Tag Archive | "F&I Administration Solutions"

F&I Express and F&I Administration Solutions Form a Strategic Partnership to Create the First Electronic F&I Product Cancellation Process in the Industry


The integration of F&I Express and F&I Admin addresses the issues that have come forward in recent months about major problems lenders are encountering with aftermarket product cancellations. Express Recoveries, F&I Express’ eCancellation solution, helps solve the issues and moves the manual process to an electronic connection between lenders and providers, which allows for streamlined and compliant cancellations.

The Express Recoveries℠ platform from F&I Express enables lenders to submit F&I product cancellation requests directly and simultaneously to dealers and product providers. The integrated Express Recoveries/F&I Admin platform creates an electronic network that accelerates the processing and recovery of refunds for cancelled F&I products. In addition, full cancellation lifecycle reporting improves the ability of lenders to comply with the changing regulatory environment, and to better service their dealer and consumer customers.

Rich Apicella, GM of the Express Recoveries program at F&I Express explained, “Lenders require access to data from their product provider and dealer partners to fulfill their regulatory obligations for product cancellations. By offering an integrated platform, the F&I Express and F&I Admin team provides the tools and market transparency so that lenders, product providers and dealers can work together more efficiently to ensure consumers receive the product cancellation refunds they are entitled to.”

Lenders are held legally liable by state and federal regulators to process cancellations in a compliant and timely manner. The nation’s leading lenders who are using the Express Recoveries solution have authorized F&I Express to securely manage their cancellation process.

“We are very pleased to be the first to work with F&I Express to develop this electronic solution to a problem that has been in existence for many years,” said Kumar Kathinokkula, COO of F&I Admin. “Not only will this streamline the process and ensure lenders can deliver to their regulatory requirements, but this will also add significant efficiencies to our F&I product administrator customers.”

For more information, visit fandiexpress.com.

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SaaS or Build: Which Admin System Is Best for You?


For automotive F&I providers and administrators, information technology is the third largest expense after personnel and administrative costs. A majority of that cost goes toward the upkeep and maintenance of the core administration system(s) responsible for products, rates, dealers, contracts, claims and earnings management.

Given the central role that the administration system plays, and especially in circumstances where it has been internally developed by a few key individuals, it is perhaps not surprising that the system and its attendant functions are sometimes viewed as a competitive advantage.

To deliver a competitive advantage, an administrative system needs to provide at least one of the following:

  • Support a product or solution that no one else can offer or
  • Enable support for a product at a lower effort and/or cost than others.

When Legacy Loses Uniqueness

Unfortunately, while the internally developed system may once have delivered on these requirements, it becomes increasingly more difficult and expensive for the development team to keep the uniqueness going. In fact, as more products and product permutations have hit the market, most teams have become consumed with keeping up with basic product requirements; maintaining the uniqueness that they originally delivered becomes secondary. In other words, that thing that set them apart at the start is lost in the effort to keep up with the competition.

F&I business priorities today require administrators to provide a complete portfolio of F&I products through a diverse set of sales channels with flexible and customizable accounting, commission and reinsurance programs. The greatest challenges to legacy systems are that they can only handle one or two products, can only support a few point-of-sale tools (e.g. menus) and have prohibitive modification costs for even simple changes.

In addition, continuing to support in-house systems requires considerable overhead, including salaries, benefits, building space, application licenses and liability. Moreover, continuing to maintain a custom administration system forces businesses to continually mitigate the key-man and technology obsolescence risks.

Emergence of SaaS

In recent years, many industries have taken advantage of the rapid commoditization of computing and have moved to outsourced or Software as a Service (SaaS) solutions for their technology needs. There is no debate as to if SaaS solutions are the right step, but of how and when to adopt such solutions. Adopting SaaS solutions allows providers to set service level standards for vendors, thereby enabling them to focus on managing factors that provide the true competitive edge: products, business processes, branding, data and partnerships.

SaaS solution providers are usually focused on one thing: the software. They have more than one customer and can therefore maintain a much larger development team than any individual provider, so they are able to keep up with business demands and often also get “ahead of the curve” when it comes to connectivity and innovative solutions.

As such, when adopting a SaaS solution, providers must look for a system that will allow for management of a complete product portfolio, retain those business processes that give them a competitive advantage, allow open access to their data and build high-performance partnerships.

It is extremely tough to finance an internal development team that can commit to all of this and deliver it in a timely manner. By adopting the right SaaS solution, a provider will gain a competitive advantage through a system that can support all of its business needs now and into the future. In addition, it enables the team to focus on true business priorities as opposed to technology challenges.

What can SaaS Do for Me?

Here is what product providers should look for in a SaaS provider:

  • A system that allows for management of a complete F&I product portfolio
  • A system that is highly configurable, allowing you to build a competitive advantage through innovative pricing, product combinations and coverage
  • A system that is flexible and robust reporting and business intelligence solutions — keep in mind that the data is yours and you should have easy access to it at all times
  • A system that provides connectivity to menus, DMS systems, credit card providers, inspection companies and other partners
  • A company that gives you the attention and support you need, not just through the implementation but also once you go live

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APT’s Pazik to Helm Agent Summit Tech Panel


LAS VEGAS — Organizers of Agent Summit have announced that Randy Pazik, president of Accelerated Profit Technologies, will lead a panel dedicated to new technology at the event, which will be held May 9–11, 2016, at the Venetian Palazzo Las Vegas.

“The flood of new technology into the dealer and agent segments can at times be overwhelming, but it can’t be ignored,” said David Gesualdo, show chair and publisher of Agent Entrepreneur andF&I and Showroom. “We are counting on Randy and his team to help us sort through the wealth of new developments and focus on the ones that drive F&I product sales.”

The panel, “Technology on the Move — New Horizons” will begin at 4:45 p.m. on Monday, May 9. Pazik will be joined by Thomas Elliott, executive vice president of StoneEagle; Kumar Kathinokkula, COO of F&I Administration Solutions; Tony Luciano, vice president of information technology for Allstate Dealer Services; Jim Maxim Jr., president and CEO of MaximTrak; and Carrie Profaizer, vice president of information technology and division CIO for Protective Asset Protection.

Pazik pledged to challenge his panelists to reveal not only what they are working on and have brought to market but how their solutions are performing in the real world.

“What the agents in attendance get out of this session depends on the questions we ask,” Pazik said. “How do agents, dealers and customers — particularly Millennial customers — interact and respond to new technology? I want to know what these providers are doing to make sure their products are relevant to the market.”

Registration for Agent Summit is now open at the event’s website as well as by phone, fax and email. Attendees who register by April 4 will enjoy a $100 discount. To inquire about sponsorship and exhibition opportunities, contact Eric Gesualdo via email hidden; JavaScript is required or call 727-612-8826.

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50th F&I Product Administrator Signs On With F&I Admin


CHICAGO – F&I Administration Solutions, LLC (F&I Admin), North America’s leading provider of software solutions for the administration of F&I products, announced today that it has added it’s 50th product administrator to the company’s steadily growing customer base. This milestone marks a significant achievement for F&I Admin and confirms its leadership position in the automotive and powersports F&I industry.

Since purchasing the company in 2009, F&I Admin has achieved exponential year on year growth – building its customer base from 7 to 50, integrating to over 60 menu and other partners and enhancing its SCS Auto software to continually expand its solutions and services without compromising on flexibility and ease of use. Over 5 million new transactions were processed through the SCS Auto system in 2015.

“F&I Admin differentiates itself from competitors by consistently evolving and updating its software and services,” said Kumar Kathinokkula, COO of F&I Admin. “This constant growth of the breadth and depth of our functionality ensures that we are always appealing to an ever growing list of potential customers. This is one of the major drivers of the rapid pace at which customers are signing up with us.”

“We are very proud of this moment in F&I Admin’s history,” added David Trinder, CEO of F&I Admin. “Companies who select F&I Admin are looking for a partner that is dedicated to the complete customer experience but is still agile enough to adjust to this ever-changing industry. Our continued growth is a direct result of F&I Admin’s ability to deliver to this expectation.”

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Wise F&I Launches ONWise – A New Web-based Resource


ST LOUIS, Mo. – Wise F&I LLC is a leading F&I product provider to automotive dealers. Wise F&I recently deployed ONWise – Wise F&I’s online resource for its agent and automotive dealer partners. ONWise includes an industry-leading Contract Administration Portal that provides an intuitive, online administration solution for automotive dealers supporting such services as contract origination, remittance, reporting and cancellation processing.

With technology powered by F&I Administration Solutions, LLC, ONWise supports electronic integration with most major DMS and menu selling system platforms. Wise F&I is connecting dealers, agents and lender partners to the information they need, building stronger relationships through increased efficiencies and improved customer satisfaction.

“Our goal is to be the F&I partner of choice and expanding our online capabilities is going to help further those partnerships and grow business,” said Matt Croak, President, Wise F&I. “With an expansive suite of products inclusing: GAPWise, WiseCARE, THEFTWise, WiseTVP and IDTheftWise, and we are looking forward to how ONWise will further enhance the high level of customer service that we offer”.

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P&A Leadership Summit 2014


The P&A Leadership Summit will return to the Paris Las Vegas Hotel, September 8–10, 2014. This will be the second year for the conference, since it grew out of the former VSCAC conference.

Designed for F&I administrators, senior managers, and anyone involved in the administration of F&I products, the show promises a broad offering of topics this year. Attendees can look forward to the show getting back to the roots of why it was first established – giving professionals a forum to discuss every aspect of F&I product administration and the issues that surround them.

The advisory board is on its way to being finalized and will be comprised of some of the industry’s most knowledgeable experts. David Trinder, CEO of F&I Administration Solutions will be chairing the board. The committee will be comprised of ten members. Confirmed to date are Mary A. Gant, senior vice president, Old Republic Insured Automotive Services, Inc.; Lori Hallissey,
 vice president operations and customer experience, Allstate Dealer Services; Dan Lievrouw, vice president of operations and IT, American Guardian Warranty Services, Inc.; George Krnich, vice president, claims & risk management, American Auto Guardian Inc.; Russell Ridley, director, information technology, Gulf States Financial Services Group; Brent Allen, president of StoneEagle; Marc Coulter, owner, M.C.I Inspections; and Mitch Rand, president, Warranty Inspection Services.

What can attendees look forward to this year? While planning is still in the early stages, the advisory board is excited at the prospect of developing sessions that will cover administration from top to bottom. Topics from evaluating the effectiveness and efficiency of claims departments and call centers, to sessions on parts sourcing, inspections and much more are on the table with the goal of providing a complete picture of the state of today’s F&I product segment.

“I’m looking forward to working with our cumulative client base to find timely and pertinent topics for the conference,” commented Allen, “It is our hope that attendees will walk away feeling that they found great value, and that their time was well spent.”

Trinder said, “We want the summit to be a forum to discuss the core issues around managing costs and driving revenue in F&I. We are pleased at the level of industry knowledge and expertise represented by the board. There are so many industry experts who have agreed to serve on the board. With such a wealth of experience between them, I am really excited about getting started planning a fantastic show this year.”

Rand noted, “The importance of what happens after a service contract is sold and a customer claim has been filed should be a higher priority at the P&A Summit. I’m very excited to start talking about how alternative part providers and inspection companies play an important role in customer retention and overall customer satisfaction in our industry. Combine this with the advanced technology and information that we can make available to our clients, and I’m confident we will have some very important discussions.”

Gant, who formerly served on the advisory board for the Vehicle Service Contracts Administrators Conference (VSCAC) said she is looking forward to the P&A leadership summit and being a part of the planning. “It is a great place to network with other professionals on current topics that affect our industry,” commented Gant. She brings a unique understanding of the underwriting process as well as a seasoned perspective of accounting and administrative issues to the advisory board. She expects for the session topics to address the most relevant issues present in the industry today.

“As a committee,” said Krnich, “we want to provide a comprehensive overview of topics applicable to administrative challenges in F&I. We will be looking at sessions that focus on evaluating the effectiveness of your claims department. We will also discuss customer service skills, communication skills and call center efficiency as planning gets underway. It will be interesting to see what other aspects of the industry arise once we start discussions.”

Lievrouw agreed and added, “I am looking forward to talking about customer service and claims handling service level standards.”

“I am excited and honored to be on the board this year,” says Coulter, “The warranty companies’ are asking for consistency and the only way to do this is by having an industry standard for training. This is all we have ever done at my company and I feel like we have written the book on how to do inspections. The more we can train people in a consistent manner that meets industry standards, the more smoothly the whole system is going to work. I really look forward to exploring this topic further with the board as we plan sessions for the fall.”

The P&A Leadership Summit is a joint production between P&A magazine and F&I and Showroom magazine. Formerly known as the VSCAC, P&A Leadership Summit was renamed to reflect a renewed focus on the high-level issues facing the auto finance industry today.

Topics last year included sessions on technology, an all-star panel of agents who explored current issues and hot topics in the industry, and a presentation on preserving competition in auto financing given by David Wescott, chairman, NADA.

Scott Eisenberg, founder and managing partner, Amherst Partners spoke on the U.S. Fidelis debacle in his presentation, “U.S. Fidelis: Lessons Learned from the Inside.” Having been assigned by the U.S. Bankruptcy Court to steer U.S. Fidelis through bankruptcy, Eisenberg gave an insiders account of this history-making case. In his presentation, he shed light on what led to the collapse of the company and the eventual imprisonment of its owners. Eisenburg explained why no one predicted the downfall of U.S. Fidelis and the impact it had on the service-contract industry. Attendees learned how not to make the same mistakes in this riveting presentation.

Another session favorite in 2013 was the keynote address delivered by attorney Terry O’Loughlin, director of compliance, Reynolds and Reynolds. In his presentation, “Think Like a Regulator,” he demonstrated some of the pitfalls of documentation using real deal jackets. Also discussed were simple, effective processes dealers could use to eliminate potentially fraudulent situations and the key areas regulators tend to focus on.

For more information about the P&A Leadership Summit 2014 visit www.pa-leadershipsummit.com or contact David Gesualdo via email or at 727-947-4027. Advance tickets are on sell now with discount early-bird rates available. The conference will take place September 8 – 10, 2014 at the Paris Las Vegas Hotel.

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