Westlake Financial Services announces the launch of its eContracting automotive loan origination solution in 50 U.S. states through DealerCenter.

“Our goal was to launch eContracting in all fifty states by the end of 2017. We have achieved that goal two months early,” stated Jack Ratusnik, Westlake’s Senior Project Manager. “This rewarding project involved many employees from various business units, Nowcom, and our partner, eOriginal. eContracting has been a huge success for Westlake and our Dealers.”

Westlake’s eContracting solution allows both independent and franchise dealers to sign contracts electronically, upload supporting documentation, and instantaneously push all information to Westlake as soon as the loan package is complete. This simplified process typically results in better customer service, fewer missing documents, and faster funding. To date, Westlake has funded over 32,000 eContracts using the solution. On average, these eContracts have funded a half-day faster than traditional deals.

“Dealers have consistently embraced our eContracting as we’ve rolled-out each state,” added Casey Harmon, Senior Vice President of Corporate Development. “They haven’t needed to purchase special equipment to implement the solution, because we built it to work regardless of their IT setup. That means they can eContract with Westlake using everything from the latest tablet or phone to a basic computer and mouse configuration.”

“eContracted deals now make up about twenty percent of our monthly originations,“ commented Mark Vazquez, Westlake’s Senior Vice President of Sales and Marketing. “We should see this ratio increase now that we have launched the solution nationwide.”