PHILADELPHIA -- VINtek, a provider of automotive collateral management services for automotive finance lenders, announced the launch of TitleMyCar.com, a direct-to-consumer auto loan documentation portal. TitleMyCar.com is used by direct auto lenders in conjunction with virtual lien perfection services also provided by VINtek (www.vintek.com).
TitleMyCar.com users can review and execute documents for auto loans and initiate funding utilizing a paper-based or electronic signature process, making for faster closing and funding of their auto loans. Electronic signature and eContracting capabilities are provided through the portal by Baltimore-based eOriginal Inc.
Electronically signed loan documents are retained in a vault maintained on behalf of the lender by eOriginal. The document is a legal, tamper-proof eContract that eliminates the need for paper processing and retention by the lender. TitleMyCar.com complements VINtek's suite of products that includes paperless titles for automotive collateral; VINtekTIME, a Web-based application that incorporates document imaging and other paperless processes for managing lien or title inventory; VINaudit, an automated VIN decoding system; and AUTOval, used vehicle valuation technology, said the company.
"Our combined software as a service delivery model transfers information from VINtek to eOriginal in real-time as consumers are conducting business on the TitleMyCar.com Web site," said Jack Stose, vice president of eOriginal. "By leveraging the respective skills and investments of VINtek and eOriginal, VINtek was able to create a portal that is simple to use yet sophisticated enough to meet the demands of the automotive finance lender community. The product's design provides rapid deployment and reduced IT resource requirements by lenders."
--cburger@cutimes.com
