The Lorain National Bank has deployed electronic lien and title technology that will allow the bank to receive paperless vehicle titles instead of physical documents from the Ohio Bureau of Motor Vehicles.

Larry Highbloom, president of VINtek, a Philadelphia-based tech firm that provides automotive collateral management services, says paperless titles require no physical storage or postage costs during lien satisfaction processing, and are also easier to manage.

Melissa Kinlin, avp and loan center supervisor at The Lorain National Bank, which is located west of Cleveland near Lake Erie, says the move will also allow the bank to reduce title management expense and allocate fewer staffers to collateral management.

 

Comerica's Efficient Branches Sprout in Arizona

The Phoenix area is noted for being sunny - its mayor has gone as far as to release a multi-faceted plan to make it a "solar city."

But there are other ways to improve sustainable use of energy, and Comerica Bank recently opened the first two of four planned "green" banking centers in the Phoenix area that include a number of environmental staples beyond the sun.

Not only will the branches make ample use of natural lighting, but also low-water landscaping, recycled materials, energy efficient cooling systems, motion sensitive lighting and "green" janitorial materials, or cleaning materials that are reusable, packaged in an ecologically sound manner or use natural materials. The third green branch is expected to open later this year, and the fourth will open in early 2010.

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