SACRAMENTO, Calif.–(Business Wire)–
FDI Collateral Management is pleased to announce the release of its new
consumer-facing solution for processing vehicle title requests. Created
specifically to meet the needs of financial institutions, mytitlesupport.com is
an Internet-based service that allows lenders to outsource the vehicle title
requests they currently field from borrowers, dealers, lenders, and other third
parties.
The first service of its kind, mytitlesupport.com transfers the management,
support, and fulfillment of requests for items such as duplicate titles and lien
satisfactions to FDI, which supplements its Web-driven processing with
traditional call center support. The result is significant cost and time savings
for lenders who are now able to outsource the labor-intensive and time-consuming
process of handling these requests.
“FDI is excited by the positive market reaction to mytitlesupport.com,” states
FDI President, Chris Hodge. “Mytitlesupport.com enables lenders to outsource
what tends to be a specialized and time-consuming support activity, thereby
reducing their own workload at substantial cost savings.”
“It`s rewarding when you introduce a service offering that all participants
benefit from,” he continues. “In the case of mytitlesupport.com, those benefits
are threefold: the requestor receives timely information; the lender is able to
reduce costs and free up resources; and FDI is able to expand its service
offerings to lenders.”
Because FDI is the nation`s leading provider of title administration services,
lenders can be confident their customers are receiving the knowledgeable support
and expeditious results that only a company specializing in vehicle title
processing and management can offer. “The design and development of the
mytitlesupport.com service was the direct result of listening to our clients
express interest in outsourcing other title-related customer support
activities,” said FDI`s EVP and Product Manager, Bev DeVine. “We realized that
servicing title requests was not only labor-intensive, but it also created an
expense for financial institutions that they had no real way of recovering.”
Outsourcing title requests through mytitlesupport.com allows financial
institutions to reduce administration costs and reallocate existing resources to
focus on core business activities. By collecting service fees from requestors,
lenders can also take advantage of the opportunity to turn what was an
unrecoverable business expense into a cost recovery opportunity.
Highlights of the mytitlesupport.com service include:
* A customized entry point branded with the financial institution`s logo
* Both online and call center support
* Multiple electronic payment options
* Receipts issued to both the requestor and the lender
* The ability to satisfy requests for lien satisfaction and duplicate title on
paid-off accounts
* Requestor activity monitoring through online reports
Mytitlesupport.com is FDI`s latest effort to make title administration easier
for the vehicle lending industry. To learn more about mytitlesupport.com – or
for more information on FDI`s other service options, please contact Bev Devine
at (916) 730-4230 or bdevine@fdielt.com.
FDI, a wholly owned subsidiary of triVIN, Inc., is the nation`s leading provider
of integrated paper and electronic vehicle collateral solutions for automotive
lenders. These capabilities have helped over 2,400 lienholders reduce costs and
improve customer satisfaction.For further information, please visit
www.fdielt.com.
TriVIN provides manual and electronic solutions that streamline motor vehicle
credentialing for all sectors of the automobile industry throughout the
nation.To learn more about triVIN`s cutting-edge solutions, call 800.876.2312,
email maudette@trivininc.com, or visit www.trivin.com.
American Capital, Ltd., the primary equity holder of triVIN, is a publicly
traded private equity firm and global asset manager.Founded in 1986, American
Capital has $12 billion in capital resources under management and eight offices
in the U.S., Europe and Asia.For further information, please refer to
www.americancapital.com.
FDI Collateral Management
Bev DeVine, 916-730-4230
EVP and Product Manager
Cliff Thompson, 248-762-6690
EVP, Business Development
Copyright Business Wire 2010