VINtek is a subsidiary of Dealertrack that assists institutions with effective vehicle collateral management through electronic lien and title processing, as well as paper title management. The VINtek connector facilitates establishing a secure connection between VINtek and the Akcelerant Framework to provide institutions with a seamless method of transmitting vehicle vendor and collateral information in the Framework directly to VINtek for processing.
About VINtek
Dealertrack is the leading end-to-end technology solution provider in the automotive retail industry. In addition to being the nation’s largest online credit application network, Dealertrack offers lenders and dealers comprehensive Inventory, Sales, F and I and Compliance solutions, as well as electronic motor vehicle registration and titling applications, paper title storage, and digital document.
For more information, visit www.Dealertrack.com.
VINtek in the Workplace
Manual Submission of Collateral Records
Bud enters Rhoades Financial with the hope of getting a loan to purchase a used automobile. He is greeted by Kelly, a loan officer, who takes him back to the customer service area. Bud informs Kelly that he is interested in purchasing a 2010 Honda Accord from his neighbor and wants to apply for a loan. Kelly tells Bud she is happy to process that request for him and takes him to the service center.
Kelly logs in to the Framework and creates a new loan application. Once all of the applicant data has been identified, she sets the loan terms and proceeds to the Application screen containing a Collateral-Vehicle panel, where she adds a new Loan Collateral.
Kelly enters the information for the vehicle collateral within the Collateral panel and clicks 
to process the vehicle title using the VINtek connector. After 
is selected, the Is VINtek Requested field updates to true within the panel.
Kelly submits the application to Underwriting where the application is approved. She reviews the decision with Bud and proceeds with the remaining Approval screens to fund and disburse the loan. Once the batch process executes that evening, VINtek receives the file containing the collateral information to process the title registration.
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For more information about configuring and using this connector in the Framework, please see the VINtek Connector Guide. |