients in the United States. DealerTrack is a leading provider of on-demand software and data solutions for the automotive and specialty retail industries.
Once implemented, this agreement will enable motorcycle dealers nationwide to use the DealerTrack Specialty Solutions platform to submit consumer loan applications electronically as well as complete the loan contract with MB financial bank through our internet-based network.
"MB Financial Bank recognizes that our national motorcycle dealer base desires alternative processing options that add quality and value to their business. We believe our partnership with DealerTrack Specialty Solutions Group (formerly Curomax), provides dealers additional value and options while still granting access to our tailored high touch customer service that they also desire," said Steve Towne, senior vice president of MB Financial Bank. "This partnership lets MB expand our offerings from our full service Motorcycle Indirect Lending and Dealer Banking Group."
"The addition of MB Financial Bank to our platform provides a more efficient way for MB Financial Bank to serve motorcycle dealers," said Patrick Staudt, vice president of DealerTrack Specialty Solutions Group. ""We are an organization that listens to our customers, and adding MB Financial to our community helps address dealers' requests for more finance alternatives."
About DealerTrack
DealerTrack is a leading provider of on-demand software and data solutions for the U.S. automotive retail industry. Our solutions enable dealers to receive consumer leads, submit credit applications, compare financing and leasing options, sell insurance, vehicle accessories and other aftermarket products, document compliance, and execute financing contracts electronically. In addition, the company provides dealer management systems (DMS) through its Arkona, Inc., subsidiary. Over 22,000 dealers, more than 425 financing sources, and many other service and information providers are active in the DealerTrack network. For more information, visit www.dealertrack.com.
About Curomax
Curomax Limited is a wholly owned subsidiary of DealerTrack Holdings, Inc. , a leading provider of on-demand software and data solutions for the U.S. automotive, recreational vehicle, marine, and motorcycle industry. The company's online credit application processing product automates and accelerates the financing process, while its integrated subscription-based software enables dealers to receive consumer leads, compare financing and leasing options, sell insurance and other aftermarket products, document compliance, and execute financing contracts electronically. Over 3,000 dealers use the Curomax channel.
About MB Financial
MB Financial Bank is a locally-operated financial institution that has been delivering competitive personalized service for almost 100 years to businesses and individuals who live and work in the Chicago metropolitan area. MB Financial Bank has locations throughout the Chicagoland area.
MB Financial Bank is the Illinois local operating unit of MB Financial, Inc., a financial services holding company which is traded on the NASDAQ as "MBFI." MB Financial, based in Chicago, has approximately $8 billion in assets. Information about MB Financial can be found at www.mbfinancial.com
Safe Harbor for Forward-Looking and Cautionary Statements
Statements in this press release regarding DealerTrack, Curomax Limited, benefits of the Curomax platform, their growth prospects, plans regarding new products or services, and all other statements in this release other than the recitation of historical facts are forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995). These statements involve a number of risks, uncertainties and other factors that could cause actual results, performance or achievements of DealerTrack Holdings, Inc. to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements.
Factors that might cause such a difference include: the ability to retain our customer base, the ability implement MB Financial Bank, N.A. as a lender, additional risks associated with international operations, and other risks listed in the DealerTrack's reports filed with the SEC, including the 2006 Form 10-K. These filings can be found on DealerTrack's website at www.dealertrack.com and the SEC's website at www.sec.gov. Forward-looking statements included herein speak only as of the date hereof and we disclaim any obligation to revise or update such statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events or circumstances.