Harley-Davidson Financial Services to provide Web-based financing solution for motorcycle loans
Metavante Corporation, the banking and payments technology subsidiary of Marshall & Ilsley Corporation, today announced that it has signed an agreement with Harley-Davidson Financial Services (HDFS) to provide a Web-based loan origination system for HDFS’ motorcycle loan business.
HDFS will use technology created by GHR Systems, Inc., a Metavante Lending Solution, to streamline the loan origination process and provide Harley-Davidson dealers with electronic application and document generation for loans. GHR will provide HDFS with its CreditWorx™ platform, which automates loan underwriting, audit, funding, and documentation. GHR Systems from Metavante is a leading provider of lending automation technology and services for the consumer, residential mortgage and small business industries. The Retail Finance Solutions unit of GHR Systems offers complete consumer vendor financing solutions for manufacturers, distributors, retailers and lending partners.
“As a state-of-the-art Web-based loan origination and decision engine solution, CreditWorx will provide HDFS with a single, enterprise-wide platform for its consumer loan origination process,” said Rick Arends, executive vice president, Retail Financing Solutions unit of GHR Systems. "It is designed for information application processing, automated and manual decisioning, and documentation preparation."
“Our relationship with HDFS is a significant milestone in expanding our point-of-sale financing operations in the United States and we welcome HDFS to the Metavante Lending Solution’s growing community of North American clients, which include five of the top power sports recreational manufacturers in the world and six of the top 20 U.S. mortgage lenders,” said Gary Refinski, Metavante executive vice president.
Metavante Lending Solutions provides technology and service solutions for mortgage, home equity, consumer and indirect retail finance loan origination. Lending solutions are provided for point-of-sale origination, processing, closing, automated underwriting, decisioning, and business process management, as well as processing, settlement and document generation services. Metavante Lending Solutions are used to better market, sell, process, and close loans through all distribution channels, including retail, wholesale, Internet, and correspondent. Metavante Lending Solutions helps clients of all sizes, from community banks to the top financial institutions in North America.
Harley-Davidson Financial Services, a wholly owned subsidiary of Harley-Davidson, Inc., provides wholesale and retail financing, insurance, and credit card programs to Harley-Davidson and Buell dealers and riders in the U.S., Canada, and select European countries.
HDFS finances riders’ purchases of Harley-Davidson and Buell branded motorcycles, parts, accessories and general merchandise. HDFS also offers motorcycle insurance, an extended service plan, and other protection plans. HDFS offers Harley-Davidson and Buell dealerships floor plan financing, dealership and garage insurance and insurance coverage for events and rentals.
Metavante Corporation delivers banking and payments technologies to financial services firms and businesses worldwide. Metavante products and services drive account processing for deposit, loan and trust systems, image-based and conventional check processing, electronic funds transfer, consumer healthcare payments, electronic presentment and payment, and business transformation services. Headquartered in Milwaukee, Metavante is wholly owned by Marshall & Ilsley Corporation.