Westlake rolls out nationwide e-contracting

Westlake Financial Services has announced the nationwide rollout of its e-contracting automotive loan origination solution in 50 US states through DealerCenter. The e-contracting solution allows both independent and franchised dealers to sign contracts electronically, upload supporting documentation, and instantaneously push all information to Westlake as soon as the loan package is complete.

Westlake rolls out nationwide e-contracting

Oct 13, 2017

Westlake Financial Services has announced the nationwide rollout of its e-contracting automotive loan origination solution in 50 US states through DealerCenter. The e-contracting solution allows both independent and franchised dealers to sign contracts electronically, upload supporting documentation, and instantaneously push all information to Westlake as soon as the loan package is complete.

UK regulatory

Everything you need to know to make your e-contracts legal, enforceable and compliant in the United Kingdom Complete the form below to download your copy now Technology has made signing on the dotted line for a contact much easier – but does replacing traditional pen and paper with an eSignature and online processes risk creating compliance problems? What about regulatory requirements? And how do companies make sure that an electronic contract is enforceable if challenged? Market leading technology supplier Dealflo answers all these questions and more in a concise guide to how e-contracting systems work. Financial services companies have often fought shy of automation, on the grounds that it can increase risk, but a properly thought out end-to-end agreement automation solution reduces risks with processes that are compliant, legal, protect against fraud, and result in fully enforceable contracts. Individual elements, such as eSignature, deliver efficiency savings, but it is only by adopting an integrated solution that address all stages of the contract process that organisations take out the ‘friction’ and see the biggest benefits: reduced operating costs and a better customer experience. eSignature is a key element, and the Dealflo guide takes readers step-by-step through the legal framework created by the EU’s eIDAS regulation and the three types of eSignature. But just as important is the enforceability of any e-contract - since 2008, financial services companies have paid over $321 billion in fines, mostly because of an inability to prove that agreements were sold fairly and compliantly. The guide sets out how, with an automated system, lenders can capture all the information about what the agreement contained, what the customer saw, what actions they took, who that customer was, and then store it all in a single place and demonstrate that it has not changed or been interfered with since it was first compiled. Not only that - a fully automated agreement process can support companies to meet anti money laundering and data protection requirements, by ensuring evidence of identity is collected throughout the process and is verified through Know Your Customer and Prove Your Customer verification checks. The guide has practical advice explaining exactly how evidence should be created, managed and stored so as to ensure it is compliant and creates an enforceable digital agreement - damaged, incomplete or tampered with evidence may be inadmissible in court or when challenged. Through end-to-end automation financial services companies can automate their processes, increase revenue, decrease operating costs, and reduce risk in the process, while also offering significant enhancements to the customer experience. Order now

UK regulatory

Dec 07, 2017

Everything you need to know to make your e-contracts legal, enforceable and compliant in the United Kingdom Complete the form below to download your copy now Technology has made signing on the dotted line for a contact much easier – but does replacing traditional pen and paper with an eSignature and online processes risk creating compliance problems? What about regulatory requirements? And how do companies make sure that an electronic contract is enforceable if challenged? Market leading technology supplier Dealflo answers all these questions and more in a concise guide to how e-contracting systems work. Financial services companies have often fought shy of automation, on the grounds that it can increase risk, but a properly thought out end-to-end agreement automation solution reduces risks with processes that are compliant, legal, protect against fraud, and result in fully enforceable contracts. Individual elements, such as eSignature, deliver efficiency savings, but it is only by adopting an integrated solution that address all stages of the contract process that organisations take out the ‘friction’ and see the biggest benefits: reduced operating costs and a better customer experience. eSignature is a key element, and the Dealflo guide takes readers step-by-step through the legal framework created by the EU’s eIDAS regulation and the three types of eSignature. But just as important is the enforceability of any e-contract - since 2008, financial services companies have paid over $321 billion in fines, mostly because of an inability to prove that agreements were sold fairly and compliantly. The guide sets out how, with an automated system, lenders can capture all the information about what the agreement contained, what the customer saw, what actions they took, who that customer was, and then store it all in a single place and demonstrate that it has not changed or been interfered with since it was first compiled. Not only that - a fully automated agreement process can support companies to meet anti money laundering and data protection requirements, by ensuring evidence of identity is collected throughout the process and is verified through Know Your Customer and Prove Your Customer verification checks. The guide has practical advice explaining exactly how evidence should be created, managed and stored so as to ensure it is compliant and creates an enforceable digital agreement - damaged, incomplete or tampered with evidence may be inadmissible in court or when challenged. Through end-to-end automation financial services companies can automate their processes, increase revenue, decrease operating costs, and reduce risk in the process, while also offering significant enhancements to the customer experience. Order now

How DSG Group managed the transition to e-contracting

Leading car finance broker DSG Financial Services originally began looking at automated e-signing and verification system as part of a move to set up its own lending function alongside its existing broker offering. “We wanted to make sure the lending process was as efficient as possible, given that lenders and borrowers are increasingly moving to online operations. Our first thought was to implement an e-sign function. But once we evaluated Dealflo’s solution, we saw we could do a lot more, by creating a multi-lender facility which automates processes end-to-end and which would deliver significant additional benefits,” explains DSG’s CEO Richard Hoggart.

How DSG Group managed the transition to e-contracting

Jan 20, 2017

Leading car finance broker DSG Financial Services originally began looking at automated e-signing and verification system as part of a move to set up its own lending function alongside its existing broker offering. “We wanted to make sure the lending process was as efficient as possible, given that lenders and borrowers are increasingly moving to online operations. Our first thought was to implement an e-sign function. But once we evaluated Dealflo’s solution, we saw we could do a lot more, by creating a multi-lender facility which automates processes end-to-end and which would deliver significant additional benefits,” explains DSG’s CEO Richard Hoggart.