TALLAHASSEE, Fla., July 16, 2024 /PRNewswire/ — F&I Sentinel, the trusted risk-management options supplier for finance and insurance coverage merchandise (F&I) to the automotive finance business, immediately introduced its partnership with defi SOLUTIONS, the main supplier of originations, servicing, and managed-servicing software program and companies. Collectively, F&I Sentinel and defi SOLUTIONS will supply elevated effectivity and accuracy by means of automation, and improved F&I product compliance for automotive finance lenders, automotive sellers, and product firms.
By way of a patchwork of state and federal laws, auto lenders are held accountable for non-compliance throughout any part of an F&I product’s lifecycle. The ever-expanding array of F&I merchandise supplied throughout the car-buying course of, from automobile service contracts to GAP waivers to automobile worth safety agreements, will increase auto lenders’ compliance threat for aftermarket merchandise financed by means of the auto mortgage. Automation is essential to attenuate human error and mitigate compliance dangers.
“Today’s ever-changing regulatory landscape requires dynamic compliance, more than just the typical standard controls and processes, consultants, or technology automation,” mentioned F&I Sentinel CEO Stephen McDaniel. “The partnership with defi reinforces our commitment to the industry to deliver proactive, tech-enabled managed compliance solutions that bring transparency, efficiency, and clarity throughout the entire F&I product lifecycle.”
Below the partnership, defi XLOS and defi ORIGINATIONS purchasers will be capable of shortly faucet into F&I Sentinel’s CITADEL® platform advantages, together with: entry to its repository of greater than 112,000 compliant F&I merchandise, guaranteeing solely compliant merchandise are funded; a streamlined funding course of for higher vendor relations; the incorporation of CITADEL information into the lender’s contract acceptance enterprise guidelines for fewer funding errors; and entry to your complete F&I product kind for each product funded within the deal jacket.
We perceive the challenges and complexities lenders face and are dedicated to offering them the very best options and companies that meet their wants and expectations,” said Tom Allanson, CEO of defi SOLUTIONS. “By way of this partnership with F&I Sentinel, our purchasers can scale back their compliance dangers, prices, and burdens whereas enhancing their total efficiency, fame, and buyer satisfaction by means of the expertise and companies we offer.”
Based in 2018, F&I Sentinel offers technology-enabled threat administration options for the complete lifecycle of F&I merchandise within the automotive finance business. Greater than 100 lenders, together with six of the highest 10 auto lenders within the U.S., depend on F&I Sentinel options to achieve efficiencies and mitigate the reputational, litigation, monetary, and enterprise dangers inherent within the origination, servicing, and cancellation of F&I merchandise.
To be taught extra about F&I Sentinel’s CITADEL® platform, click on right here.
About F&I Sentinel
F&I Sentinel is how auto-finance firms can lastly keep forward of the ever-changing regulatory panorama and away from litigation crosshairs. Our dynamic compliance method uniquely combines automation with human intelligence for unmatched expertise, unmatched rigor, and unparalleled insights. Powered by CITADEL®, the world’s first complete F&I compliance administration platform, our staff helps you obtain compliance all through the complete F&I product lifecycle, from origination to cancellation and refunds. That is why six of the highest 10 auto lenders depend on F&I Sentinel to mitigate the reputational, litigation, monetary, and enterprise dangers inherent in financing F&I merchandise.
F&I Sentinel. Get Compliance Going Your Approach™. For particulars, go to right here.
Media Contacts:
Kathy Berardi
Carabiner Communications for F&I Sentinel
678.644.4122
[email protected]
SOURCE F&I Sentinel