SOURCE: NetFinance Solutions

NetFinance Solutions

December 08, 2010 13:34 ET

CreditSmarts and NetFinance Solutions Announce Partnership, Technology Integration

LONG BEACH, CA--(Marketwire - December 8, 2010) - CreditSmarts.com and NetFinance Solutions, Inc. have entered a strategic partnership and integrated their technologies to create the first purely web-based, complete end-to-end lending solution for auto dealers and lenders. The integration will leverage CreditSmarts' proven technology in dealer-to-lender interaction and NetFinance Solutions' intelligent loan servicing platform, providing a seamless workflow for the entire lifecycle of a loan.

"CreditSmarts' web technology, along with its network of dealers and lenders, are uniquely suited to this partnership," said Mark Gleason, president of NetFinance Solutions. "In addition to the obvious ROI benefits of operating an end-to-end lending environment completely on the Web, the standardization of data between the two platforms allows us to extend the reach of our NFS Advanced Analytics. It's now possible to easily correlate characteristics of loans at origination time with what happens over the servicing life of the loan, which can then be used to optimize underwriting."

CreditSmarts automates the front end of the auto loan origination process, connecting dealers to lenders to obtain financing and providing advanced loan origination capabilities, including automated underwriting. NetFinance Solutions automates the back end of the loan lifecycle with its NFS Intelligent Lender Platform that includes servicing, collections, document management, and analytics. Loans sourced and originated on CreditSmarts.com can move directly onto the NetFinance Solutions servicing platform, via the Web and without any manual steps or re-entry of data, guaranteeing that nothing gets lost in translation.

"We've long wanted to be able to offer a loan servicing solution that matched the capabilities of the CreditSmarts platform," said Sean Ryan, CEO of CreditSmarts. "NetFinance Solutions is the first SaaS servicing platform that's truly built on Web standards, so it's a perfect fit for CreditSmarts and our customers." 

Both companies' solutions are purely web-based and are delivered via a Software as a Service (SaaS) model, operating completely inside a web browser. The SaaS model means that startup costs are very low, startup timeframes are short, and customers don't need to buy any hardware or installed software. The technical integration between the two platforms is accomplished using open, standard Web services, including XML, SOAP, and Java.

The integration layer was jointly developed by both companies and is available immediately.

Contact Information

  • Media Contacts:
    NetFinance Solutions:
    Holly Ferris
    Email Contact
    (562) 429-6456

    CreditSmarts:
    Sean Ryan
    Email Contact
    (888) 345-0918