Entries by Sam Saidman

Payment Processing for the Auto Industry

One of the biggest concerns in the auto industry is ensuring borrowers can make their car loan payments on time. At Verifacto, our goal is to provide software that makes the loan payment process easy to use for both lenders and borrowers. The easier it is for a borrower to make a payment, the better […]

What is Collateral Protection Insurance?

Collateral Protection Insurance (CPI) is insurance used by lienholders to protect themselves from financial loss. CPI is also known as force-placed insurance because this type of insurance is not sold to a customer, however, it can be placed on a vehicle when the borrower does not have physical damage (comprehensive and collision) coverage.

Verifacto: Not Your Average Auto Insurance Tracking Company

In the automotive industry, it’s crucial lenders, dealers and finance companies effectively track their customers’ auto insurance status. This allows lenders to stay on top of every update and keep their company safe from potential liability or monetary loss. Nearly every auto insurance tracking company claims to help you save money, but Verifacto stands apart […]

5 Important Questions to Ask About Insurance Tracking

If an auto lender is not using insurance tracking with their customers, the company is taking a high and unnecessary risk which results in monetary loss from their customers that are not properly insured. When it comes to insurance tracking, lenders want to make sure they’re asking the right questions so they can get a […]

Payment Reminders: Mail or Email?

Let’s face it: snail mail is an ineffective means of communication – especially when it comes to payment reminders. No wonder so many businesses are turning to payment reminders and bill alerts to encourage customers to settle on time. While some businesses might be skeptical of switching to an automated payment system it is easily […]