IRVING, Texas -

Exeter Finance Corp. completed the launch of its new originations platform this week; a process the company insisted can reduce the typical decision time to under 15 seconds.

Additionally, Exeter highlighted that it is now able to restructure the loans in real time.

As a result of the full rollout of the new system, all Exeter loan applications will be processed through two operations centers — one in Irving, Texas and the other in Clearfield, Utah — enabling faster and more efficient application processing and a higher level of service for dealers.

“Exeter has created a strong national footprint utilizing a traditional branch model, growing its portfolio from $150 million to $2.8 billion in the past three years,” Exeter chief executive officer Tom Anderson said. “However, we recognize the importance of adapting our business to accommodate the need for more expedient loan processing and higher service. Fundamentally, we have a goal of driving additional sales and customer loyalty in the dealership.”

Anderson emphasized that the changes will occur in a phased implementation to ensure a seamless transition for employees and dealer customers.

Exeter went on to mention the company continues to invest in tools to better support its dealer customers. Exeter’s new program typically provides decisions in 15 seconds or less, while still offering dealers the ability for rehash and personalized service.

“Our new structure allows the dealer to provide immediate offers to the end consumer, potentially generating more sales within the dealership and improving customer satisfaction rates overall,” Anderson said.

Anderson pointed out that consumers are demanding a quicker vehicle purchase process, driven largely by their increasing reliance on technology to better educate themselves, even before entering the dealership. As a result, the Exeter CEO thinks both dealers and finance companies alike are adapting business models to better accommodate the consumer's preference.

“We look forward to the opportunities for growth and change in 2015,” Anderson said. “We will continue to serve our dealers and end consumers in the most efficient and effective manner possible.”

Editor’s Note: Look for more insight on Exeter next week when SubPrime Auto Finance News catches up with Anderson in San Francisco during the Vehicle Finance Conference orchestrated by the American Financial Services Association.