Dealertrack Takes a Leading Role in Vehicle Title Administration for Santander Consumer USA
November 28 2012 - 8:00AM
Business Wire
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.
Factors that might cause such a difference include the adoption
by Santander Consumer USA of the Dealertrack Total Title Solution,
and other risks listed in our reports filed with the Securities and
Exchange Commission (SEC), including our Annual Report on Form 10-K
for the year ending December 31, 2011. These filings can be found
on DealerTrack Technologies’ website at www.dealertrack.com and the
SEC's website at www.sec.gov. Forward-looking statements included
herein speak only as of the date hereof and Dealertrack
Technologies disclaims any obligation to revise or update such
statements to reflect events or circumstances after the date hereof
or to reflect the occurrence of unanticipated events or
circumstances.
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