Tyler Technologies Launches Electronic Lien and Title Service for the State of New Jersey
June 18 2024 - 8:17AM
Business Wire
New implementation makes New Jersey the third
state to offer electronic liens and titling to residents and
businesses
Tyler Technologies, Inc. (NYSE: TYL), in partnership with Champ
Titles, Inc. and the New Jersey Motor Vehicle Commission, has
launched a new electronic lien and title service for vehicle
titling.
Driven by recently passed legislation, the Motor Vehicle
Commission was tasked with implementing a solution that allows
electronic submission of required forms and fees. The legislation
not only requires the New Jersey Motor Vehicle Commission to
implement an electronic lien and title service but also mandates
that all lienholders in New Jersey participate in this new
electronic program, unless they are otherwise exempt. The new
system, whose formal pilot launched in January, allows lienholders
financing vehicles in New Jersey to communicate in real time with
the New Jersey Motor Vehicle Commission and eliminates the need for
those lienholders to hold, manage, and ship secure paper
titles.
Tyler and Champ have created a seamless vehicle titling and
registration and lien management system that benefits stakeholders
including vehicle retailers, lenders, insurance carriers, and
residents. Launched in West Virginia in 2021 and in Kentucky
earlier this year, New Jersey is the third state to implement the
solution.
“We are excited to be launching the first phase of modernizing
the technology used in New Jersey, starting with the electronic
liens and titling service, and to begin seeing the similar impact
for our drivers,” said Angela LaBelle, deputy chief administrator
for the New Jersey Motor Vehicle Commission. “We expect to launch
our planned second phase, eTitling for New Jersey vehicle
retailers, in the near future.”
Key benefits of the new electronic lien and title service
include, but are not limited to:
- Reduced costs. Electronic processing eliminates outdated
and lengthy paper processes, saving time and money for retailers,
lenders, drivers, and department staff.
- Improved efficiency. The system significantly reduces
processing times, maximizing agency resources and drastically
increasing the number of transactions processed by a single
clerk.
- Reduction of fraud risk. Digital processes eliminate the
latency of paper-based processes, reducing many opportunities for
fraud. Additionally, these digitized processes make document
manipulation more difficult and help to eliminate risk.
- Decreased environmental impact. Transitioning to a
paperless process is expected to eliminate the use of more than 20
million pieces of paper each year in the state of New Jersey. In
addition, as the titling and registration process becomes fully
digital, commutes to and from county clerk offices will also
decrease, providing additional environmental benefits.
Statewide digital titling in West Virginia has eliminated more
than five million pieces of paper annually, reduced processing time
from as much as 60 days to as little as one day, and eliminated
department backlog with title clerks, now processing five times as
many titles each day. Given the size and scale of New Jersey, it is
expected that the system will generate even more benefits for the
New Jersey Motor Vehicle Commission, residents and buyers of
vehicles, and businesses that sell, finance, and insure vehicles
across the state.
“We are proud to partner with the Motor Vehicle Commission as
they work to bring innovative technology and digital services to
New Jersey motorists and businesses,” said Michael LeBlanc, general
manager for Tyler’s New Jersey-based team. “The benefits have been
impactful in other states, and we are excited for the opportunity
to bring those benefits to the residents and businesses of New
Jersey.”
About Tyler Technologies,
Inc.
Tyler Technologies (NYSE: TYL) is a leading provider of
integrated software and technology services for the public sector.
Tyler’s end-to-end solutions empower local, state, and federal
government entities to operate efficiently and transparently with
residents and each other. By connecting data and processes across
disparate systems, Tyler’s solutions transform how clients turn
actionable insights into opportunities and solutions for their
communities. Tyler has more than 44,000 successful installations
across 13,000 locations, with clients in all 50 states, Canada, the
Caribbean, Australia, and other international locations. Tyler has
been recognized numerous times for growth and innovation, including
on Government Technology’s GovTech 100 list. More information about
Tyler Technologies, an S&P 500 company headquartered in Plano,
Texas, can be found at tylertech.com.
About Champ Titles, Inc.
Champ Titles builds technology for government to solve the
problems their constituents have with title and registration. Those
constituents include vehicle retailers, vehicle wholesalers,
insurance carriers, fleet operators, all of the service providers
that serve each of these industry verticals, and consumers. Founded
in 2018, Champ replaces state DMV title and registration systems
with its intuitive software and enables the constituents of
government to reduce the amount of time it takes to create, manage,
and transfer a vehicle title and registration. To learn more about
Champ, please visit www.champtitles.com.
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Jennifer Kepler Tyler Technologies 972.713.3770
Media.team@tylertech.com
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