The average transaction cost of an automobile is rising every year, so consumers are trying to ease that financial outlay and turning towards leasing. In fact, 34% of all retail auto sales in 2018 were leases. Millennials in particular prefer leases. Nearly one third of millennials chose leasing over buying in 2016, making up 12% of all leases in the U.S. No longer is leasing only for luxury brands. Full-size…
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Be Your Members’ Hero, A NACUSO Free Live Webinar In Case You Missed It Download slides or watch video below. Topics Covered On This Webcast: With regulators cutting into credit unions’ ability to serve members and generate income, you need an efficient and sound way to make more loans that generate more revenue. How Leaders CU successfully: Fulfills its mission to serve as a champion for ALL its members and…
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Here at ILT we buy into the notion that customer support is the best way to market our company. Our current clients are partners, so why not solidify that relationship on an ongoing basis? It turns out that this line of thinking is consistent with the idea that it costs 5 times more to recruit a new customer than it does to retain one (Forbes: article). Banks are in the…
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Will McGregor is quoted extensively in Credit Union Magazine article. Like the six blind men asked to describe what part of an elephant they were touching–trunk, leg, ear, tail, etc.–summarizing auto lending software in one word isn't easy. • Is it customizable? Yes. • Can you generate other types of loans with it? Yes. • Once you make an auto loan, can the software protect you from fraud? Mostly. Custom design is…
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Even though the Rules went into effect on January 1, many remain confused about how to comply. The Compliance Q&A article on page 51 of the January issue of Credit Union Magazine includes the following question: "Who's responsible for providing the risk-based pricing notice in an indirect lending transaction: the auto dealer or the credit union?" Apparently the magazine editors believe that a fair amount of confusion still exists…
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Credit unions can't let any opportunities get away. Integrated Lending Technologies, LLC has entered into a strategic partnership with CO-OP Member Center, a wholly-owned subsidiary of CO-OP Financial Services, to enhance service to lender and dealer clients. ILT provides a complete Web-based system for managing indirect lending for vehicle and other equipment dealers and lenders known as Dealer Indirect Lending and Leasing System™, or DILLS™. CO-OP Member Center provides…
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"Much of our recent growth has been in the subprime segment, and our clients specializing in this market are particularly interested in increased efficiencies." Integrated Lending Technologies, LLC (ILT) and Advanced Business Computers of America, Inc. (ABCoA) completed the integration of ILT's DILLS™ system with ABCoA's Deal Pack® Dealer Management System. DILLS™ is an indirect loan origination system for auto lenders, and Deal Pack® is a scalable, Windows-based solution…
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DILLS featured prominently in Credit Union Magazine article. Peter Vehko, our Vice President of Business Development, was quoted extensively in an article appearing on page 56 of the November, 2013 issue. Copy and paste the following into your browser: https://mydigimag.rrd.com/publication/index.php?i=179597&p=56# Or read the text of the article below: Credit union auto lenders likely will look back at 2013 and proclaim, "Not bad!" Bob Child, chief of staff at CU…
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As a result of this agreement, mutual clients will enjoy seamless data integration enabling them to produce an almost limitless array of reports. Integrated Lending Technologies, LLC (ILT) and Visible Equity, announced today that they have entered into an agreement which will enable Visible Equity to import ILT's loan application data from its DILLS™ system directly into Visible Equity's analytics software. As a result of this agreement, mutual clients…
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Allegro Lending Suite will be comprised of three loan origination software modules, one for indirect lending (Dealer), another for direct consumer lending (Branch) and a third for merchant lending (Provider). Everyone here at ILT is involved in planning, designing, developing or testing the next generation of our lending technology. Allegro Lending Suite will be comprised of three lending modules, one for indirect lending (Dealer), another for direct consumer lending…
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