Wednesday, Dec. 01, 2021, 10:53 AM
Black Book and CoreLane Technologies now are working together so finance companies have a clear view of the collateral attached to their paper.
According to a news release distributed on Tuesday, Black Book announced the integration of its vehicle pricing, data, and analytics into CoreLane Technologies’ CreditLane product.
CoreLane Technologies, a provider of transactional connectivity solutions for dealers and finance companies, now will be able to let dealerships submit credit applications with precise vehicle valuations, including the latest VIN-specific data enhancements that Black Book has to offer — History Adjusted Valuations and Enhanced VIN matching.
“This partnership allows lenders the ability to communicate faster with dealers and speeds up the overall underwriting and funding process while reducing errors,” said Evan Lindbeck, vice president of operations at CoreLane Technologies.
CreditLane also can help to facilitate dealer onboarding, improve marketing to dealers and filter applications so finance companies can be as efficient as possible.
“This partnership is a great way for both dealers and lenders to close more deals,” Black Book executive vice president of revenue Jared Kalfus said. “We’re excited that both can now use this data to reduce their risk and increase their profits.”