ITURAN and Finance Express Announces Key Partnership, Galvanizing Collateral Management for BHPH Dealers

FT. LAUDERDALE, Fla., May 20, 2013 /PRNewswire/ -- Since its founding in 1995, ITURAN has sought to bring easy and effective asset protection tools to sub-prime and BHPH auto dealers across the country. The company's line of GPS-enabled asset tracking and recovery tools has revolutionized the way in which these dealers protect their assets and improve collections. Now, ITURAN's technology is coming to an even wider population of dealers than ever before, thanks to the full integration of its technology with Finance Express' dealer management system (FEXDMS).

ITURAN is known as an industry leader for its pioneering GPS products, which provides dealers with total security in their ability to track and monitor their assets at any time and from any location, including 24/7 customer service, computer or from a mobile device. In addition to tracking their assets, dealers can also use many of Controlit's features such as Parking Behavior, Geozone, 25-hour heartbeat, starter enable, send payments reminders to increase collections and a customizable suite of reports tailored to dealer's needs.

FEXDMS is a leading provider of online services and Web-based technology for the independent dealer market, including its comprehensive DMS, which has functions such as dealer inventory management, credit application processing, electronic contracting, links to lending sources, dealer management tools, loan servicing and accounting systems, and licensed escrow services. The comprehensive program provides dealers online access to a single, seamless solution and ensures a safe and secure environment for participating lenders. The integration with Ituran's Controlit will allow dealers to manage their GPS accounts from the DMS itself, and to automate the payment reminder process while also accessing ITURAN's starter interrupt technology, its skip protection resources, and its parking behavior reports.

"This collaboration is significant for dealers and financiers, because it brings together two of the most dynamic and forward-thinking collateral management technologies in existence, streamlining the process and making it simpler than ever for dealers to protect their investments and collect more efficiently," comments Ariad Sommer, the CEO of ITURAN. "Auto Finance Express is a truly pioneering company, and we are proud to be working alongside them."

ABOUT:

Since its founding in 1995, ITURAN has risen to become the premier provider of vehicle tracking technologies, asset protection services, and vehicle recovery solutions. The company's unique product offerings, relying on proprietary technology and driven by a commitment to world-class service run the gamut.  The company's latest product, the cost-effective and results-oriented Controlit Core, re-affirms ITURAN's standing as a global leader in its field. ITURAN is a financially sound and publicly traded company, appearing on the NASDAQ under the symbol ITRN.  Visit Ituran USA at this year's NABD for a live demonstration on its Controlit product; booth # 804.

Contact:
Efrat Bogoslavsky
ITURAN USA, Inc.
1700 NW 64th Street, Suite 100
Ft. Lauderdale, Florida, 33309
866-543-5433
[email protected]

SOURCE ITURAN