DOWNERS GROVE, Ill. — CreditMiner, a pre-qualification solution for dealers, has acquired full global reseller status with the three major credit bureaus, allowing for a seamless transition from a soft bureau transaction to a full application within the company’s software platform.
The announcement comes just as CreditMiner prepares for the full launch of its BASIS₂ platform.
“The acquisition of this status for CreditMiner truly solidifies our commitment to both the automotive dealers and the retail space we operate in,” said Don O’Neill, general manager of CreditMiner. “In many situations, the bureaus released a multi-year freeze for the addition of new resellers, which I feel speaks volume to our organization, as well as our commitment to compliance and technology.”
As a reseller, CreditMiner can now offer the full suite of available FCRA regulated and Non-FCRA regulated data from the credit bureaus. This means that a dealer can now have one relationship for all bureau products, rather than the current model of introducing yet another vendor/service provider into the relationship, officials said.
“I speak to dealers every day. More often than not, they can’t tell what they are being charged for credit and compliance data, yet alone who is providing it,” O’Neill said. “With this addition to our solution, we now allow the dealer to have full access to the credit and compliance data they need, without having to utilize multiple logins and multiple billing. CreditMiner provides dealers with the opportunity to hold a single vendor accountable for service and pricing, as well as the ability to elevate their product and service offering.”
CreditMiner has timed this release to support the full launch of its patent pending BASIS₂ platform. The solution allows dealers to take a customer from online or in-showroom pre-screen, all the way to deal funding, without collecting a social security number or date of birth. It also lets consumers immediately see which banks in the dealer’s indirect lending portfolio desire to provide finance options to the consumer.
With real-time lender pre-qualification decisioning, BASIS₂ enables dealers to add applicable mark-ups, while still removing the finance guesswork for consumers, according to the company.
“Our goal has always been to enable dealers to complete a vehicle transaction online. We are confident that this tool brings dealers to the point of consummation,” O’Neill explained. “With the addition of full spectrum offering as a reseller, we now allow the dealer to do it efficiently, cost effectively, and with cutting-edge technology.”
For more information on CreditMiner, click here.
Originally posted on F&I and Showroom