Onyx Acceptance To Bring Loan Servicing And Collections In House
23 February 2000
Onyx Acceptance Corporation To Bring Loan Servicing And Collections In House, Using Daybreak--The Big Picture
EDEN PRAIRIE, Minn.--Feb. 22, 2000--System Will Coordinate 400 Users Managing Over 200,000 Accounts
SuperSolutions Corporation announced today that it has signed a contract to install Daybreak - The Big Picture(TM), its loan portfolio management software, for Onyx Acceptance Corporation , a major national provider of prime and near-prime automobile financing. In migrating to Daybreak, Onyx will move from its current service bureau relationship and transfer systems processing to a more flexible in-house platform.
Onyx, which purchases consumer auto contracts from franchised and select independent dealers nationwide, will use the client/server version of Daybreak 5.0 to enhance the servicing and collections functions of 400 employees managing over 200,000 accounts.
"Installing Daybreak will be an important technology upgrade for Onyx. It will speed up our loan processing and provide us increased flexibility," says Todd A. Pierson, Senior Vice President and Chief Information Officer for Onyx.
Daybreak 5.0 is an end-to-end relational database management system for consumer lending, including automobile, recreational vehicles, boats, motorcycles, home improvement, line of credit and specialty finance requests. The application is built on Oracle(R) Relational Database Management Systems, offering scalable, user-configurable environments with Open Database Connectivity (ODBC) solutions. It is available in Web-enabled and client/server versions.
Specifically, Daybreak can help Onyx:
| -- | Monitor and maintain payment information and other account activities; |
| -- | Monitor delinquent accounts and notify personnel when follow-up is required; and |
| -- | Track costs of repossession and asset recovery |
"Onyx is a leader in the prime and near-prime auto lending arena, so this agreement is strategically important for us," says Darshan Karki, president and CEO of SuperSolutions. "By using Daybreak, Onyx should experience increased productivity and reduced costs for a core business process, which will provide Onyx a further edge over its competitors."
About Onyx Acceptance Corporation
Onyx Acceptance Corporation is a specialized automobile finance company based in Foothill Ranch, Calif. Onyx provides prime and near-prime financing to franchised and select independent dealers in major markets throughout the United States. Visit Onyx Acceptance Corporation on the Web at www.onyxco.com.
About SuperSolutions Corporation
Based in Eden Prairie, Minn., SuperSolutions develops enterprise-wide software applications for both the Internet and traditional platforms. Its flagship product, Daybreak - The Big Picture(TM), is designed for lenders providing consumer and commercial loans. Daybreak - The Big Picture automates the lending process, including loan origination, servicing, collection and securitization, in a client-server and Internet-based environment. For more information, visit the company on the Web at www.supersolution.com, e-mail at sales@supersolution.com or call toll-free 1-800-320-2125.
SuperSolutions and "Daybreak - The Big Picture" are trademarks of SuperSolutions Corporation.