Open Dealer Exchange and Westlake Financial Services Announce Agreement to Improve Vehicle Buying Process for Auto Dealers

Agreement allows for credit application integration directly within the dealership management system (DMS) during the vehicle buying process

TROY, MI (PRNEWSWIRE) August 3, 2010 -- Open Dealer Exchange, LLC has announced its agreement with Westlake Financial Services for credit application integration directly within the dealer's dealership management system (DMS). The partnership will streamline the dealers' workflow during the vehicle buying process and provide expanded capabilities in dealership inventory modeling.

Because of Open Dealer Exchange's direct access to Automatic Data Processing, Inc. (ADP) and Reynolds and Reynolds DMS systems, Westlake Financial Services and their dealership customers will now be able to communicate directly via the dealer's DMS during the credit application process, including credit decisions and dealer inventory tracking. This will allow greater dealer efficiency in determining which vehicle in their inventory is best suited for each customer.

"Ensuring a secure environment for the exchange of accurate data between a dealership and finance source is critical to both parties in completing swift and successful transactions," said Marty Zwolan, Vice President of Sales and Marketing for Open Dealer Exchange. "Both Westlake Financial Services and its dealer network will benefit tremendously from Open Dealer Exchange's innovative technology solutions, and increase their competitive advantage in the marketplace."

"Westlake Financial Services and Open Dealer Exchange share a similar philosophy when it comes to helping dealerships," says Ian Anderson, President of Westlake Financial Services. "Our companies both believe in using technology as a tool to help dealers become more efficient and more profitable."

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About Westlake Financial Services

Westlake Financial Services is an internet based, privately held finance company that specializes in the acquisition and servicing of sub-prime to near-prime automotive retail installment contracts. Headquartered in Southern California, Westlake originates indirect retail installment contracts through a network of over 9,000 new and used car dealers throughout the United States. All collections and servicing are performed in-house from its central facility located in the Mid-Wilshire area of Los Angeles.

For more information on Westlake Financial Services, please visit www.westlakefinancial.com.