F&I Sentinel, a Tallahassee, FL-based isk-management solutions provider for finance and insurance products (F&I), acquired Express Recoveries from Cox Automotive Inc.
The amount of the deal was not disclosed.
The entire Express Recoveries team that currently supports the business is now part of the expanded F&I Sentinel team. The purchase increases F&I Sentinel’s footprint, creating the auto-lending industry’s most comprehensive after-market finance and insurance compliance solution.
Express Recoveries connects lenders with providers and dealers to process product cancellation refunds, minimizing compliance risk and building consumer and dealer relationships. Its solution facilitates a streamlined process flow, including initiating cancellations, determining refunds, obtaining recoveries on behalf of consumers and lenders, and helping ensure adherence with mandates, which can vary by state.
Led by CEO Stephen McDaniel, F&I Sentinel provides auto-finance companies with risk-management solutions for finance and insurance products (F&I). Its dynamic compliance approach combines automation with human intelligence. Empowered by CITADEL®, a comprehensive F&I compliance management platform, its team helps to achieve compliance throughout the full F&I product lifecycle, from origination to cancellation and refunds. Today, CITADEL® platform is used by 16 auto lenders, including six of the top 10 lenders, and used by more than 600 product companies with a repository of over 112,000 compliant F&I products.
Commenting on the news, Stephen McDaniel said: “The acquisition not only amplifies our market presence, but further expands our refund solution and provides Express Recoveries clients with access to the full suite of our offerings. Our existing network of over 600 F&I product administrators and platform users, combined with Express Recoveries’ expertise in processing cancellations, creates the only compliance solution in the market that covers the entire lifecycle of an F&I product, from origination to servicing. We’re excited to welcome the Express Recoveries team to F&I Sentinel.”
FinSMEs
08/02/2024