SOURCE: ChannelNet

ChannelNet

March 30, 2011 09:00 ET

Hyundai Capital America Selects ChannelNet to Power Strategic Internet Initiatives

Auto Finance Company Chooses ChannelNet to Streamline Dealer and Customer Interaction Online

SAUSALITO, CA--(Marketwire - March 30, 2011) - ChannelNet, a leader in multichannel channel and customer engagement, today announces that Hyundai Capital America has selected ChannelNet to deliver two strategic Internet initiatives for Hyundai and Kia dealers and customers. The agreement will support the finance company's growth plans and enable more streamlined communication online for their dealers and customers.

J.D. Power and Associates 2010 U.S. Dealer Financing Satisfaction Study(SM) finds that dealer satisfaction is reliant on improving speed and flexibility of approval and funding. Automotive lenders with a highly satisfied dealer network will book a higher portion of applications they review -- 55 percent, compared with 25 percent among dealers with low satisfaction. The study finds that lenders delivering higher satisfaction are spending less on processing new loans and experience higher returns. Effective online interactions are now the foundation to building and sustaining dealer and vehicle owner relationships.

"ChannelNet has deep experience in the automotive financial services industry in providing both dealers and vehicle owners with self service capabilities," according to Paula Tompkins, ChannelNet CEO and Founder. "As a leader in user-centered design, we approached this assignment by asking two questions. How can we make it easier for dealers to sell and finance more Hyundai and Kia vehicles by providing online tools and systems? And, how can we build loyalty with existing owners that finance through Hyundai Capital of America to ensure they purchase their next vehicle from Hyundai or Kia when their contract ends. As it turned out, the answer is to provide the relevant information they need to conduct business online 24x7 securely and conveniently."

ChannelNet's patented SiteBuilder™ technology uniquely facilitates the rapid creation of web sites and portals that are designed to help improve customer interaction online. SiteBuilder is a global-ready platform that allows firms to launch multiple sites and easily expand into new markets.

Hyundai Capital America focuses on the development of innovative products and services to meet customers' financial needs. Headquartered in Irvine, CA, Hyundai Capital America currently serves more than 1,500 dealers and 500,000 customers in the US through the Hyundai Motor Finance and Kia Motors Finance lines of business. Hyundai Capital America has over 500 employees in Irvine, CA, Fountain Valley, CA and Austell, GA.

About ChannelNet:
For 26 years ChannelNet has been the leading provider of multichannel marketing solutions for the home improvement, automotive, retail, and financial services industries. ChannelNet's patented software, SiteBuilder™, allows customers to conduct research online and complete transactions either online, at a store, through a call center, or on a mobile device. ChannelNet has created thousands of solutions for hundreds of companies worldwide including BMW, Hunter Douglas, Ford Motor Company, Benjamin Moore Paints, Hyundai, Saks Fifth Avenue, Volkswagen, College Pro, World Omni Financial Corp., California Closets, Harman Kardon, Motorola, Hallmark, and many others. ChannelNet is a privately held company based in Sausalito, California and Detroit, Michigan. ChannelNet's solutions include networks of corporate, brand and sales channel web sites, personalized microsites, guided selling tools, and communication portals. Visit www.channelnet.com for more information, and follow frequent updates on Twitter (@channelnet) and Facebook (ChannelNet).

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    Alexis Elley
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