ONTARIO, Calif. – CU Direct Lending said it has signed with Open Dealer Exchange to offer direct credit application and contract validation data integration from the dealers’ point-of-sale system directly to the CUDL system.
“The agreement with Open Dealer Exchange allows our credit union members a more streamlined approach during the contracting process,” said Tony Boutelle, president of CU Direct. “With our combined technology expertise, lenders will have access to critical information directly from the DMS, something that is tough to do today without the connection to Open Dealer Exchange.”
Open Dealer Exchange, based in Southfield, Mich., was founded in 2009 as a joint venture between ADP Dealer Services and The Reynolds and Reynolds Company. It integrates a finance source, or F&I, product provider directly within an auto dealership’s DMS. By eliminating the need for dealers to log in to multiple systems or re-key data into various applications during a vehicle sale, the company said its process results in increased operational efficiencies, reduced contract errors and a more streamlined process with a lender or provider’s franchised dealerships.
