Company’s Vehicle History Information Brings Lenders Unique Views of Collateral Risk
KEY BISCAYNE, FL, UNITED STATES, June 22, 2022 /EINPresswire.com/ — VINData®, a provider of trusted vehicle history and remarketing information, today announced a partnership with Inovatec, a leader in cloud-based loan origination and loan management solutions for the automotive sector. Through this relationship, VINData will integrate its offerings into Inovatec’s platforms, giving lenders across the United States and Canada unprecedented visibility into the histories of specific inventory to identify potential risks, and improve the management of their collateral portfolios. The integration into the Inovatec LOS enables lenders to seamlessly access VINData information at the time of loan decisioning to quickly and easily evaluate used vehicle collateral risk. The LMS integration allows Inovatec lenders to monitor the health of their collateral portfolio, and identify potential risks before they become financially detrimental.
VINData provides DMV title and brand information, along with data from the National Motor Vehicle Title Information System (NMVTIS) regarding insurance loss and salvage and junk information. Other data includes active and issued recall data, open liens, active thefts, and vehicle values from leading value guide providers Black Book® and NADAGuides®/J.D. Power and Manheim Market Report® (MMR).
“We are delighted to work with VINData and provide the company’s vehicle history and associated data to our lenders in a way that makes it easy for them to use,” said Vlad Kovacevic, chief executive officer and co-founder of Inovatec. “VINData’s highly customizable approach lets us tailor the data to meet specific lender requirements, and we anticipate that the offerings from VINData will be an important source of information to lenders who book multiple vehicle types, both in the US and Canada.”
“Inovatec is exactly the type of integration partner we look for,” said Adam Siner, President, VINData. “The company’s platform is the perfect conduit to deliver the real-time vehicle history and decisioning information that lenders need to optimize profits and reduce risk. We are very proud to partner with Inovatec and join their efforts to provide world-class services. ”
VINData provides leading automotive companies with robust and cost effective commercial and custom vehicle data solutions to help manage risk, improve vehicle remarketing, drive intelligent decision-making, and extract value from vehicle data. Created by automotive industry veterans with more than 70 years of vehicle history and data experience, VINData information covers cars and trucks and specialty vehicles of all kinds. For more information, please email email@example.com
Inovatec Systems Corporation’s proven cloud-based loan origination and loan management solutions improve business outcomes for automotive, power sports equipment, and other lenders across North America, Europe, and additional markets. Inovatec’s uniquely flexible platform empowers lenders to satisfy fast-changing customer requirements, increase revenue, reduce operating costs, and improve customer experiences—all through an intuitive, easy-to-configure and manage interface. For more information, please visit www.inovatec.com.
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