ATLANTA — Equifax Inc. today announced that Westlake Financial, a full-spectrum finance source, has agreed to use its TradeSight dealer intelligence platform to manage and monitor its dealer relationships.
TradeSight is designed to help finance sources analyze originations, current and future dealer partners, and performance of finance contracts booked through dealer partners. It works by combining Equifax consumer credit information with dealer and vehicle data from third-party data sources to enable Westlake and other auto finance sources to assess their dealer network and establish peer benchmarks to help evaluate dealers’ credit risk.
“We’re happy to use this new product to help us drive well-informed business decisions and develop and adjust strategies so we can more accurately understand the performance and behavior of our dealership network,” said Ian Anderson, group president of Westlake Financial. “Since TradeSight comes with detailed loan-level data and four years of history, Westlake was able to benchmark ourselves against our various competitors and adjust our go-to-market strategy as a result.”
Equifax delivers a combination of data via TradeSight, including dealership names, firmagraphic information, purchased vehicle details and vehicle values, loan structure characteristics, and loan performance metrics. Additionally, the product provides pre-configured finance source categories such as bank, captive, credit union, finance company, buy-here, pay-here information and more.
“By providing comprehensive analytics from a single platform, TradeSight will help Westlake Financial continue to compete at a high level and establish even stronger relationships with dealers in order to profitably grow their portfolio,” said Lou Loquasto, vice president of auto finance and dealer vertical for Equifax.
Originally posted on F&I and Showroom