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The Retail Finance Solutions (RFS) division of Metavante Lending Solutions provides complete consumer vendor financing solutions for manufacturers, distributors, retailers, and financial institutions. We drive sales for our vendor partners and increase loan volume for our lending partners. These solutions utilize the RFS CreditWorx™ technology platform – a best-in-class, Web-based, private-labeled, comprehensive consumer and small business loan origination system for North American manufacturers, retailers, and the indirect lending channels of financial institutions.
RFS Consumer Vendor Financing Solutions
RFS provides solutions for several vendor markets, including recreation, home improvement, HVAC, insurance, and other asset-based lending markets. These solutions also offer end-to-end, seamless technology integration for point-of-sale loan origination, and encompass all services required to successfully implement national consumer vendor finance programs. RFS has partnered with several North American leading vendors and financial institutions, implementing successful finance solutions. These vendors include Yamaha, Jacuzzi, Suzuki, Sundance, KTM, Kawasaki, Enbridge, and Polaris.
The RFS consumer vendor finance solutions enable manufacturers, distributors, and retailers to increase product sales through national finance programs while empowering lending partners to increase loan volume and processing efficiency. These solutions effectively combine the CreditWorx technology platform, business process, training, and outsourced services. The result: a truly unique set of products and services, allowing our clients and lending partners to quickly increase sales, expand distribution channels, and compete more effectively.
Our solutions intelligently link strategic funding sources to each vendor’s financing requirements, individually matching credit risk and loan types with customer profiles. Lending partners’ policies and credit scorecards may be programmed into the system, or CreditWorx can integrate directly with the lender’s current decision engine solution to allow for a purely automated system with realtime decisions being made at the point of sale. The decision process takes only a matter of seconds, as everything occurs in realtime and is performed on demand. By structuring complementary lenders within each program, RFS is able to provide an approved stream of loan volume for each participating lender. Additionally, we can deliver assured loan volume for our participating lending partners, since our solutions do not follow the “auction model” structure.
Our consumer vendor finance solutions provide North American manufacturers, distributors, retailers, and financial institutions with:
- Initial and Ongoing Program Management
- Consumer Finance Program “Branding”
- Quick and Easy Credit Processing at the Point of Sale
- Quick and Assured Payment for Completed Transactions
- Call Center Support
- Comprehensive Training – Initial and Ongoing
- Dealer Relationship Management
- Program Launch Coordination
- Lender Policy Management
- Funding Services, such as Contract Audits and Dealer Funding
- Promotional Finance Program Administration
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The RFS consumer vendor financing solutions provide manufacturers, distributors, and retailers with:
Increased Sales - By acquiring more customers, providing attractive alternative payment plans vs. a direct cash purchase, and being able to meet the needs of a variety of customers through targeted lenders
“Value-Add” to Established Dealer Network – By providing a proven, world-class POS financing program.
Proactive Account Management – Meets needs of both vendors and lending partners by providing the right information at the right time for superior customer service.
One Platform / Total Flexibility – The CreditWorx platform can support multiple lenders, multiple channels, and multiple lending products (loans, leases, revolving credit) – all on a single Web-based loan origination platform.
Improve Operational Efficiency – CreditWorx streamlines the underwriting process, expedites credit decisions, and mitigates credit risk by ensuring compliance with your product and lending policies.
Time to Market – The RFS consumer vendor finance solution can be ready to go in as little as 90 days.
Lending Partners
For lending partners, this means:
A Qualified Stream of New Customers – New clients reflect a financial institution’s targeted market segment and credit profile. These customers develop into “relationship” customers as lending partners optimize “cross-sell” opportunities.
A Reduction in Origination Costs – The RFS automated indirect lending solution significantly reduces manual interaction in the loan origination process. When required, our funding center will assist in the completion of the document audit, verification process, and funding to a lender’s stated requirements. RFS offers a complete turnkey indirect loan origination solution.
Time to Market – RFS consumer vendor finance programs can drive new loans to a lender in as little as 90 days
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