(June 7 – 15:25 ET) – Scotiabank and TIM Dealer Services Inc. have agreed to provide auto dealers with an Internet-based credit application and approval system. The service can be integrated directly into the dealer’s existing computer system.
“This new service is a win-win for consumers and dealers. Car buyers will benefit from a fast, secure Internet based credit application and on the spot approval, while eliminating the need for dealers to have to duplicate the input of customer data into stand alone computer software or terminals,” said Ron Porter, vice president, automotive finance, Scotiabank.
“This integrated solution allows automotive dealers to submit customer credit applications directly from their F&I (Financial and Insurance) system and avoid the re-entry of data into separate systems,” said Richard MacDonald, president and CEO of TIM. “The F&I system is the heart of an auto dealership, recording everything from customer data to warranty information and vehicle stock numbers.”
“This new integrated online financing solution is designed to meet the needs of both consumers and automotive dealers across Canada. Scotiabank is the number one bank in automotive financing in Canada, and we are committed to developing products and services to continue our leadership role in this industry,” concluded Porter.
-IE Staff