PHILADELPHIA — VINtek celebrated a significant landmark this week, revealing Monday that the 20-year-old company's clients list recently reached 1,000 customers.

Moreover, officials said the company is still adding several clients daily throughout its various business segments.

VINtek said its customer list includes a wide variety of clients, including small community-based credit unions, buy-here pay-here dealership and top banks.

As most know, VINtek offers automotive collateral management services as well as electronic lien and title services.

Specifically, officials noted that the VINtekTIME ELT product has helped push the expansion in its customer list with electronic vehicle titling becoming more prevalent throughout the U.S.

"ELT enables automotive lenders and state motor vehicle agencies to eliminate title postage, paper and storage costs, alleviate the errors and potential for fraud associated with paper titles and save time, leaving little doubt about its effectiveness," stated Larry Highbloom, president of VINtek.

VINtek also noted that its growth has been spurred by lenders leaving other vendors and moving over to VINtek. 

Officials said the company has been able to move these portfolios from its competitors into its system with no effect on borrowers, thanks partly to its "advanced technology and high quality, hands-on customer support."

"VINtek's ELT solution has taken market share because it is easy to use, reliable and incorporates the latest in data security and maintenance standards," Highbloom added. "We have never lost an ELT record or had to resend previously sent data files.

"We continually enhance products to keep our customers on the leading edge of lending technology so that they remain the number one vehicle financing source for their customers and members," he continued. "Our solutions are also backed by a support team that boasts more auto industry experience than any of our competitors, ensuring clients receive the best service for their needs from people who understand the business."