Verifacto: Auto Loan and Dealer Management Software
Verifacto helps auto dealers and finance companies manage vehicle loans and risk. It is designed for teams that need to coordinate payment processing with insurance compliance monitoring.
At a glance
- Category
- Finance & Accounting
- Best for
- Auto dealers, Auto finance companies, Vehicle leasing businesses, Auto lenders
- Pricing
- The Loan Management System (LMS) is free when used with Verifacto's payment processing and insurance tracking platforms. For other pricing, buyers should confirm current rates on the vendor website.
- Key use cases
- Loan Portfolio Management, Insurance Compliance Monitoring, Payment Collection Automation, Inventory and Contract Tracking
- Integrations
- QuickBooks integration
- Official website
- verifacto.com
Verifacto provides a combined Loan Management System (LMS) and Dealer Management System (DMS) for the automotive industry. It is designed to help lenders and dealers manage loan origination, inventory, payment collection, and risk mitigation.
The software is intended for auto dealers, finance companies, and leasing businesses. It includes tools to track borrower insurance status and automate payment reminders to support account currency.
Additional capabilities include GPS tracking of collateral and AI-based communication for the collections process. The platform also supports integration with QuickBooks to help manage financial records.
Buyers should confirm how the payment processing and insurance tracking requirements affect the overall cost, as the LMS component is offered at no cost when these other services are used.
Key Features
Supports loan origination, customer loan status tracking, and compliance checks.
Monitors borrower auto insurance status to help reduce risk from uninsured or underinsured collateral.
Supports online payments via browser or mobile, including ACH and recurring payment setups.
Uses AI to generate messaging content for collections and automated replies via email and SMS.
Supports inventory management and loan origination for dealerships.
Allows lenders to monitor the location of their collateral.
Automates CPI programs to help enforce compliance and provide immediate coverage.
Use Cases
Managing the lifecycle of auto loans from origination through payment.
Tracking whether borrowers maintain insurance coverage to protect the lender's asset.
Using automated SMS and email reminders to support on-time loan payments.
Organizing dealership inventory and managing associated sales contracts.
Best For
Integrations
Pricing
The Loan Management System (LMS) is free when used with Verifacto's payment processing and insurance tracking platforms. For other pricing, buyers should confirm current rates on the vendor website.
FAQ
The LMS is free when the user also utilizes Verifacto's payment processing and insurance tracking platforms.
It is built for auto dealers, finance companies, lenders, and leasing businesses.
Yes, it provides insurance tracking (CIMS) and Collateral Protection Insurance (CPI) tools to monitor borrower coverage.
The platform uses AI to generate messaging for collections and to support automated responses via SMS and email.
Source category: Finance & Accounting
Source subcategory: Dealer Management System
