Inovatec Systems Corp. has chosen CARFAX Canada VIN Scan to help power their industry-leading, cloud-based lending software solutions. The partnership enables Inovatec users to adjudicate lease and finance applications with greater efficiency and accuracy.
CARFAX Canada has billions of data records from thousands of unique sources, including data that can't be found anywhere else. VIN Scan leverages this information to provide high-level insight into key vehicle attributes. The system integrates seamlessly into the Inovatec LOS dashboard (Compass), enhancing its users' ability to see important information about a vehicle at a glance, thereby mitigating risk. There is always the option to order a full CARFAX Canada Vehicle History Report if more specific detail is required.
"We're excited to be able to provide our partners with unmatched vehicle history information in a seamless and cost-effective way," says Mike Foster, director, banking, insurance and government at CARFAX Canada. "This new partnership with Inovatec combines best-in-class loan origination software with key elements of a vehicle's history, enabling users to drive better business decisions by leveraging our data more effectively than ever before."
Bryan Smith, vice president of sales and marketing at Inovatec commented, "we are very pleased to announce this partnership with CARFAX Canada. The integration drives another level of data and transparency for our lender partners when adjudicating applications and assessing true risk. The result is higher efficiency, more deeply-informed decisions, upgraded customer experience and lowered portfolio and transactional risk."
About CARFAX Canada
CARFAX Canada, part of IHS Markit (NYSE: INFO), is Canada's definitive source of automotive information, delivering vehicle history, appraisal and valuation. Drawing on billions of data records from thousands of sources, its products enable used vehicle buyers and sellers to make informed decisions. Formerly known as CARPROOF Corporation, CARFAX Canada is dedicated to transparency and is trusted to provide vehicle history and valuation information to dealerships, vehicle manufacturers, consumers, major auctions, governments, insurance providers and police agencies. www.carfax.ca
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About Inovatec Systems Corp.
Inovatec Systems Corporation is an industry-leading provider of cloud-based software solutions for automotive and equipment financing institutions. The seamless platform is ideal for external partner and customer communications through a robust ecosystem that streamlines the process of crediting, auditing, funding and income verification for finance applications. For more information, please visit www.inovatec.com.