Teres Solutions Indirect Lending Software Adds Support for DealerTrack eContracting Product

AUSTIN, Texas--(BUSINESS WIRE)--Aug. 10, 2005--Teres Solutions, Inc. today announced the integration of its industry leading SAIL Indirect lending software solution with the DealerTrack(TM) platform's eContracting product. The move will allow credit unions around the country to electronically process and fund auto loan contracts submitted through the DealerTrack network, while reducing loan risk and increasing efficiencies.

One of the biggest challenges credit unions encounter when funding auto loans is risk resulting from discrepancies between loan application pre-approvals and actual loan contracts. Until now, such risk was considered part of the process. But with the integration between Teres Solutions' software and DealerTrack's eContracting product, this type of exposure is greatly reduced. Now Teres Solutions' credit union customers can automatically validate and verify auto loan contracts before they're ever signed. In addition, using SAIL Indirect lending software with eContracting support makes the credit union relationship more attractive to dealerships, as it significantly expedites the financial aspect of the transactions and completes the funding process -- often as fast as the same day.

"With Teres Solutions' automation of the entire indirect auto loan process and its support of the DealerTrack platform's eContracting capability, we're not only able to pass efficiency savings on to Credit Union of Texas members, but we're also able to greatly minimize risk associated with these loans," said Jeff Guerney, CEO of Credit Union Services, Inc. "This is a big benefit for both our organization and the members that rely on us."

In addition to minimizing auto loan risk, Teres Solutions' integration with the DealerTrack platform's eContracting product also provides additional efficiencies to credit unions. For example, it eliminates the need for data re-entry of contract information by electronically bringing the information into the core system. This not only increases efficiencies but also reduces data entry errors. Teres Solutions also allows credit unions to electronically store their copy of authoritative e-contract in existing imaging systems, such as OnBase, making the entire loan process smooth and efficient.

Teres Solutions' SAIL software products are used by some of the nation's most successful credit unions to automate their indirect lending processes. The SAIL software products significantly reduce the time it takes to review loan applications, request and review credit reports, enter data into core systems, make lending decisions and quickly respond to dealers and members. With SAIL, not only is the lending process more efficient, but existing staff can be more productive by focusing on improving yields through new member acquisition or sales of add-on services. Key features of the SAIL family of products include:

    --  Integration with DealerTrack's finance platform for automobile
                    dealerships
            
                --  Automated lending decisions through the SAIL Autopilot module
            
                --  Sophisticated real time reporting
            
                --  Integration with major credit union core systems, including
                    Summit, Symitar and ULTRADATA, Users, and XP
            
                --  Browser-based technology for rapid deployment and
                    maintainability; while hosted from within the credit union's
                    infrastructure for greater security and control
            
                --  Intuitive user dashboard
            
                --  Roles-based security features
            
                --  Automated credit checking
            
                --  Application history lookup
            
                --  Federal regulation compliance
            
                --  Automatic dealer response generation
            
                --  Direct forms integration with almost any form including
                    Loanliner forms as well as custom forms.
            
                --  Integration with NADA
            
                --  Integration with Auto Financial Group for balloon loans
            
                --  Integration with Loanliner.com for member & non member direct
                    loan origination
            

For more information Teres Solutions and its SAIL software products, visit http://www.teressolutions.com/.

About Teres Solutions, Inc.

Teres Solutions, Inc. was founded in 2002 for the express purpose of developing direct and indirect lending software products that define the state-of-the-art for the financial institution market. Its Software Application for Integrated Lending (SAIL) direct and indirect lending products allow financial institutions to streamline lending decisions, increase revenue through enhanced loan application processing efficiency, improve dealer and member relations, and augment loan tracking and reporting capabilities. Teres Solutions has been recognized as a Microsoft certified partner with accredited core competencies. Visit http://www.teressolutions.com/ for more information on Teres Solutions, its products and services.

SAIL is a trademark of Teres Solutions, Inc. All other company and product names mentioned are used only for identification and may be trademarks or registered trademarks of their respective companies.

Teres Solutions, Inc., Austin
Bruce Callen, 512-218-4200
info@teressolutions.com
or
Virtual PR Director, LP
Karl Scholz, 512-493-0909
karl.scholz@virtualprdirector.com

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