FIS Selected by VW Credit, Inc. to Support North American Loan and Lease Processing
VW Credit, Inc. to leverage FIS AutoSuite to advance goals
Integrated and scalable offering supports front-to-back lending spectrum for VW Credit, Inc.
AutoSuite solution processes more than 48 percent of all U.S. outstanding loan and lease receivables
JACKSONVILLE, Fla.--(BUSINESS WIRE)-- FIS™ (NYS: FIS) , the world's largest provider of banking and payments technology, today announced that VW Credit, Inc. (VCI) will deploy FIS' AutoSuite™ automotive finance solution for its North American loan and lease processing. VCI will also deploy FIS' Default Manager solution for customer service, collections and remarketing, as well as TouchPoint® Sales and Marketer for customer relationship management.
"Volkswagen and VCI are on the move and FIS' AutoSuite has the scale to support VCI's growing auto finance profile in North America," said David Slider, president, FIS Automotive Finance Group. "The AutoSuite solution provides the breadth and depth of capabilities required to consolidate portfolios, reduce costs and gain considerable processing efficiencies. FIS' solutions and depth of experience will support Volkswagen and VCI's growth in North America."
Founded in 1981, VCI is the auto finance arm of Volkswagen Group of America. VCI chose to team with FIS for its automotive finance to enable portfolio growth and to improve business processes.
"As VCI embarks on its projected growth plan, creating and maintaining operational efficiencies will be imperative to providing superior service to our dealers and end customers and enabling smooth operations," said Andrew Stuart, president and CEO, VW Credit, Inc. "The combination of a best-in-class application, proven implementation capabilities and excellent client references made VCI's selection of FIS an easy one."
The leading provider to the automotive finance industry, FIS supports more than 48 percent of all U.S. outstanding loan and lease receivables. AutoSuite, a full-spectrum solution for the automotive finance industry, enables businesses to adapt quickly to change by delivering industry-leading dealer finance, loan origination, integrated loan and lease servicing and payment services. The integration between AutoSuite, Default Manager and TouchPoint provides end-to-end integration of loan lease receivables, collections, customer service and customer relationship management capabilities.
VW Credit, Inc. (VCI), a wholly owned subsidiary of Volkswagen Group of America, Inc., was founded in 1981 as the financial services arm of Volkswagen Group of America, Inc. VCI services Volkswagen and Audi retail customers and dealers as Volkswagen Credit and Audi Financial Services.
The company provides competitive financial products and services to dealers and their customers throughout the United States including retail leasing, retail financing, and balloon financing, along with wholesale financing for new and used vehicles.
FIS (NYS: FIS) is the world's largest global provider dedicated to banking and payments technologies. With a long history deeply rooted in the financial services sector, FIS serves more than 14,000 institutions in over 100 countries. Headquartered in Jacksonville, Fla., FIS employs more than 32,000 people worldwide and holds leadership positions in payment processing and banking solutions, providing software, services and outsourcing of the technology that drives financial institutions. First in financial technology, FIS tops the annual FinTech 100 list, is 425 on the Fortune 500 and is a member of Standard & Poor's 500® Index. For more information about FIS, visit www.fisglobal.com.
This news release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future economic performance and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: changes in general economic, business and political conditions and other risks detailed in the "Statement Regarding Forward-Looking Information," "Risk Factors" and other sections of the Company's Form 10-K and other filings with the Securities and Exchange Commission.
Kim Snider, 904.438.6278
FIS Global Marketing and Communications
Mary Waggoner, 904.438.6282
Senior Vice President
FIS Investor Relations
KEYWORDS: United States North America Florida
The article FIS Selected by VW Credit, Inc. to Support North American Loan and Lease Processing originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.