An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
DDI Technology Enters Electronic Lien and Title Market in West Virginia
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
DDI Technology, a subsidiary of IAA (NYSE: IAA), expands its electronic lien and title (ELT) services into West Virginia, marking the 27th state to adopt this technology. The Premier eTitleLien product enhances lenders' title management by streamlining processes and reducing paper use. DDI's services include competitive transaction-based pricing and exceptional customer support. The expansion is expected to improve efficiency in West Virginia's ELT market, enhancing transaction speed and accuracy.
Positive
Expansion of DDI's electronic lien and title services into West Virginia enhances market reach.
The Premier eTitleLien product improves efficiency and accuracy in title processing for lenders.
Competitive transaction-based pricing with no monthly fees adds value for users.
Negative
None.
New program allows lenders to process vehicle titles electronically
WESTCHESTER, Ill.--(BUSINESS WIRE)--
DDI Technology (“DDI”) a leading electronic lien and title technology firm and a subsidiary of IAA, Inc. (NYSE: IAA), a leading global digital marketplace connecting vehicle buyers and sellers, announces the expansion of its electronic lien and title (ELT) services and Premier eTitleLien® product into the state of West Virginia. This is the 27th state, along with Washington DC, to feature DDI ELT technology and solutions.
DDI’s Premier eTitleLien product is an essential tool in its broad suite of technology solutions, streamlining lenders’ titles and lien release management. It also simplifies the title process by improving accuracy while eliminating the use of paper. This product provides electronic lien processing, title workflow processing and services for interfacing with lenders’ loan systems.
“We are excited about DDI’s expansion into West Virginia and know that its powerful electronic solutions will help to lower transaction times and improve efficiencies in the state’s ELT market,” said Tab Edmundson, IAA Vice President of Client Solutions and DDI President. “DDI enjoys a strong reputation for its technology and customer service in dozens of states as lenders appreciate the tremendous time and effort saved during the titling process.”
Features of DDI Technology’s leading ELT services include:
Premier eTitleLien solution offering powerful built-in tools to deliver value-added benefits.
Competitive transaction-based pricing with no monthly user fees, support fees or monthly minimums.
Customized workflow and process options.
Exceptional customer support.
About IAA
IAA, Inc. (NYSE: IAA) is a leading global digital marketplace connecting vehicle buyers and sellers. Leveraging leading-edge technology and focusing on innovation, IAA’s unique platform facilitates the marketing and sale of total-loss, damaged and low-value vehicles. Headquartered near Chicago in Westchester, Illinois, IAA has nearly 4,500 employees and more than 210 facilities throughout the U.S., Canada and the United Kingdom. IAA serves a global buyer base – located throughout over 170 countries – and a full spectrum of sellers, including insurers, dealerships, fleet lease and rental car companies, and charitable organizations. Buyers have access to multiple digital bidding and buying channels, innovative vehicle merchandising, and efficient evaluation services, enhancing the overall purchasing experience. IAA offers sellers a comprehensive suite of services aimed at maximizing vehicle value, reducing administrative costs, shortening selling cycle time and delivering the highest economic returns. For more information visit IAAI.com, and follow IAA on Facebook, Twitter, Instagram, YouTube and LinkedIn. For more information on DDI visit DDITechnology.com, and follow DDI on Facebook, Twitter, and LinkedIn.
Forward-Looking Statements
Certain statements contained in this release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and which are subject to certain risks, trends and uncertainties. In particular, statements made in this release that are not historical facts may be forward-looking statements. Words such as "should," "may," "will," "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates" and similar expressions identify forward-looking statements. Such statements include statements regarding the expected timing and associated benefits with respect to the expansion of DDI Technology into the West Virginia electronic vehicle title and registration market on our business and plans regarding our growth strategies and margin expansion plan, and to our customers and company generally. Such statements are based on management’s current expectations, are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from the results projected, expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to: the impact of COVID-19 and macroeconomic conditions on our business; our future growth; expectations regarding vehicle volume sales, results of operations and capital expenditures; and our continued investment in information technology, the impact of macroeconomic factors, including high fuel prices and rising inflation, on our revenues, gross profit and operating results; the loss of one or more significant vehicle suppliers or a reduction in significant volume from such suppliers; our ability to meet or exceed customers’ demand and expectations; significant current competition and the introduction of new competitors or other disruptive entrants in our industry; the risk that our facilities lack the capacity to accept additional vehicles and our ability to obtain land or renew/enter into new leases at commercially reasonable rates; our ability to effectively maintain or update information and technology systems; our ability to implement and maintain measures to protect against cyberattacks and comply with applicable privacy and data security requirements; our ability to successfully implement our business strategies or realize expected cost savings and revenue enhancements, including from our margin expansion plan; business development activities, including acquisitions and the integration of acquired businesses, and the risks that the anticipated benefits of any acquisitions may not be fully realized or take longer to realize than expected; our expansion into markets outside the U.S. and the operational, competitive and regulatory risks facing our non-U.S. based operations; our reliance on subhaulers and trucking fleet operations; changes in used-vehicle prices and the volume of damaged and total loss vehicles we purchase; economic conditions, including fuel prices, commodity prices, foreign exchange rates and interest rate fluctuations; trends in new- and used-vehicle sales and incentives; uncertainties regarding ongoing surges of COVID-19 infections, including new more contagious and/or vaccine resistant variants, and the impact on the duration and severity of the COVID-19 pandemic and measures intended to reduce its spread, including the availability, rate of public acceptance and efficacy of COVID-19 vaccines; and other risks and uncertainties identified in our filings with the Securities and Exchange Commission (the “SEC”), including under Item 1A “Risk Factors” in our Annual Report on Form 10-K filed with the SEC on February 28, 2022 and Item 1A “Risk Factors” in our Quarterly Report on Form 10-Q filed with the SEC on May 10, 2022, as such risk factors may be amended, supplemented or superseded from time to time by other reports we file with the SEC, including subsequent Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K. Many of these risk factors are outside of our control, and as such, they involve risks which are not currently known that could cause actual results to differ materially from those discussed or implied herein. The forward-looking statements in this document are made as of the date on which they are made and we do not undertake to update our forward-looking statements.
