Dealers can increase new customer sales opportunities in the service lane
Farmington Hills, MI – August 25, 2020 – 700Credit, LLC, the automotive industry’s leading provider of credit reports, compliance solutions, prescreen and pre-qualification products, today announced it has integrated its prescreen solution with the Reynolds XtreamService data mining platform to help dealers identify new customer sales opportunities.
XtreamService analyzes the profiles of a dealer’s entire customer database, considering transactional, demographic, and behavioral data to identify customers likely to buy regardless of their equity position. Prescreen data expands the number of customers for whom quotes can be provided by filling in the gaps on customers who did not purchase the vehicle at the store. The data provides amount owed and the customer’s FICO score, enabling equity and payment estimates to be calculated accurately so a valid offer can be made.
“Reynolds inclusion of our prescreen solutions in XtreamService provides dealerships visibility into customer’s equity position and FICO score without posting a hard inquiry on their credit file,” noted Ken Hill, Managing Director of 700Credit. “Expanding the number of offers that can be made in the service lane to conquest customers results in net new customers for the dealership.”
“The addition of the prescreen solution from 700Credit adds substantial depth to XtreamService,” said Jon Strawsburg, vice president of product planning for Reynolds and Reynolds. “Being able to provide estimates for customers who did not necessarily buy at their store gives dealers an opening to reach people who might otherwise slip through the cracks – and who could benefit from knowing all options available to them.”
700Credit is the automotive industry’s leading provider of credit reports, compliance products and prescreen services. The company’s product and service offerings include credit reports, dealer-facing prescreen and consumer-facing pre-qualification platforms, OFAC compliance, Identity Verification solutions, risk-based pricing, score disclosure and adverse action notices, synthetic fraud detection, income verification and more. 700Credit’s goal is to provide its clients with the highest quality data in a compliant framework in the most efficient manner possible. For more information about 700Credit, visit 700credit.com.
Reynolds and Reynolds is a leading provider of automobile dealership software, services, and forms to help dealerships deliver better business results and transform the customer experience. The company is headquartered in Dayton, Ohio, with major U.S. operations in Houston and College Station, Texas, and Celina, Ohio, as well as operations in Canada, in the U.K., and Europe. (www.reyrey.com)
Susan Burke, 700Credit
Thomas Schwartz, Reynolds and Reynolds