Proteris Compliance Solutions provides outsourced compliance review and a technology platform for F&I product contracts in the automotive, marine, and powersport industries. They ensure consumer forms meet lender minimum business requirements and regulatory standards, streamlining contract approval for providers and lenders.
Funding
Funding not disclosed
Founders
Product
Problem
Lenders and providers in the automotive, marine, and powersport industries face significant administrative burdens ensuring that finance and insurance (F&I) product contracts comply with lender minimum business requirements and evolving regulatory standards. This complexity leads to inefficiencies in contract submission, review, and approval processes for all parties involved.
Solution
Proteris Compliance Solutions offers an outsourced compliance review service and a technology-driven platform to streamline the F&I product contract approval process. The company acts as an intermediary, reviewing provider-submitted consumer forms on behalf of lenders to ensure adherence to specific minimum business requirements and state/federal regulations. This service simplifies form submissions for providers and provides lenders with assurance that financed products meet their criteria. Proteris also facilitates the creation and updating of minimum business requirements and consolidates consumer forms to enhance operational efficiency.
Target Audience
Primary customers include lenders and providers within the automotive, marine, and powersport sectors who require efficient and compliant F&I product contract processing.
Features
- Outsourced compliance review of consumer contracts for F&I products including GAP, VSCs, PPM, T&W, key replacement, EWU, appearance protection, and theft protection.
- Verification of contract compliance against lender Minimum Business Requirements (MBRs) and all 50 states' applicable laws.
- Technology platform for streamlined consumer form submissions by providers to multiple lenders simultaneously.
- Form consolidation services for providers to reduce the number of individual form submissions required.
- Creation and updating of MBRs for lenders, with the latest versions accessible via a client portal.
- Custom solution development to address unique client needs.
- Client portal for lenders to manage MBRs, receive form submissions, and communicate waiver requests.
- Client portal for providers to submit forms, view MBRs, and monitor submission progress.