Description

By closing the loop in the automotive financing process to the dealer, Open Dealer Exchange provides lenders and F&I providers with the innovative solutions needed to eliminate errors and increase efficiencies. Open Dealer Exchange, LLC is the leading expert and esential connector within the F&I process for bringing together lenders and F&I product providers with their dealership partners. A joint venture between Automatic Data Processing, Inc. (ADP) and The Reynolds and Reynolds Company, Open Dealer Exchange improves the entire vehicle finance process by by integrating a finance source or F&I product provider directly within a dealership's dealer management system (DMS). By providing a direct connection into the DMS, Open Dealer Exchange removes the need for the dealer to leave their system-of-record during the F&I process. This innovative process results in increased operational efficiencies, reduced contract errors, and a more streamlined process with a lender or provider's franchised dealerships. Open Dealer Exchange, LLC consists of two main parts: Lender Services and Provider Exchange Network (PEN).