DealTrak unveil new data insight tool for finance brokers
Enabling users to access customer credit files directly from the DealTrak interface, the new plug-in is intended to assist the broker in identifying the most suitable lender for the buyer’s requirements, while also eliminating the need to switch between systems when completing a proposal.
Based on a quotation search, there is no detrimental impact on the customer’s credit file as the broker should identify the best lender for each individual’s circumstances. Both brokers and lenders will benefit from increased efficiencies driven by this functionality.
DealTrak’s commercial director, Ian Tinker, explained:
“Brokers using InsideTrak will no longer need to access a separate system to retrieve search information. The customer's credit file is returned directly into the DealTrak platform, which provides complete oversight with an option to include the Equifax Risk Navigator (RN) score.
“Reviewing all of the information needed in order to make a lending decision within the same system, will undoubtedly save time, money, and hassle – resulting in a more efficient and streamlined workflow.”
InsideTrak’s data will provide customer details including name, personal and linked address history, summary of financial information – containing previous searches – electoral roll records and household associations. In addition, there will be a complete breakdown of credit account detail and public information, including any county court judgements (CCJ).
Today’s launch marks the first phase of the InsideTrak development. A forthcoming customisable ‘rules engine’ will enable users to establish the parameters by which proposals are sent to appropriate lenders.
DealTrak’s F&I platform is currently used in over 1,100 dealerships across the UK, with in excess of 3.6 million proposals sent through the interface each year.