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- Credit Unions
- Finance Companies
- Auto Dealers
Optimizing the Product Cancellation Process
Stricter regulations surrounding the timing, accountability, and amount of product refunds has placed an increased burden on auto lenders. A compliant system needs to be in place to ensure refunds are issued in a timely and effective manner. This solution helps streamline the cancellation process of aftermarket products due to early payoff, repossession, total loss, charge-off, and abandonment while ensuring compliance.
REFUND Plus® provides comprehensive support for the cancellation of GAP, Credit Life & Disability, Vehicle Service Contracts, and AD&D.
Key Benefits of REFUND Plus®:
- Maintain regulatory compliance and lighten internal administrative burden
- Gain control of owed refunds
- Improve auditable trail of the entire refund process