Crescent Bank & Trust and Open Dealer Exchange Announce Agreement for Integration

Crescent Bank & Trust and Open Dealer Exchange, LLC announce agreement for credit application integration to give lender a competitive edge over other finance sources.

TROY, MI (PRWEB) November 29, 2010 -- Open Dealer Exchange, LLC has announced its agreement with Crescent Bank & Trust (CB&T) to integrate the lender directly within the dealer management system (DMS) during the loan approval process.

Headquartered in New Orleans, Louisiana, Crescent Bank & Trust is a leading indirect subprime lender doing business from more than 20 offices across the country. As part of their growth strategy, CB&T is committed to serving their dealer customers by creating a wide array of lending programs. Integration with Open Dealer Exchange is complementary to their indirect auto lending strategy and offers dealers an optimal avenue to send and receive credit applications, all within their DMS.

"Serving the needs of our dealers is such a critical part of our business," said Donald Howie, Senior Vice President of Auto Lending for C&T. "Our new relationship with Open Dealer Exchange will help streamline the F&I process and make it easier for dealers to do business with CB&T."

The connection through Open Dealer Exchange will allow CB&T to receive credit applications and return credit decisions directly to the dealer's system-of-record, or DMS, eliminating the need for the dealer to use a third party portal during the loan approval process. With Open Dealer Exchange's unique value proposition, CB&T will be a step ahead of their competitors.

"Our unique model puts CB&T right within the dealer's DMS," stated Marty Zwolan, Vice President of Sales and Marketing for Open Dealer Exchange. "This gives them a significant advantage when it comes to look-to-book ratios, and will help them reduce costs internally."

Open Dealer Exchange provide automotive finance sources the ability to lower costs and increase speed to market by offering a one-stop, standards-based integration into a dealership's DMS.

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About Crescent Bank & Trust

Crescent Bank & Trust is a privately owned corporation and has been providing a credit alternative to higher risk clients, allowing them access to affordable auto financing, since 1991. Crescent Bank and Trust is based in New Orleans and has offices in Louisiana, Texas, Ohio, New York, Colorado, Florida, Michigan, Illinois and Oklahoma. Crescent Bank & Trust is active in bulk purchases of subprime auto loans as well as indirectly through a network of over 3000 dealerships. More information can be found at www.cbtno.com or by calling 866-208-8288.