BALTIMORE — Westlake Financial Services has partnered with eOriginal Inc. to digitally transform its dealer management system into an econtracting solution.
Westlake has paired eOriginal’s eAsset Management technology with DealerCenter, the finance source’s dealership management system and loan submission platform. This will allow dealers to sign contracts electronically, upload supporting documentations and instantaneously push the information to Westlake when the loan package is complete.
“In the continuing evolution of auto lending, Westlake Financial is positioned to capture the full value of digital transformation across the financial services spectrum by adopting our digital asset management platform,” said eOriginal CEO Brian Madocks. “Westlake Financial has now moved ahead of the industry and become a true innovator.”
Casey Harmon, Westlake’s senior vice president of corporate development, added: “Our two most important customer groups are dealerships and car-buyers, and with electronic contracting we can serve them both better. The DealerCenter eContracting solution is a more efficient, accurate process for our dealer network, and we think customers will enjoy the simplicity.”
Headquartered in Southern California, Westlake originates indirect retail installment contracts through a network of more than 20,000 new- and used-car dealers throughout the United States.
By connecting digital loan origination systems and dealer management systems, funders can more rapidly link with dealers and, in some cases, complete the financing process before the borrower even drives off the lot.
Originally posted on F&I and Showroom