defi SOLUTIONS Announces New Partnership with F&I Sentinel to Bring Comprehensive After-Market Finance and Insurance Compliance to Lenders
16 July 2024 - 9:01PM
Business Wire
Two industry leaders partner for the good of
the lending industry.
defi SOLUTIONS, the leading provider of originations, servicing,
and managed servicing software and services, is pleased to announce
the addition of F&I Sentinel to the defi family of providers
partnering to improve fintech for the lending industry.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240716357424/en/
Tom Allanson, CEO defi SOLUTIONS (Photo:
Business Wire)
F&I Sentinel provides technology-enabled risk management
solutions for the full lifecycle of automotive finance and
insurance products (F&I). More than 100 lenders, including six
of the top 10 auto lenders in the U.S., rely on F&I Sentinel
solutions to gain efficiencies, and mitigate the reputational,
litigation, financial, and business risks inherent in the
origination, servicing, and cancellation of F&I products.
The auto finance industry regulatory and compliance landscape
continues to evolve, as regulators hold auto lenders accountable
for non-compliance during any phase of an F&I product’s
lifecycle. The increase in number and variety of F&I products
offered during the car buying process (sometimes referred to as
voluntary protection products) – vehicle service contracts, GAP
waivers, vehicle value protection agreements – increases a lender’s
risk and responsibility.
The integration with F&I Sentinel’s CITADEL® Platform offers
defi XLOS and defi ORIGINATIONS clients finance and insurance
aftermarket form validation and product regulation expertise.
Onboarding is quick and gives lenders access to F&I Sentinel’s
repository of current and compliant aftermarket forms to ensure a
consistent and accurate form selection process for various loan
product types.
“F&I Sentinel provides compliance peace of mind and loan
portfolio tools that will help our lenders avoid the potentially
high cost of not knowing and meet legal and ethical obligations,”
said Tom Allanson, CEO, defi SOLUTIONS. “We’re happy to have them
onboard.”
“In today’s complex regulatory environment, automotive lenders
must implement the right automation solutions that deliver
efficiencies while protecting themselves and their customers from
non-compliant F&I products,” said F&I Sentinel CEO Stephen
McDaniel. “Our partnership with defi underlines our ongoing
commitment to becoming the automotive finance industry’s hub for
the efficient and compliant origination and servicing of F&I
products.”
About defi SOLUTIONS
defi SOLUTIONS partners with captives, banks, credit unions, and
finance companies to help lenders transform their operations. The
company’s comprehensive suite of end-to-end originations and
servicing solutions, together with technology-enabled managed
servicing, are flexible, configurable, and scalable to address the
ever-evolving needs of lenders and borrowers. defi SOLUTIONS has
the backing of Warburg Pincus, Bain Capital Ventures, and
Fiserv.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240716357424/en/
Charlie Lewis Dir, Communication (682) 717-8481
clewis@defisolutions.com