Dealertrack Technologies, Inc. (Nasdaq: TRAK), a leading provider of vehicle collateral management and electronic lien and title (ELT) services, today announced that Santander Consumer USA will be moving its title administration processing to Dealertrack’s Total Title Solution during 2013.
Headquartered in Dallas, Santander Consumer USA is a leading company in the automotive finance sector, providing a full-spectrum for automotive loans and lending programs on direct and indirect platforms. Santander made the decision to move their vehicle title management to Dealertrack to gain processing efficiencies and improve customer satisfaction.
“Due to the rapid expansion of our consumer automotive platform, we knew that we needed a collateral management partner that we could trust to effectively manage this important part of our business,” said Brad Martin, executive vice president, Servicing, Santander. “This transition will not only best position us for continued growth, but also ensure our borrowers are receiving the highest quality of service possible.”
“Dealertrack is the only collateral management provider that also offers digital contract processing to improve funding efficiencies within the loan origination workflow,” said Kathy Kassinos, vice president and general manager, Collateral Management and Digital Document Services for Dealertrack. “We look forward to expanding our partnership with Santander Consumer and look forward to providing excellence in title administration services to Santander and their borrowers.”Total Title Solution is one of a family of collateral management and digital document services offered by Dealertrack’s Processing Solutions group. Dealertrack’s Total Title Solution is used by thousands of lenders and lessors nationwide to effectively and efficiently manage paper and electronic titles. About Dealertrack Technologies ( www.dealertrack.com ) Dealertrack Technologies’ intuitive and high-value web-based software solutions and services enhance efficiency and profitability for all major segments of the automotive retail industry, including dealers, lenders, OEMs, third-party retailers, agents and aftermarket providers. In addition to the industry’s largest online credit application network, connecting more than 19,000 dealers with more than 1,200 lenders, Dealertrack Technologies delivers the industry’s most comprehensive solution set for automotive retailers, including Dealer Management System (DMS), Inventory, Sales and F&I, Interactive and Registration and Titling solutions. For more information visit www.dealertrack.com. Safe Harbor for Forward-Looking and Cautionary Statements Statements in this press release regarding the benefits of Santander Consumer USA utilizing Dealertrack’s Total Title Solution 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 Technologies to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements.