Zoot Enterprises Inc., a Bozeman, Mont., provider of credit decisioning and loan origination systems, has developed an "automated negotiation system" designed to help lenders increase acceptance rates on loan offers.
For example, indirect automotive lenders could use the system to help dealers present an offer based on factors like interest rates, loan length, trade-in value, or payment amount without having to go back to the lender repeatedly, Zoot said Wednesday.
"With the decrease in auto sales forecasted for 2008, it is imperative to capture leads by offering the most immediate and timely information before the dealer chooses to seek a different lender," Chris Nelson, the vendor's chief executive officer, said in a press release.
Zoot claims seven of the top 10 U.S. banking companies as customers.
