 |
 |
| DataScan Technologies Enters China with Next Generation of its Wholesale Financing Solutions |
Alpharetta, Ga. (February 4, 2008) - DataScan Technologies LLC (DataScan), a global leader in automotive wholesale finance accounting and risk management systems, today announced its entrance into China's automotive market with a new, robust version of its wholesale loan accounting suite. Named Wholesale Management Suite Version 4.x, the enhanced system was rebuilt with greater functionality and flexibility, including the ability to support languages with double-byte character sets, such as Chinese. Dongfeng Nissan Automotive Finance (DNAF), a captive finance company, was the first client in China to implement the system.
Included in the 4.x suite are upgraded versions of DataScan's Wholesale Management System (WMS), Collateral Management System (CMS) and Dealer Access System (DAS) software. The suite can now support any language, once translated, including those with double-byte character sets. It also allows for greater customization depending on the client's needs. For example, the systems can be scaled up and customized to handle millions of loans, if necessary.
"Over the past 20 years, DataScan has become the global leader in wholesale floorplan products and services" said Frank Armstrong, president, DataScan Technologies. "By combining state-of-the-art technology with superior wholesale floorplan lending knowledge, we feel that 4.x will help expand our market-leading position into China and other international arenas."
"As a leading automotive finance provider, DNAF was key in helping us fine-tune the 4.x suite for clients in China and other countries with similar language requirements and business practices," added Armstrong.
DataScan's products have revolutionized the way banks and captive finance companies manage their floorplan portfolio, allowing them to work more effectively with quick, secure Internet access. Some of 4.x's new key features include:
- Expanded international capabilities, including support for multiple currencies and double-byte character sets
- Audit tracking of all data changes
- Browser-based user interface
- Enhanced backdating of all transactions and rate/plan changes
- Improved role-based security
- Separate reporting database for improved flexibility and performance
- Stencils allow for user control over the appearance and behaviour of screens
DataScan currently operates versions of its product suite in 15 countries located in Asia, Europe, North, Central and South America. Its systems manage over $45 billion in outstanding collateral.
The 4.x suite includes the following DataScan systems:
Wholesale Management System
Considered the "industry standard," DataScan's Wholesale Management System was specifically designed to satisfy the unique needs of the wholesale floorplan industry. WMS provides banks and captive finance companies with the flexibility to market a broad range of wholesale lending programs, real-time information necessary to manage corresponding risk, and cost savings required to remain competitive. WMS clients can realize higher profits, lower risks, and increased productivity.
Dealer Access System
The first application of its kind, Dealer Access System offers dealers real-time Internet access to their wholesale floorplan portfolio and allows their users to submit floorplan loan requests, equity account deposits/withdrawals, and remit payments - at any time, day or night. Dealers can also review and report on critical management data including available credit, outstanding balances, monthly billing statements, and current interest rates.
Collateral Management System
Designed specifically for wholesale lenders, DataScan's Collateral Management System offers financial institutions state-of-the-art technology to manage floorplan risk and improve efficiency. CMS helps lenders identify potentially risky situations before a loss occurs by capturing relevant data and highlighting risk factors on a variety of review screens and reports. CMS improves efficiency by automating the reconciliation and reporting processes.
Note to Media: DataScan Technologies executives will be available for interviews at the AFSA Vehicle Finance Conference & Exposition in San Francisco, February 6-8, 2008 (Booth No. 18). They will also be available at the NADA Convention and Expo in San Francisco, February 9-12, 2008. To schedule an interview, please call Ilisa Finkelman at (954) 363-5550 or (954) 621-7989.
About DataScan Technologies LLC
DataScan Technologies LLC (DataScan) (www.datascantech.com), headquartered in Alpharetta, Ga., is a global leader in wholesale finance accounting and risk management systems and services. Specializing in floorplan solutions, DataScan has revolutionized the way banks and captive financial institutions manage their collateral, allowing them to work more effectively with quick, secure Internet access. The first to market dealership Internet solutions for wholesale financial institutions, DataScan enables closer electronic communications between the lender and the dealer.
DataScan is a division of World Omni Financial Corp. (World Omni) (www.worldomni.com), a diversified financial services company. World Omni operates as a subsidiary of JM Family Enterprises, Inc. (JM Family) (www.jmfamily.com), an $11.1 billion diversified automotive company ranked by Forbes as the 22nd-largest privately held company in the U.S. JM Family is currently ranked by FORTUNE® as one of the 100 Best Companies to Work For, its tenth consecutive year on the list. It has also appeared on the InformationWeek 500 list of leading technology innovators for five consecutive years [2003-2007]. JM Family is headquartered in Deerfield Beach, Fla.
Media Contacts:
Anne-Beth Nemeroff
954-429-2387 office
954-868-3259 cell
Anne-beth.nemeroff@jmfamily.com
Ilisa Finkelman
954-363-5550 office
954-621-7989 cell
ilisa.finkelman@jmfamily.com
|
|
|
|
|
