Automotive Finance

Automotive Finance provides an integrated loan and lease receivables system focused on the automotive finance industry.    Features and functions are managed by rules managed by the business, without programming, enabling clients to quickly react to the ever changing marketplace.   Automotive Finance provides the breadth and depth required to consolidate portfolios, reduce costs and gain considerable processing efficiencies

Automotive Finance supports automotive captives and other financial services organizations with large portfolios of auto loans and leases. Competitive products supported include dealer loans, direct loans, lines of credit, finance leases, operating leases, securitized loan pools and private label lending.

Features

• Real-time – Transactions are processed real-time with effects known to the user immediately
• Backdating – All transactions inquire, maintenance and monetary transactions can be backdated online
• Securitization – Integrated pool selection, tracking and GL reporting
• Private Label Support – Allows lenders to process and service loans under another organization's name
• Search Capabilities – Perform comprehensive vehicle and dealer searches to verify name, address, vehicle identification number (VIN), tax identification, payment amount, past-due amount, historical payment amount, dealer history and dealer reserve
• Automotive Collateral Tracking – Finds vital information about a vehicle beyond make, model and year to include vehicle identification number, color, body style, original and wholesale values, mileage and title status
• Subvention – Supports dealer buy-downs, rate concessions, promotional rate programs and other special financing offers
• Delinquency Management – Automates past-due payments, repossessions, bankruptcies and charge-offs – allowing data input and tracking
• Terminations – Automates end-of-term processing, including voluntary early termination, inspections, fee assessment and collection, and used vehicle accounting for terminated leases and repossessed vehicles
• Dealer Accounting – Tracks dealer reserve (with and without recourse), guarantees, service policies, history, branch and dealer splits, dealer adjustments, charge-backs and dealer electronic funds transfer
• Parameters – Highly configurable features support portfolio consolidation, multi-currency, multi-language and multi-country processing from the same instance.

Benefits

Automotive Finance's functions are tailored to the auto finance industry. Along with specialized consumer lending considerations, integrated leasing support enables clients to standardize processes and control all financial accounting with common practices across the portfolios. 

Automotive Finance strength resides within accounting parameters that enable each individual financial to be tracked independently with its own accrual methods and independent earning and rebate methods. These features enable detailed tracking and reporting of all fees, taxes, earnings, securitized pool performance and can all be managed by the corporate accounting team without programming intervention.

Integration with Automotive Finance is easily obtained and performed real-time through Web Services, JCA Proxies or through FIS’ SOA.   The choice is yours.

Browser Based Interface for Automotive Finance

Automotive Finance is provided through a thin-client, browser based interface. Automotive Finance supports a client’s SOA through integrated Host Side Adapters, processing all transactions real-time.

Thanks to thin-client technology, users can now access the system in a user-friendly environment and eliminate the re-engineering of workstations and redeployment of software. The application also reduces training time and cost.