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VINtek Launches Online Platform Offering eContracting forDirect-To-Consumer Auto Loans

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PHILADELPHIA--VINtek, a provider of automotive collateral management services for banks, credit unions and other automotive finance lenders, announced the launch of, a direct-to-consumer (D2C) auto loan documentation portal. is used by direct auto lenders in conjunction with virtual lien perfection services provided by VINtek.

Consumers directed to can review and execute their documents for auto loans and initiate funding utilizing a paper-based or electronic signature process. Benefits to consumers include faster closing and funding of their auto loans and reduced paperwork and effort to close the transactions.

Electronic signature and eContracting capabilities are provided through the portal by Baltimore-based eOriginal, Inc., an expert in the field of electronic signature legal compliance for eContracts, leases and other forms of transferable assets.

If consumers choose to electronically sign their loan documents, they are retained in an electronic vault maintained on behalf of the lender by eOriginal. The document is a legal, tamper-proof eContract that eliminates the need for any physical paper processing and retention by the lender. complements VINteks suite of products that includes paperless titles for automotive collateral; VINtekTIME, a Web-based application which incorporates document imaging and other paperless processes for managing lien or title inventory; VINaudit, an automated VIN decoding system; and AUTOval, used vehicle valuation technology.

Our combined Software as a Service (SaaS) delivery model transfers information from VINtek to eOriginal in real-time as consumers are conducting business on the Web site, said Jack Stose, vice president of eOriginal. By leveraging the respective skills and investments of VINtek and eOriginal, VINtek was able to create a portal that is simple to use yet sophisticated enough to meet the demands of the automotive finance lender community. The products design provides rapid deployment and reduced IT resource requirements by lenders.

The eSignature and eContract capabilities of the process, paired with the collateral management services traditionally provided by VINtek, reduce the time and effort required on the part of the consumer and the lender to close the auto loan, said Larry Highbloom, president of VINtek. Consumers are able to receive funding faster and lenders are able to reach an expanded market of borrowers through the D2C channel and reduce the cost of closing individual loans by moving them to an electronic format.

About eOriginal

eOriginal, Inc,s advanced electronic vaulting solutions enable auto finance sources and investors to eliminate paper while legally protecting their assets as electronic contracts are managed and transitioned throughout their lifecycle. eOriginal eCore® technology and processes create electronic finance documents that are tamper-evident, auditable and legally enforceable, admissible and negotiable. eOriginal solutions are compliant with ESIGN, UETA and UCC Revised Article 9-105. eOriginal® technology has managed approximately 500,000 electronic contracts representing more than $10 billion in originations, with more than $2 billion pooled and securitized. For more information, visit

About VINtek

Founded in 1990, Philadelphia-based VINtek provides automotive collateral management services and business process outsourcing for banks, credit unions and other auto finance institutions using paper or electronic titles. A provider of Electronic Lien and Title (ELT) technology, VINtek helps lenders increase efficiency, decrease costs associated with account management and reduce errors and exceptions on titles and liens through automation. For more information, visit