Gateway One Lending & Finance Delivers New Products Faster, Reduces Risk, and Drives Down Auto Loan Origination and Servicing Costs
 
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Gateway One Lending & Finance Delivers New Products Faster, Reduces Risk, and Drives Down Auto Loan Origination and Servicing Costs

Gateway One Lending & Finance is a leader in the indirect auto finance marketplace, servicing prime to super-prime customers and dealers in more than 40 states. Gateway One has been managing and servicing auto loans for more than 35 years and was formed with the sole focus of originating indirect auto assets that exceed market expectations.

 
 

 
 

Challenges

A word from Gateway One Lending & Finance

  • “Oracle Financial Services Lending and Leasing helps us get a financial decision back to dealers more quickly, so they can maintain the excitement and momentum of the car buying experience for their customers. We’ve also gained business agility, reduced risk, and cut total cost of IT ownership.” ‒ Todd Pierson, Chief Operating Officer, Gateway One Lending & Finance

  • Accelerate and automate auto loan origination and servicing processes to reduce risk and drive new revenue streams
  • Boost operational efficiency, drive down loan origination and servicing costs, improve collection effectiveness, and reduce revenue leakage
  • Enable the company to effectively use customer experience as a market differentiator
  • Improve business agility and accelerate time to market for new auto finance products
  • Ensure compliance with increasingly complex regulations, including Consumer Financial Protection Bureau requirements
  • Standardize multiple platforms to reduce IT complexity and costs

Solutions

Oracle Product and Services

  • Implemented Oracle Financial Services Lending and Leasing and gained business agility with the solution’s flexible and extensible credit scoring and loan-pricing tools
  • Improved data integrity, simplified IT training, and reduced IT complexity and management costs associated with maintaining multiple platforms—thanks to a solution that provides both loan origination and servicing capabilities
  • Supported dramatic company growth, from US$400 million in 2011, to US$1.2 billion in 2012, and streamlined regulatory compliance with the robust and scalable platform
  • Accelerated time to market for new products, capitalized on emerging opportunities, and opened new revenue streams, using the solution designed for the auto finance industry
  • Improved ability to make more informed credit decisions, using the solution’s analytical and behavior-scoring capabilities, which have reduced risk related to nonperforming loans
  • Automated and standardized funding processes and implemented an interface with DealerTrack Digital Services for data entry and verification to boost operational efficiency, drive down loan origination and servicing costs, improve collections effectiveness, and reduce revenue leakage
  • Allowed the finance company to effectively use technology as a differentiator, especially around an enhanced customer experience, in an increasingly competitive auto loan financing market
  • Delivered faster responses to auto dealers, strengthening relationships and helping them to accelerate and simplify the auto financing process

Why Oracle

Gateway One Lending & Finance first deployed Oracle Financial Services lending solutions in 2007 and has been using Oracle solutions for the past 15 years. “Oracle understands the auto finance space and the challenges we were going through. We conducted a gap analysis of nearly 40 companies and believe that Oracle brings the best overall value proposition,” said Todd Pierson, chief operating officer, Gateway One Lending & Finance. “We wanted to partner with a company that wasn’t just building a product but building a solution, and Oracle does that. It delivers an origination and servicing solution in a single platform—reducing costs and complexity and delivering a more seamless customer experience.”