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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.
RefundPlus® provides comprehensive support for the cancellation of GAP, Credit Life & Disability, Vehicle Service Contracts, and AD&D.
Key Benefits of RefundPlus®:
- Unique end-to-end process
- Robust standard and customizable reports
- Extensive dealer and provider follow-up
- Stay up-to-date on changing regulations
- Refund payment Lockbox compiles, logs, validates, and remits all refund proceeds
- API connector with leading platform
2021 NAFCU Innovation Award Winner
The annual NAFCU Services Innovation Awards program recognizes some of the most valuable contributions to the credit union industry. Entries include groundbreaking advancements in technology, software, digital media, campaigns, and more. A panel of esteemed judges from different segments of the credit union industry evaluate entries based on degree of innovation and impact on credit union success. These participating companies help advance our industry; they understand the obstacles, know how to challenge the competition, and bring new solutions to help credit unions grow. The Innovation Awards program gives credit unions a set of vetted and tested solutions to continue building their competitive advantage.