PowerBand Global, Inc. Announces Credit Application Integration Partnership With Michigan-Based Open Dealer Exchange, LLC

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 of lenders."

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.

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Rita Giachini
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