DeFi
F&I Sentinel Partners with defi SOLUTIONS to Help Joint Customers Meet Their Compliance Needs
F&I Sentinel on Tuesday finalized a partnership with defi SOLUTIONS to increase efficiency and accuracy through automation while improving F&I product compliance for auto finance companies, dealers and product suppliers.
Through this partnership, defi XLOS and defi ORIGINATIONS customers can benefit from the advantages of F&I Sentinel’s CITADEL platform, including:
— Access to its repository of over 112,000 compliant F&I products, ensuring that only compliant products are financed
— A simplified financing process for better dealer relationships
— Integration of CITADEL data into the financing company’s contract acceptance business rules to reduce financing errors
— Access to the full F&I product form for each product financed in the contract
F&I Sentinel and defi SOLUTIONS noted that a patchwork of state and federal regulations means auto finance companies are held accountable for non-compliance at any phase of an F&I product’s lifecycle.
The companies said the ever-expanding array of F&I products offered during the car purchase process, from vehicle maintenance contracts to GAP waivers to vehicle value protection agreements, may increase finance companies’ compliance risk for aftermarket products financed through the installment contract.
F&I Sentinel and defi SOLUTIONS have emphasized that automation is essential to minimize human errors and mitigate compliance risks, which is why they are now working together.
“Today’s ever-changing regulatory landscape demands dynamic compliance, much more than just standard controls and processes, consultants or technology automation,” said Stephen McDaniel, CEO of F&I Sentinel, in a press release.
“The partnership with defi reinforces our commitment to the industry to deliver proactive, technology-enabled managed compliance solutions that bring transparency, efficiency and clarity throughout the F&I product lifecycle,” McDaniel continued.
Tom Allanson, CEO of defi SOLUTIONS, added: “We understand the challenges and complexities that lenders face and are committed to providing them with the best solutions and services that meet their needs and expectations.
“Through this partnership with F&I Sentinel, our customers can reduce their compliance risks, costs and burdens while improving their overall performance, reputation and customer satisfaction through the technology and services we provide,” continued Allanson.