CORPUS CHRISTI, Texas – Navy Army FCU has signed with VINtek to provide it with automotive collateral management and electronic lien title services through the VINtekTime platform.
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Electronic Lien Title replaces paper titles with an electronic exchange of data between the Texas DMV and the $1.3-billion credit union.
The company said the program reduces costs via the elimination of paper and automation of manual processes. It also mitigates the fraud risk associated with falsified lien release letters and ensures that a member’s title cannot be lost during the lending relationship.
