J.D. Byrider Streamlines Non-prime Vehicle Financing
Process with eOriginal
eOriginal's digital transformation of J.D. Byrider's processes improves customer experience, enables post-signature asset management
BALTIMORE and INDIANAPOLIS — eOriginal, Inc., the experts in digital transactions, announced today that J.D. Byrider, a Carmel, Ind.-based leading used car sales and finance enterprise, has adopted a digital financial transaction management solution for its non-prime automotive loans. eOriginal’s digital transformation of J.D. Byrider’s processes improves the customer experience and enables post-signature asset management.
J.D. Byrider offers customers a safe and reliable car with simple on-site financing, affordable payments and low-cost car care. The company approached eOriginal in need of a solution that empowered them to go beyond simple electronic signature functionality to support asset sales and securitization, while housing the assets in a secure vault.
“eOriginal’s implementation included a seamless integration with our current systems and allows for a customer friendly, digital loan process that increases our end-to-end efficiency,” said J.D. Byrider’s Director of Strategic Initiatives, Michael Onda. “As a result, we have shortened the financing process, streamlined document control and transfer and reduced overhead costs. The solution has been a game-changer for us.”
A major national bank serves as the financial custodian and can seamlessly manage the collateral among J.D. Byrider’s various financing sources. By managing the process digitally, the transfer of loans moves easily through the process, while still maintaining their security and authenticity.
With its new digital financial transaction solution, J.D. Byrider has decreased shipping costs, enhanced compliance and optimized secondary market asset management, such as collateralization and securitization.
“The vehicle finance industry has been a leader in the adoption of electronic contracting solutions to extend existing loan origination systems, dealer management systems and portfolio management systems,” said eOriginal President and CEO Stephen Bisbee. “We expect this trend to continue to grow and we remain committed to being a leader in this space.”
About J.D. Byrider
Founded in 1989, J.D. Byrider is the nation's leading used car sales and finance enterprise. The company was founded to serve customers with special auto financing needs and to ensure that they receive the same quality service in every J.D. Byrider dealership. With more than one million consumers matched to quality, affordable vehicles and a franchise system servicing more than $1 billion in retail contracts, the company continues its focus on reliability and customer satisfaction. Headquartered near Indianapolis in Carmel, Indiana, J.D. Byrider consists of 142 franchised- and 28 company-owned dealerships in 34 states. Visit www.JDbyrider.com to learn more.
About eOriginal, Inc.
Founded in 1996, eOriginal is the trusted expert in digital transaction management solutions, specializing in the post-execution management of financial asset documentation. eOriginal SmartSign® and eAsset® Management Services enable an end-to-end solution for fully electronic transactions that must be managed with the highest levels of security and compliance throughout their lifecycle. By treating every transaction as having assets that must be verifiably secure, legally compliant and enforceable, eOriginal provides its customers and partners with eCertainty®. For more information, please visit http://www.eoriginal.com. eOriginal®, eAsset®, eOriginal SmartSign® and eCertainty® are trademarks of eOriginal, Inc. and are registered in the United States or in other jurisdictions.