VIENNA, Va., and DALLAS — Through a new deal, Santander Consumer USA can now instantly verify name, address and phone numbers of consumers sharing information via their local dealer or at RoadLoans.com.

To complete this verification, Santander Consumer USA teamed up with TARGUSinfo to add On-Demand verification to all the auto loan applications the lender receives from its network of about 12,000 dealers and through its online site.

"Every day there are hundreds of thousands of auto loan applications submitted in the industry that undergo a 24-hour manual review process for approval," explained Rush Blevins, director of business strategies with Santander Consumer USA.

"With the aid of TARGUSinfo, we're streamlining this process by integrating real-time verification of applicant information. Our verification of applicant phone numbers jumped 380 percent across all channels shortly after we started working with TARGUSinfo," he continued.

The idea behind the new deal is to approve loans more quickly and help dealers to close deals. Basically, with fewer documentation stipulations, dealers can receive faster funding.

"Santander Consumer USA does a terrific job differentiating itself for dealers and consumers looking for rapid loan approvals," noted Dorean Kass, director at TARGUSinfo. "We are pleased to work with such an industry leader and happy to do our part and provide our On-Demand verification services to help stimulate lending in the U.S. market."

Belvins added, "Our new process, leveraging TARGUSinfo's expanded ability to link attributes such as mobile phone data to addresses and other relevant information, goes a long way to lower our costs, minimize our risk and improve satisfaction for our dealers."