eLEND Solutions recently released a Finance Report, which was published here on CBT News. The report revealed a significant disconnect between initial payment-term quotes and lenders’ decisions, resulting in an estimated $4.7 billion in annual revenue loss for auto dealers. Joining us on the latest episode of Driving Solutions to explain how the company’s fintech platform addresses these inefficiencies, reduces friction, and improves dealer profitability is Pete MacInnis, CEO of eLEND Solutions.
According to Macinnis, legacy FICO credit-tier models, which assign borrowers a fixed credit-score range to determine rates, no longer reflect modern lender practices. Many major lenders have shifted to dynamic pricing models that evaluate a customer’s full credit profile, including revolving debt and credit history lengths. Without integrating these updated models, dealers can provide inaccurate quotes, which could ultimately slow the sales process and erode trust.
eLEND Solutions’ platform integrates credit, identification, and financial tools into a streamlined workflow. Customers can complete pre-approval and pre-qualification processes remotely, which reduces friction at dealerships and allows for faster, more accurate transactions. The system also helps prevent fraud and ensures compliance by maintaining SOC 2 Type II certification and providing detailed audit trails that track changes to customer data.
"We're very proud of being a SOC2, type 2 certified company, protecting the data at the highest levels possible in the industry."
The platform’s new DealMaker tool streamlines end-to-end transactions, moving customer and lead information from digital retailing systems, CRMs, and inventory platforms directly into dealer finance workflows. This integration allows dealers to finalize deals quickly while maintaining profitability, improving customer satisfaction, and minimizing repeated objections or delays.
eLEND Solutions’ tools are widely adopted across the industry, including five of the six publicly held dealer groups in the U.S., with coverage spanning major stores nationwide. MacInnis emphasized that the platform’s front-end credit and identification features, combined with real-time finance integration, address long-standing dealership challenges in a market where accuracy and speed are increasingly critical.
Further, the company’s fintech solutions are designed to eliminate obstacles, protect dealer margins, and enhance the customer buying experience by ensuring that financing and trade evaluations are accurate before they reach the desk. By addressing these issues at the outset, dealers can close deals more quickly, reduce errors, and improve overall efficiency.
Dealers interested in learning more can download eLEND Solutions’ full finance report here and explore the company’s fintech and retail automotive solutions to enhance operational workflow and profitability.
