In The News
FOR IMMEDIATE RELEASE (June 23, 2020 Detroit, MI)
TurboPass is the first universal income validation (Ability to Pay) solution for automotive dealers. It eliminates the hassle and risk associated with document-based verification of income, employment and residence and provides trusted direct (bank & credit union) source data that fulfills lenders’ need for copies of bank statements, proof of income, proof of employment, and other stipulations.
Dealers can now send a simple TEXT to a consumer at the point of sale or during their shopping process to validate “ability” that’s ready in seconds, saving valuable time in the car buying/closing process. Lenders will have “funding” dashboard access to validate dealer initiated reports eliminating the need to send personal identification documents in the funding package. Just send (or transmit) the TurboPass “Code” to the lender.
“After analyzing alternatives and in light of the current unemployment situation, we are moving forward to sign up all of our dealers nationwide onto the TurboPass platform. This will allow dealers to collect income, employment, and proof of residence data, streamlining the stip clearing process to get deals done faster and to minimize incidents of errors, and fraud,” stated Mike Opdahl, ACC Chief Operating Officer.
“The TurboPass Report is an unique solution in the auto finance ecosystem. It’s something that our dealers have said is a long-time coming. In light of the Coronavirus environment, verifying income, employment, is difficult, yet more important than ever. The fact that ACC, an innovative and important lender to so many used car dealers in America, recommends and accepts TurboPass to clear stips and is now actively promoting its adoption to its thousands of dealers is both exciting for our company and indicative of where the industry is moving”, said Mike Jarman, Co-founder, and CEO of TurboPass Corporation.
“Our team members are happy to leverage this innovation because it helps our dealers succeed in many ways. It also helps our underwriting teams make solid and fast decisions. With the new COVID realities, this novel method is not only customer-authorized and (trusted), it allows us to deliver great value to our dealership partners around the country.” said Michael Blasius, Business Development Director at ACC.
Founded in Michigan in 1992, ACC has partnerships with thousands of dealers throughout the United States including Arizona, California, Colorado, Florida, Illinois, Indiana, Michigan, Minnesota, Nevada, Ohio, New York, and Utah.
TurboPass Corporation is a financial technology software company based in Austin, Texas focused on automation, Saas, and Cloud-based solutions for automotive dealerships, banks, and Finance Companies across North America.
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