Elizabeth, NJ – Vendor Transparency Solutions, LLC, an Arizona based vendor screening company, launched the first online compliance management system for the automotive lending industry today.
“Through compliance monitoring, VTS is positioned to create new standards in the highly unregulated repossession industry,” Said VTS President, Maximo Pineiro. “Our main focus is to assist lenders in reaching and maintaining the highest level of compliance while minimizing their risk and exposure.”
The company has developed an industry specific, comprehensive, supplier screening solution that will assist the automotive lending community to reach the highest level of compliance and provide a solution that addresses new regulations requiring financial institutions to properly screen current and potential suppliers.
The VTS online-based platform facilitates the act of monitoring vendors and presents a seamless flow of information directly to automobile lenders so they may track the compliancy of their contracted service providers operating within the repossession industry. This includes repossession companies, skip tracing agencies, repossession forwarding, and transportation companies.
The VTS Lender Portal tracks the various compliance components of each and every supplier. The system flags those vendors who are out of compliance while tracking and issuing system generated notifications to lenders and suppliers alike on those items.
In the near future the company will also to roll out compliance monitoring for additional industries that contract with auto lenders and financial institutions.
At the helm of Vendor Transparency Solutions, LLC (VTS) is President, Max Pineiro, with over 25 years of industry related experience and President and CEO of Elite Collateral Recovery, Inc., a New Jersey and Florida based corporation.
Director of Operations, Jeff Koistinen, brings over 20 years of recovery related business experience and software development to Vendor Transparency Solutions, LLC.
Jeff was one of the founding visionaries behind the software program that later revolutionized the repossession industry, Recovery Database Network (RDN). He was also one of the two founders of Digital Recognition Network (DRN), which he founded in 2008.
For further information on Vendor Transparency Solutions, their product or any of their services contact VTS President, Maximo Pineiro at 732-489-7728 or via email at firstname.lastname@example.org, or Director of Operations, Jeff Koistinen at 520-248-6000 or via email at email@example.com.