Provenir Platform Powers Over 10 Million Automobile Loan Applications for AmeriCredit
Loan decision times reduced by 35% with the Provenir Platform
July 31, 2007
(Parsippany, New Jersey, USA) - Provenir, a leading provider of enterprise software for managing the total customer credit lifecycle, today announced that AmeriCredit Corp., a leading independent automobile finance company, has recently processed its 10 millionth automobile loan application with the Provenir Platform.
With the Platform's ability to support multiple communication channels, AmeriCredit has increased its loan application sources from 3 to 16 over the last 18 months. AmeriCredit further increased its ROI by reducing the processing time for loan decisions by 35% and maintaining a 99.7% average system availability without any additional hardware or software.
AmeriCredit uses the Provenir Platform to process thousands of credit transactions per day for auto lending originations. The Provenir Platform provides integration with multiple external systems and data sources including DealerTrack, Equifax, TransUnion, Experian, NADA, and BlackBook. Recently, AmeriCredit used the Platform to add three new channels and to support expansion into a full spectrum of auto lending from its traditional subprime niche.
"The Provenir Platform enables us to combine consumer credit bureau data with loan application and loan structure information for automatic decisioning of the majority of the applications we receive," said Bill Turner, AmeriCredit Vice President, IT - Business Systems. "By configuring predefined thresholds for our custom credit risk score, we can automatically approve applications and route pricing and other details back to the dealer very quickly. "
The Provenir Platform is uniquely positioned to enable lenders to quickly configure an auto finance lending solution that provides complete end-to-end application processing for direct and indirect loan and leasing operations - all on a single platform. The Provenir Platform can handle the entire auto lending process including data validation, vehicle valuations, credit data retrieval, scoring, fraud prevention, funding and collection and recovery management.
About Provenir
Provenir is a leading provider of enterprise software for managing the customer lifecycle. Founded in 1992, the company's historical focus on solutions for the financial industry has led to successful implementations at major banks and credit institutions. This proven ability to handle key financial data and processes is now enabling companies in other industries to make use of the Provenir Platform to manage their customer lifecycle interactions.
Companies use Provenir software to create customized systems from a common architecture, letting IT and business collaborate to maximize profitability of operations that impact financial performance. Business applications of Provenir technology include originations, prospecting, account management, collections and recovery, customer service, security, and compliance.
Provenir is privately held, with headquarters in Parsippany, New Jersey. Customers in the United Kingdom and continental Europe are served from offices in London. Asia/Pacific operations are headquartered in Hong Kong. Information about Provenir, the Provenir Platform, and professional services are available on the company's website at www.provenir.com.
About AmeriCredit
AmeriCredit Corp. is a leading independent automobile finance company that provides financing solutions indirectly through auto dealers and directly to consumers in the United States and Canada. AmeriCredit has over one million customers and approximately $15 billion in managed auto receivables. The Company was founded in 1992 and is headquartered in Fort Worth, Texas. For more information, visit www.americredit.com.
< Back to main news page
|