New Acquisition Brings Groundbreaking Compliance Technology to the Independent Auto Industry
Fort Worth, TX – March 14, 2014 – AutoStar Solutions, Inc., a leading provider of enterprise level software to the independent auto industry, has announced its acquisition of a 50% interest in SecureClose, LLC, a designer of innovative compliance technology. Together, the two companies are finalizing plans to provide a new tool that automates the contract closing process for new and used car dealers. This new technology comes at a time of increased regulation in the independent auto industry, which typically provides vehicle financing to customers without access to traditional options.
“In this climate of increased regulatory scrutiny, we believe that SecureClose has developed the product of choice to aid dealers in their efforts to mitigate risk and streamline closings. We look forward to bringing this compliance solution to an industry already burdened by increased regulatory scrutiny,” said Allen Dobbins, President & CEO of AutoStar Solutions.
This new solution, designed by SecureClose, assures consistent communication of legal disclosures by using a customized avatar to walk a customer through the contract closing process. At the same time, the customer’s image and keystrokes are captured by the system, which also utilizes e-signature technology to ensure that the necessary documents are properly signed. All of this information is then stored so that both the dealer and the customer have access to the actual closing process in the event of a regulatory dispute or legal action.
“We believe this is the most advanced, cutting edge closing product on the market, and we are excited to collaborate with AutoStar as we take this product nation-wide,” said Ace Christian, founder of SecureClose, who is also a Buy-Here Pay-Here Dealer. Christian will assume the role of Chief Vision Officer with responsibility related to product development.
The SecureClose solution will initially be available to AutoStar’s existing clients through an integration with their cutting-edge dealer management solution, AutoStar Fusion. A general industry release is planned for later in 2014. Steve Levine, AutoStar’s Chief Legal Officer, added “In my experience, one of the dealer’s biggest risks is inconsistent delivery of disclosures at closing. The litigation costs are staggering. The exciting thing about this product is it takes the he said – she said variable out of the closing process and provides the dealer with an irrefutable tool to rebut consumer complaints”.
For further information, please contact Edward Viator at 817-439-6164 or visit http://www.secureclose.net, where you can also view video interviews about the product and future plans.
About AutoStar Solutions
For over 20 years, AutoStar Solutions has provided dealer management software solutions to independent automotive dealers and finance companies located in the United States. Their web-based software solutions have enabled clients to automate and simplify activities while staying compliant with state and federal regulations. Learn more at http://www.autostarsolutions.com
SecureClose,LLC, an AutoStar Technology company, is a provider of innovative technology which helps auto dealers and lenders mitigate the risk of future compliance issues created by inconsistent or misleading communications during the sales closing process. This is made possible through the use of cutting edge technology that combines the use of audio, video, a personalized avatar, and e-sign technology. This unique approach to contract closing ensures that each consumer receives a consistent and compliant message every time. Learn more at http://www.secureclose.net