BURLINGTON, ON, Jan. 18 /CNW/ - PowerBand Global, Inc., provider of a
network that simplifies the acquisition and disposal of vehicles and
includes a state-of-the-art Finance Portal, today announced a credit
application integration partnership with Open Dealer Exchange, LLC. The
agreement will enable automotive lenders in Canada to receive credit
applications and send credit decisions seamlessly to the dealership's
dealer management system (DMS).
Troy, Michigan-based Open Dealer Exchange, a joint venture between
Automatic Data Processing, Inc. (ADP) and the Reynolds and Reynolds
Company, streamlines the automotive finance process by providing a
seamless and integrated user experience within the DMS environment,
without the use of hostile and costly third-party interfaces. This
ultimately results in improved operational efficiencies, reduced costs
and increased customer and dealer satisfaction.
"We are extremely excited about our partnership with Open Dealer
Exchange and what it will mean for lenders and dealers throughout
Canada," said Peter Rakoczy, PowerBand Global CEO. "Our complementary
offerings and combined technology expertise will offer our clients a
seamless, accurate and timely way to send and access critical
transaction data directly from the DMS."
With unprecedented access to the DMS through Open Dealer Exchange,
PowerBand Global will be able to more efficiently facilitate credit
applications between dealers and lenders. Dealers will no longer have
to duplicate data entry between systems. Data will flow easily back and
forth between the DMS and the lender with just one point of entry.
"Our direct connection to ADP and Reynolds and Reynolds DMS systems will
enable PowerBand to take their credit application and contracting
services to a level that is unparalleled in the industry," says Steve
Luyckx, General Manager for Open Dealer Exchange. "Canadian dealers
will have the most effective access to PowerBand's established network
About PowerBand Global, Inc.
PowerBand Global brings together a unique set of skills and experience
from auto dealerships, auto finance, software, auctions and systems
processes to create compelling software services that bring value to a
broad set of stakeholders in the vast automotive marketplace.
For more information on PowerBand Global, please visit www.powerbandglobal.com.
About Open Dealer Exchange, LLC
Open Dealer Exchange enables providers and finance sources to embed
their offerings into point-of-sale (POS) systems used by automotive
dealers to conduct business both in the showroom and the business
office. A joint venture between Automatic Data Processing, Inc. (ADP)
and The Reynolds and Reynolds Company, Open Dealer Exchange exists to
improve the overall F&I process within automotive retailers throughout
the United States and Canada.
For more information on Open Dealer Exchange, please visit www.OpenDealerExchange.com.
SOURCE PowerBand Global, Inc.
For further information: