PHILADELPHIA — VINtek, a provider of auto collateral management services for banks, credit unions and other automotive finance lenders, recently announced record customer growth of 80 percent in 2007.

VINtek said its other accomplishments in 2007 include:

—Opening a second facility in Las Vegas to support VINtek's growing client base.

—Successfully completed Electronic Lien Transform certification with the Departments of Motor Vehicles in Georgia and South Carolina.

—Maintaining its position as the independently verified highest quality ELT provider in Arizona, California, Florida, Hawaii, Idaho, Massachusetts, New York, Ohio, Pennsylvania, Virginia and Washington.

"VINtek experienced a great deal of growth in 2007, largely because of the auto lending industry's push for cost reductions, efficiency gains and reduced exceptions in the current credit environment," explained Larry Highbloom, president of VINtek.

"As paperless lien initiatives continue to be adopted by states across the country, banks, credit unions and ‘buy-here, pay-here' auto dealers will see the value of leveraging technology, such as electronic title management, into a competitive advantage," he concluded.

For more information on the company, visit www.vintek.com.