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7/12/2010 - Open Dealer Exchange and Teledata Communications, Inc. (TCI) Announce Agreement for Integration

Open Dealer Exchange, LLC has announced its agreement with Teledata Communications, Inc. (TCI) to provide direct integration services with the loan origination system provider, allowing partnering finance sources to return credit decisions directly into a dealership’s dealer management system.

TROY, MICHIGAN – Open Dealer Exchange, LLC has announced its agreement with Hauppauge, New York-based Teledata Communications, Inc. (TCI) to provide direct integration services with the loan origination system (LOS) provider’s DecisionLender solution. The agreement allows partnering finance sources to receive credit application data and return credit decisions directly into a dealership’s dealer management system (DMS).

TCI provides affordable, web-based loan origination and automated decision lending software that accelerates the loan approval process for a lender. DecisionLender is provided as a Software as a Service (SaaS) solution designed to simplify the LOS process for automotive finance companies. The service is utilized by more than 180 financial institutions, including banks, credit unions and finance companies throughout the U.S.

“Allowing dealerships to send credit applications for a car loan directly from the DMS creates a streamlined process between the dealership’s system-of-record and TCI’s lender clients,” stated Marty Zwolan, Vice President of Sales and Marketing for Open Dealer Exchange.

“The interface with Open Dealer Exchange connects all the dots in the lending process including the car dealer’s DMS, TCI’s DecisionLender and the lender’s core processing system,” said Bill Nass, President of TCI. “Because all of the software systems are integrated, errors are eliminated, costs are reduced and loans are processed faster. All of these factors provide a substantial competitive edge in a highly competitive industry.”

About Teledata Communications, Inc. (TCI)

TCI was founded in 1982 and is based in Hauppauge, NY. The company offers a wide range of solutions for the credit granting community that include credit report retrieval, connections to key databases, tenant and employment workflow automation as well as its leading Web-based loan origination and decisioning solutions. TCI has over 3,800 customers utilizing its reliable ASP-based solutions. More information is available at www.tcicredit.com. or www.tcidecisionlender.com.


Media Contact

Blair Ciecko

Celtic Marketing

708.246.4946

BlairC@celticchicago.com

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About Open Dealer Exchange, LLC
Open Dealer Exchange enables providers and finance sources to embed their offerings into point-of-sale (POS) systems used by automotive dealers to conduct business both in the showroom and the business office. A joint venture between Automatic Data Processing, Inc. (ADP) and The Reynolds and Reynolds Company, Open Dealer Exchange exists to improve the overall F&I process within automotive retailers throughout the United States and Canada.