PHILADELPHIA--July 30, 2012: VINtek, a provider of automotive collateral management, electronic lien and title (ELT) services and direct finance processing for automotive lenders, announced that United Services Automobile Association (USAA) has moved the management of its automotive collateral portfolio to the company.
“We selected VINtek as our new title management provider”
USAA, with more than $104 billion in assets and nine million members, provides financial services to members of the military, veterans and their families. The organization transitioned its portfolio of automotive collateral of more than one million consumer accounts to VINtek in order to streamline its paper-based and paperless title management through the VINtekTIME platform and provide superior service to its members.
"We selected VINtek as our new title management provider," said Timothy Booker, vice president of fulfillment for USAA. "Due to the worldwide nature of our business and the unique challenges our members face each day, it is vital that our collateral management provider deliver high quality service and also understand the nuances of serving members of the military."
"VINtek's full range of collateral management solutions for paperless and paper-based titles is ideal for USAA's business," said Larry Highbloom, president of VINtek. "We look forward to providing USAA and its members a robust worldwide customer service platform for automotive collateral management and we are truly honored to have the opportunity to serve those who serve or have served our county."
In its 22nd 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 three U.S. patents on automotive lien processes and is the recipient of numerous industry awards for its processing services. For more information, visit Vintek.