Auto Finance Companies Speed Time to Market for New Products, Reduce Risk, and Drive Down Operational Costs With Oracle Financial Services Lending and Leasing
REDWOOD SHORES, CA, Apr 30, 2013 (Marketwired via COMTEX) --
Oracle (NASDAQ: ORCL)
-- Auto finance companies are looking to drive down operational costs,
accelerate end-to-end processes, and reduce overall risk to ensure a
competitive advantage in an increasingly complex market. Oracle
Financial Services Lending and Leasing Version 14.0, released today,
delivers a comprehensive solution -- built on a flexible
service-oriented architecture -- that automates and unifies the auto
financing lifecycle -- from origination to servicing through
collections -- and gives financial institutions the agility to quickly
capitalize on new opportunities.
-- With Oracle Financial Services Lending and Leasing, financial
institutions can use a single platform to effectively manage the auto
finance processes across products, divisions, distributors, and
communication channels, reducing IT complexity and costs while
improving customer service and time to market. It also delivers
accurate, actionable information and advanced analytical capabilities
that help to reduce the average cost per loan and lease and minimize
-- With comprehensive functionality for auto-dealers, the solution helps
establish a closer tie between lenders and auto dealers to provide a
seamless customer experience.
-- Version 14.0 includes a new user interface that provides improved
productivity and is easier to navigate.
-- Gateway One Lending & Finance, a leader in the indirect auto
finance marketplace, is using Oracle Financial Services Lending and
Leasing to accelerate origination and servicing processes, reduce
risk, and drive new revenue streams. The lender, based in Anaheim,
California, is improving business agility and accelerating time to
market for new products with the solution's flexible and extensible
scoring and pricing tools -- enabling it to capitalize on emerging
-- Using Oracle Financial Services Lending and Leasing, Gateway One has
automated and standardized funding processes by implementing an
interface with DealerTrack Digital Services for data entry and
verification services. As a result, it can boost operational
efficiency, drive down loan origination and servicing costs, improve
collections effectiveness, and reduce revenue leakage.
-- The solution's analytical and behavior scoring capabilities enable
Gateway One to make more informed credit decisions that reduce risk
related to non-performing loans.
-- By standardizing on Oracle Financial Services Lending and Leasing,
auto finance companies reduce IT complexity and management costs
associated with maintaining multiple platforms, and improving process
and data integration across origination, servicing and collections
-- "Oracle Financial Services Lending and Leasing's flexibility and
robust functionality enables us to address our most pressing
challenges, including enhancing the customer experience and keeping
operational costs down. At the same time, we gain expanded insight
that helps us to reduce risk," said Todd Pierson, chief operating
officer, Gateway One Lending & Finance.
-- "As leading lenders look to drive growth, institutions such as Gateway
One Lending & Finance, are investing in innovative solutions that
equip them to rapidly capitalize on emerging market opportunities,
while reducing risk and improving the overall efficiency of their
origination, servicing, and collections processes. Oracle Financial
Services Lending and Leasing meets these requirements with a single
scalable, robust and proven platform, that also helps organizations to
reduce IT complexity," said Chet Kamat, CEO & Managing Director,
Oracle Financial Services Software.
-- Oracle Financial Services
-- Follow Oracle Financial Services on Twitter
-- Join the Oracle Financial Services Community on Facebook
-- Subscribe to the Oracle Financial Services YouTube channel
-- Oracle Financial Services Blog
-- Oracle and Gateway One Lending & Finance Webcast
Oracle engineers hardware and software to work together
in the cloud and in your data center. For more information about
Oracle (NASDAQ: ORCL), visit www.oracle.com.
About Oracle in Industries
Oracle industry solutions leverage the
company's best-in-class portfolio of products to address complex
business processes relevant to financial services, helping speed time
to market, reduce costs, and gain a competitive edge.
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SOURCE: Oracle Corporation
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