North America’s largest captive lender, with a portfolio of over $50 billion in auto loans, had an opportunity to provide loan origination and servicing for a smaller private-label original equipment manufacturer (OEM) lender. They turned to defi SOLUTIONS to meet a tight transition deadline.
| Case Study Snapshot | |
|---|---|
| Client | North America’s largest captive lender |
| Industry | Automotive |
| Products/Services | Loan origination and servicing solutions |
| Results | defi SOLUTIONS worked with the captive lender to deploy loan origination and servicing software for the private-label OEM to meet a tight deadline |
The Problem: The Captive Lender’s Time Crunch
Timing is a challenging aspect of such an arrangement. Typically, the larger lender must meet tight deadlines to provide services to the private-label OEM’s customers.
Upon signing an agreement, the larger lender must select a loan origination and servicing vendor, implement a system, staff quickly, and provide uninterrupted services to the OEM’s customers.
In this case, the private-label OEM’s previous loan provider planned to discontinue services within months, so everything had to be in place by then.
Yet, implementing a new lending platform isn’t simple. Despite the best efforts to define needs and stay the course, things come up. The business evolves, and requirements change.
The Solution: Defi SOLUTIONS Steps In
defi SOLUTIONS was able to step in and provide a comprehensive lending solution under this tight deadline. defi was uniquely able to provide solutions for this lender—from digital client engagement through originations, servicing, loan and lease resolution, and vehicle disposition.
Our solutions include a full suite of loan products and services, including our defi ORIGINATIONS platform, defi SERVICING loan management system, defi CONNECT SERVICING digital borrower portal, and back-office processes. We provided full titles, cash management, toll violations, and support for collections, recoveries, and remarketing delivered through our managed servicing center in Amherst, New York.
From concept to completion, our teams united to quickly deliver a platform unprecedented in breadth, quality, scalability, and cost-effectiveness. In only seven months, the entire product and service suite was configured and implemented to fit the specific needs and unique specifications of the private-label OEM.
Getting Started
defi SOLUTIONS is redefining loan origination with software solutions and services that enable lenders to automate, streamline, and deliver on their complete end-to-end lending lifecycle. Borrowers want a quick turnaround on their loan applications, and lenders want quick decisions that satisfy borrowers and hold up under scrutiny. With defi ORIGINATIONS, lenders can increase revenue and productivity through automation, configuration, and integrations and incorporate data and services that meet unique needs. For more information on thriving through this auto loan recession and how defi can help, Contact our team today and learn how our cloud-based loan origination products can transform your business through an economic downturn.
