VINtek Recognizes Pennsylvania Department of Transportation with its Excellence in Paperless Title Processing Award
PHILADELPHIA, PA (July 29, 2013) — VINtek, a provider of collateral management services, electronic lien and title (ELT) services and direct auto finance processing for automotive lenders, has presented the Pennsylvania Department of Transportation Bureau of Motor Vehicles (PennDOT) with its Excellence in Paperless Title Processing Award. The award was presented on July 22 during a presentation ceremony held at PennDOT’s headquarters in Harrisburg, Pennsylvania.
ELT is an environmentally friendly and cost effective program that enables state DMVs to send an electronic title to an automotive lender via an ELT service provider instead of a paper title. PennDOT initiated ELT in 1997 and most, if not all lenders in the state now participate in the program. Since inception, PennDOT has processed more than 7 million transactions with VINtek which would have otherwise been handled on a paper basis.
PennDOT has excelled in the following areas in terms of ELT services performance and leadership, according to VINtek:
- Innovation in program management
- Reliability of the data exchange process between PennDOT and ELT service providers supporting high transaction volumes
- Quick responses to lienholder or ELT service provider customer support inquiries, as well as process improvement recommendations
- Knowledge of PennDOT staff in the processes and policies of ELT
- Commitment of the PennDOT ELT support staff to customer satisfaction
“We selected PennDOT for this recognition due to their long history of demonstrated performance excellence in the ELT program on an operating and legislative level,” said Larry Highbloom, president of VINtek. “For more than 16 years, the Bureau of Motor Vehicles in Pennsylvania has forged ahead in removing paper from the titling process. In 2008, Pennsylvania became the first state in the country to move most, if not all lienholders to the paperless PennDOT ELT program. This move was made due to the confidence in the reliability and performance of the PennDOT ELT program. Since Pennsylvania’s move to full lienholder participation in their ELT process, seven other states have followed their lead and passed similar legislation requiring a majority of lienholders to participate in ELT. We value the support PennDOT has provided for ELT and recognize the effort they have put toward operating such a high quality program.”
In its 23rd year, Philadelphia-based VINtek provides automotive collateral management services, ELT and direct auto finance solutions for banks, credit unions and other auto finance institutions. Through its offices in Philadelphia, Las Vegas, Sacramento, Calif., and Troy, Mich., VINtek enables lenders to increase customer satisfaction and operating efficiency while simultaneously decreasing costs and errors associated with automotive 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.