Philadelphia-based VINtek, a provider of automotive collateral management and electronic lien and title services for auto lenders, announced that it has opened an office in Troy to support continued growth in its direct-to-consumer lending platform, which has doubled in transaction volume each year since 2008.

The operations center in Troy will provide auto lenders with additional processing capacities, load balancing and business continuity services regarding VINtek’s direct-to-consumer lending platform, as well as its cloud-based collateral management system, VINtekTime.

As D2C lending continues to be demanded by consumers, lenders will have access to a team of VINtek employees that manage the processing of direct auto finance leads driven to the institution via various VINtek consumer portals.
In addition, staff will provide lenders with VINtek’s business process outsourcing services, which address document fulfillment, execution, exception handling and lien perfection.

The office, VINtek’s fourth location, builds upon the company’s expanding national presence with existing offices in Sacramento, Calif., Las Vegas and Philadelphia and its IT backup center in Wooddale, Ill.

“We think it is vital to combine the benefits of traditional brick and mortar locations with our cloud-based technology,” said Larry Highbloom, president of VINtek. “VINtek continues to seek optimum locations for our expansion and no city better symbolizes the resurgence of the domestic auto industry than the Detroit metro area. We look forward to creating job opportunities in this area and taking advantage of an expansive pool of auto industry-based talent to drive automotive lending volume for financial institutions and enhance the financing experience for borrowers.”

In its 21st year, VINtek helps lenders increase customer satisfaction and operating efficiency while simultaneously decreasing costs and errors associated with collateral management through the introduction of innovative consumer loan servicing technologies. VINtek holds two U.S. patents on automotive lien processes and is the recipient of numerous industry awards for its processing services.

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