Program Coordination Ramps-up Auto Loan Processing Efficiency
van Wagenen Financial Services joins the Symitar Vendor Integration Program
August 28, 2013 (Newswire.com) - van Wagenen Financial Services is pleased to announce participation in the Symitar™ Vendor Integration Program. This will directly benefit lenders managing auto loans on the Symitar core processing system by increasing the efficiency of auto loan payment adjustments. The integration coordinates insurance placement and core system technologies to enable automated recalculation of borrower payments on accounts requiring lender placed insurance policies.
"Any opportunity to increase efficiency is a benefit to our lender clients," says van Wagenen Vice President of Sales, Auto Finance; Jeff Anderson. "Automating the recalculation process eases the resource burden and minimizes opportunity for error in adjustments." Anderson and his team work with a broad range of auto finance companies from buy here pay here dealers all the way to the captive finance companies.
Already van Wagenen is the world's largest tracker of auto loan insurance. The automated recalculation capability adds further value to any lender utilizing the Symitar core processing system. When tracking reveals an insurance deficiency which remains uncured and a lender-placed policy becomes necessary, the payment recalculation step is tied conveniently into the processing system.
The Symitar Vendor Integration Program announcement comes on the heels of several, auto finance focused product introductions for van Wagenen. Randall Rempp, van Wagenen Vice President and General Manager, notes; "The auto market is core to our business model. We are moving swiftly to increase offerings and build a portfolio as an all around provider for our clients."
Symitar, a division of Jack Henry & Associates, Inc. (Nasdaq: JKHY), is the leading provider of integrated computer systems for credit unions of all sizes. Symitar currently serves more than 700 credit unions as a single source for integrated, enterprise-wide automation and as a single point of contact and support.