AGOURA HILLS, Calif. — Motor Vehicle Software Corporation (MVSC)’s new Vitu Lending is a proprietary solution designed for the California and Nevada Credit Union League.
According to the firm, Vitu offers unprecedented security and accuracy to expedite all elements of the vehicle titling process for credit union lienholders. With the introduction and implementation of this streamlined workflow, lien notifications and title acquisitions will be processed electronically and effortlessly, cutting down the time it took credit unions to acquire titles from two week to two days.
"We are here to help expedite and facilitate the titling process for credit union clerks," said MVSC President Joseph Nemelka. "Until Vitu was introduced, they have been logging in to multiple systems to track the titling process – two programs, two support groups. We have simplified the route to one dynamic titling solution."
Nevada lenders will immediately benefit from Vitu through visibility into the status of vehicles sold by automobile dealers in California. Clerks can follow the titling status from the moment buyer information is entered into the system.
"Our California credit unions know that many of the titles they hold are not just California, but registered in Nevada or Arizona," Nemelka said. "This will help expedite title acquisition for them as well as for Nevada Credit Unions."
MVSC's DMVdesk electronic registration and titling solution is already in use in the California market, processing title work for 56% of dealerships there. As regulatory conditions and needs have evolved across the United States, MVSC has developed Vitu to support needs of state departments of motor vehicles, dealerships, fleet operators and now credit unions. Additional regional solutions are planned nationwide beginning in 2017.
Originally posted on F&I and Showroom