Ryzn Enterprise System Inc.

1-888-747-RYZN (7996)

Toll Free U.S./Canada

Automotive Loan

Client Profile

Sub-prime lender of automotive retail title loans

Client Location, Areas Served

South West United States serving selected U.S. states

Conversion From

Complete change over from auto dealer specific software

Problems to Resolve

The previous auto loan software was designed for dealer sales and inventory management and was not specific to vehicle finance. As a result, there were numerous shortcomings:

  • Posting calculation errors
  • No live amortization schedule
  • No residual interest or short payment tracking
  • No interest income accrual
  • Minimal loan and vehicle asset detail
  • No ability to post principal only payments
  • No ability to report to credit bureau
  • Hold back to future growth potential

Stated Business Needs

  • Credit reporting
  • Late fee, NSF and Repossession rules by state jurisdiction
  • Vehicle Title, Insurance and Valuation tracking
  • Repossession and Auction activity tracking
  • Collection and Legal/In Court tracking
  • Delinquency tracking
  • Ability to take on more loan contracts and expand the portfolio

Ryznware™ Software Benefits

The change over process and entry of all historical loans provided customer with the opportunity to correct prior errors, reconcile each account and obtain a more detailed and accurate transaction basis for each contract. All stated business needs were addressed with program tailoring to suit client’s current procedures relating to their unique dealer agreements in place. In addition, vehicle movement, repossession and legal activities were modeled according to their current procedures and made compliant with governing state laws.

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