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.