This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

FIS Gets Motor Funding Services Rolling With Comprehensive Back Office Services

The No.1 technology provider to the automotive finance industry, FIS™ (NYSE: FIS), the world’s largest provider of banking and payments technology, announced today that it will deliver complete back office services to Motor Funding Services, LLC, a new auto finance company.

FIS will provide comprehensive BPO and processing services – from loan origination and back office servicing to call center and collection services – as well as IT support to Motor Funding Services through its AutoSuite Virtual Back Office solution. A fully customizable solution, AutoSuite Virtual Back Office gives Motor Funding Services a cost-effective way to maintain focus on serving clients and rapidly building its innovative business.

“2014 new auto sales are forecasted to exceed 16 million cars for the first time since 2007,” said Craig Focardi, research director, CEB TowerGroup. “Lenders will originate an estimated 11.4 million new auto loans to finance these sales.”

“With auto sales and finance volumes growing, more and more lenders are looking to outsource their back office needs in order to focus their efforts on growing business and better controlling their operational costs,” said Anthony Jabbour, EVP, North American Financial Institutions, FIS. “As Motor Funding Services works to build its business nationwide, it required an end-to-end back office solution with the flexibility to meet its business expansion needs. FIS’ proven BPO expertise, coupled with our deep knowledge of the automotive finance industry, made the difference as we were able to demonstrate strength and adaptability.”

“As a start-up and entrepreneurially driven venture, we needed comprehensive support that took into account our unique needs,” said Doug McAllister, Founder, Motor Funding Services. “FIS demonstrated its ability to understand those needs and work with us as we make Motor Funding Services a success.”

Motor Funding Services provides high-end vehicle leases through automotive dealer groups nationwide. Its business model produces a new revenue stream to the dealers from existing business they already generate as profits are being squeezed through multiple channels. The company brings a unique offering through a highly engineered structure in conjunction with best of breed service providers.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs