KeyBank USA & IDS to launch new loan technology

CLEVELAND, Ohio – Beginning this March, KeyBank USA, a division of KeyCorp, and Integrated Dealer Systems, a dealership management and accounting system provider and subsidiary of the Brunswick Corporation, will launch a new loan application processing system, a press release said yesterday.

The new technology, which will be available for all marine dealerships using the IDS Astra Dealer Management System, electronically links IDS' dealership management system directly into Key's application processing system, resulting in a faster, more accurate loan application process, the release said.

MarineMax will be the beta rollout partner starting in March.

"This is a first of its kind in the marine industry and is part of our goal to help dealers be more efficient, productive and profitable," said Don Tillotson, director of new business development for IDS. "We are excited about this project and will be extending this kind of automation in other aspects of the dealership."

"This new technology will streamline the loan application process for dealers and consumers, making it faster and more accurate, much like the automobile industry has done," CEO of Key Recreation Lending and executive vice president of KeyCorp, Kenneth R. Landon, said. "The technology allows dealerships to reduce paperwork and man-hours, improve the accuracy and speed of their loan applications, and allows them to get answers to their questions faster than ever before."

Key's new technology enables marine dealerships to submit loan applications, receive approvals and ask questions, all through an electronic system integrated in the IDS Astra system. Dealerships can also use the new system to track their marine loan activity, providing instant data in user-friendly report formats. Key is the only bank currently linked to the IDS network.

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