As several states make the transition away from paper vehicletitles to electronic lien and titles, at least one firm said it isexperiencing the impact.

VINtek, a provider of collateral management and ELT servicesand direct finance processing for auto lenders, said it experienceda 28% increase in new customer signings in 2012. The new clientsrepresent an estimated 30% increase in recurring revenue overclient sales in 2011, the Philadelphia-based firm reported.

Florida and Georgia's ELT compliance deadline went into effectJan. 1. There are 18 states that have implemented ELT, according toVINtek President Larry Highbloom.

VINtek said in anticipation of the impact of Georgia legislationrequiring lienholder participation in the Georgia Department ofRevenue's ELT program in 2013, the company signed eight creditunions in the state. VINtek said it also experienced significantclient growth in Florida with that state's electronic move.

According to the Florida Department of Highway Safety and MotorVehicles, lenders must contract with an approved service providerfor the ELT transition. Among them are VINtek, American SecurityInsurance Co. in Duluth, Ga.; Auto Data Direct Inc. in Tallahassee,Fla.; Decision Dynamics Inc. in Lexington, S.C.; FDI in Sacramento,Calif.; and PDP Group Inc. in Hunt Valley, Md.

In 2012, VINtek said its ELT services were endorsed by theLeague of Southeastern Credit Unions and the Credit Union Association of the Dakotas.