VINtek Expands Relationship with Santander Consumer USA Inc.

PHILADELPHIA — VINtek, a provider of automotive collateral management services and direct auto finance solutions for banks, credit unions and other automotive finance lenders, announced an agreement to manage vehicle titles for Santander Consumer USA Inc., (“SC USA”) resulting from SC USA’s acquisition of the indirect auto loan portfolio of Texas-based Triad Financial.

Santander Consumer USA’s newly expanded portfolio of auto loans will be managed in VINtek’s VINtekTIME v3.0, a Web-based automotive collateral management system. The system simultaneously processes paperless automotive titles, also known as Electronic Lien and Title (ELT), and paper titles and other collateral in one unified collateral management system. VINtekTIME includes features such as a workflow and task queuing system with timers, due dates and alerts; the integration of Department of Motor Vehicle business rules with document image and file hosting; and expanded user profile configuration utilities.

Dallas-based Santander Consumer USA, a nationwide lender with a $7 billion non-prime auto portfolio and the owner of the Drive®, RoadLoans® and Santander Auto Finance brands, specializes in offering financing solutions to borrowers with limited or below-average credit scores. The company transitioned new business title administration responsibilities to VINtek in 2008.

“The decision to transfer the collateral securing the Triad auto loan portfolio from the previous title administration provider to VINtek was an easy one,” said Carolyn Prater, vice president of originations for SC USA. “VINtek’s track record of delivering better customer service, higher title perfection rates, lower processing exceptions and enhanced technology has been incredibly valuable to Santander Consumer USA as we provide automotive financing to non-prime borrowers. It made sense to build on the relationship.”

“VINtek is pleased to have been chosen by Santander Consumer USA to manage the collateral securing these newly acquired assets,” said Larry Highbloom, president of VINtek. “Maintaining high lien perfection rates not only mitigates risk in a volatile environment but also provides better customer service for dealers and consumers during account termination collateral release processing.”

About Santander Consumer USA
Santander Consumer USA is a leading company in the automotive finance sector, whose core business is indirect, direct and third-party originations and servicing of auto loans. With its Drive® (www.drivefinancial.com), Santander Auto Finance (www.santanderauto.com) and RoadLoans® (www.roadloans.com) brands, SC USA’s finance programs cover the entire non-prime spectrum. The company has an $8.67 billion non-prime auto portfolio, nearly 12,000 dealer partners in all 50 states, and retail installment contracts with more than 444,000 customers. The company began originating loans in 1997, and is headquartered in Dallas. The company is owned by Banco Santander (NYSE: STD – News), a leading international commercial and retail bank with 91 million customers served by nearly 14,000 branches in its main markets.

About VINtek
Founded in 1990, Philadelphia-based VINtek provides automotive collateral management services and direct auto finance solutions for banks, credit unions and other auto finance institutions. VINtek helps lenders increase customer satisfaction and operating efficiency while simultaneously decreasing costs and errors associated with collateral management through the introduction of innovative consumer loan servicing technologies. VINtek holds two U.S. patents on automotive lien processes and is the recipient of numerous industry awards for its processing services. For more information, visit www.vintek.com.