May 12, 2016—AAMCO Franchise announced Monday that it has partnered with Versatile Credit to provide new consumer financing options to its franchisees.
Versatile Credit recently announced new technology platform options as a part of its current consumer financing program. It allows customers to submit one credit application to access multiple lenders maximizing approval rates. Credit denials may be reduced up to 40 percent.
“Our vision was to develop a consumer finance platform and portfolio of lenders that provided the best possible approval rates and terms to AAMCO franchisees and their consumers in the easiest possible way. Versatile Credit aligns with this vision and we are pleased to partner with them on a consumer finance solution that we believe will drive long-term growth in profitability for AAMCO franchisees,” CFO of AAMCO Transmission Inc. Jim Gregory, said. “Versatile Credit’s kiosk offers consumers access to multiple lenders in a much more efficient way. Through in-center testing, we’ve already experienced a jump in loan approval rates and average approval amounts for customers, which will only increase as the program continues to roll out.”
“Versatile Credit’s proprietary software has a proven track record of providing a network of leading lending partners and services that can reduce lost sales,” president of Versatile Systems Vicki Turjan said. “Our self-service, kiosk-based solution will allow AAMCO’s customers to apply for credit using a secure and reliable touch-screen interface that requires little to no assistance from staff.”
AAMCO previously offered financing options to its franchisees through Synchrony Financial, which is integrated into the Versatile Credit solution platform as well.
