Building on an existing partnership, Dealertrack Technologies, Inc. (Nasdaq: TRAK), today announced that Regional Acceptance Corporation has successfully moved its title administration processing to Dealertrack’s Total Title Solution.
Regional Acceptance, headquartered in Greenville, North Carolina, and an affiliate of BB&T (NYSE: BBT), is a leading auto finance company committed to delivering quality automotive financing solutions to both their dealers and customers. In addition to Total Title Solution, the company uses Dealertrack’s Credit Application and Digital Document Services in their operations.
“We use Dealertrack’s proven services to achieve scalability that is critical to effective and efficient business management,” said Will Sargent, vice president, Operations, Regional Acceptance. “It is a practical business decision for us to expand our Dealertrack utilization to include the management of our paper and electronic titling needs. This will allow us to better control expenses and enhance customer service.”
“Dealertrack and Regional Acceptance have created a strong partnership over time. By including vehicle title management, Regional Acceptance can further improve efficiencies throughout its loan origination and back-office processing,” said Kathy Kassinos, vice president and general manager, Collateral Management and Digital Document Services for Dealertrack. “Dealertrack is a partner that automotive financing companies, like Regional Acceptance, can work with to deliver efficiencies throughout their operations and continuously meet their ever-changing business needs.”
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 Regional Acceptance Corporation
Greenville, N.C-based Regional Acceptance Corporation specializes in indirect sub-prime automotive financing and prime to near prime portfolio acquisitions. An affiliate of BB&T Corporation, Regional Acceptance Corporation has 27 regional business centers and three customer service centers supporting dealers and customers in 32 states. The company offers many dealer lending programs tailored to state guidelines and dealers’ specific needs. More information about the company is available at www.regionalacceptance.com.
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 Regional Acceptance Corporation utilizing Dealertrack’s Total Title Solution and 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 Regional Acceptance Corporation 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.