Curomax

Curomax

June 29, 2005 09:01 ET

Curomax's Internet-Based Loan Origination Platform Enhances Bank of the West's RV and Marine Lending Capabilities; Platform Connects Lenders Directly with Bank of the West

TORONTO--(CCNMatthews - Jun 29, 2005) -

Curomax Limited, a leader in dealer finance e-commerce solutions and the originator of the premier multi-asset finance portal in North America, announced an agreement with San Francisco-based Bank of the West to enhance the bank's United States marine and recreational vehicle (RV) lending capabilities. Bank of the West, with assets of $41 billion, is one of the largest RV and marine lenders in the United States.

When the service becomes available to Bank of the West clients early in the third quarter of this year, it will automate the process of financing an RV or marine product, enabling dealers to submit consumer loan applications electronically and improve their ability to track the status of individual deals.

"Bank of the West has invested significantly in its Dealer Lending Services and in particular its focus on recreation and marine dealer needs across the United States," said John Wojcik, executive vice president of Bank of the West. "Curomax has done its research and has arrived in the U.S. RV and marine markets with a loan origination channel that we believe will fundamentally change how recreation and marine dealers interact with lenders in America. We believe that working with Curomax will help us facilitate that change."

Dealers use Curomax to submit transactions to the lender of their choice, obtain on-line, real-time credit decisioning, update deal status and produce all necessary lender contract documentation. Additionally, through the use of its industry leading communication platform, Curomax efficiently facilitates deals with dealers and credit officers that require further information to be completed successfully.

"Curomax has set very high expectations for itself in delivering the premier loan origination solution for recreation and marine dealers in North America," said Alan Bird, president and CEO of Curomax. "In order to deliver on that promise, we must provide a choice of the very best lenders in the marketplace. Adding Bank of the West to our application delivers on that commitment. The confidence Bank of the West has shown in us is gratifying and we look forward to supporting them in the execution of its dealer lending strategies on-line."

About Bank of the West

Founded in 1874, in San Jose, Calif. as Farmers National Gold Bank, $41 billion-asset Bank of the West is the fourth largest commercial bank based in the Western U.S.

Bank of the West offers a full range of personal, business, international and trust services in addition to its national consumer finance business. It currently operates 480 banking locations in 16 Western and Midwestern states.

About Curomax

Curomax and its industry leading on-line finance portal links dealers across North America to provide access to financial institutions and other aftermarket suppliers through a single application over the Internet. Lenders originating business through Curomax are dramatically improving their operational efficiencies, reducing their business costs and improving their product offerings to dealers across the United States and Canada.

More than 6,500 automotive, recreational, marine, power sport and home improvement retailers are secure in the knowledge that the loan or lease structuring information provided through Curomax is precise and designed to maximize rapid response from the selected lender. For additional information about Curomax, visit the company's Web site at www.curomax.com.

Contact Information

  • Media Contact for Curomax, Toronto
    Cristi Nicholson, 678-935-7135
    or
    Eric Ware, 678-781-7229
    or
    Curomax
    Debbie Oberender, 770-889-6524
    debbie.oberender@curomax.com