BenchMark 2000 Launches 1998 Indirect Lending BenchMark Programs.ATLANTA--(BUSINESS WIRE)--June 23, 1998--BenchMark 2000, a leading provider of benchmark programs and consulting services for banks and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. organizations, announced today the beginning of its 1998 Indirect Lending BenchMark program. The Indirect Lending program attracted 16 banks and finance organizations that include: American Honda Finance, BB&T, BMW BMW in full Bayerische Motoren Werke AG German automaker. Founded as an aircraft engine manufacturer in 1916, the company assumed the name Bayerische Motoren Werke and became known for its high-speed motorcycles in the 1920s. Financial Services, CIBC CIBC Canadian Imperial Bank of Commerce CIBC Centres Interinstitutionnels de Bilan de Compétences CIBC Commonwealth Institute of Biological Control (Trinidad) CIBC Commercial International Brokerage Company , Chase Auto Finance, Chrysler Financial, Ford Motor Credit, First Hawaiian Bank, GMAC GMAC General Motors Acceptance Corporation GMAC Graduate Management Admission Council GMAC Give Me A Call GMAC Genetic Manipulation Advisory Committee GMAC Genetic Modification Advisory Committee (Singapore) GMAC Give Me A Chance Financial Services, National City bank, Nissan Motor Acceptance, Premier Auto Finance, Toronto Dominion Bank, Toyota Motor Credit, Volvo Finance and WFS WFS Wegfahrsperre (German: drive away blocking system) WFS Web Feature Service WFS World Future Society WFS World Food Summit WFS Wave Front Sensor WFS Wolfram Syndrome WFS Wire Feed Speed (welding) Financial. In last year's Indirect Lending program, BenchMark 2000 analysis uncovered significant trends in the use of computer technology. The analysis revealed organizations using computer technology seamlessly throughout the lending process -- particularly at the front end -- achieved higher productivity. Last year's comparative program included 13 major banks and global financial services organizations. What emerged was a clear picture that those who used technology most efficiently had electronic transfer of information from the receipt of an application all the way through the discounting and funding process, with little or no paper trail and without employees rekeying In cryptography, rekeying refers to the process of changing the encryption key of an ongoing communication in order to limit the amount of data encrypted with the same key. information. Furthermore, the success of an organization's integrated use of technology - - in terms of productivity and cost -- was directly affected by how well the company identified its increased capacity; redeployed staff to areas needed; and streamlined its organizational structure  This article has no lead section.To comply with Wikipedia's lead section guidelines, one should be written. . "By reviewing the best practices of others in the industry, banks and captive finance companies Captive Finance Company A subsidiary whose purpose is to provide financing to customers buying the parent company's product. Notes: The captive finance company is usually wholly owned by the parent company. in this program can begin improving operations by learning about an organization's success relative to its competitors and by discovering new concepts, procedures and technologies," said Walter Cunningham Ronnie Walter "Walt" Cunningham (born March 16, 1932) is a retired American astronaut. Cunningham was born in Creston, Iowa. After graduating from Venice High School (where he now has a building named for him) in California, Cunningham joined the U.S. , practice manager, indirect lending programs for BenchMark 2000. "They now have a way of measuring the potential effects of change, before investing the time and money in transforming their current operations." The BenchMark 2000 Indirect Lending program looks at the entire indirect lending process, including dealer relations, application processing, underwriting and buying, turnaround time (1) In batch processing, the time it takes to receive finished reports after submission of documents or files for processing. In an online environment, turnaround time is the same as response time. , discounting and funding, document management, customer service, end of term and vehicle disposal, and collections and recovery. Through benchmarking, participating financial services organizations have a basis for establishing realistic performance goals. BenchMark 2000's analysis takes into consideration such variables as different infrastructures, business processes, personnel, corporate culture and other unique characteristics of each participating organization. BenchMark 2000, an Atlanta-based subsidiary of The McGarvey Ross Companies, is the leading provider of process benchmarking and consulting services for banking and financial services organizations. BenchMark 2000 makes performance comparisons of multiple business processes for financial institutions participating in its various programs which include: consumer lending; indirect lending; non prime lending; commercial and small business banking. All of the top 10 commercial banks (asset size) in the U.S. are some of the more than 90 leading financial institutions which have participated in BenchMark 2000's benchmarking programs.
CONTACT: BenchMark 2000
Stevi Barber, 770/428-2487
or
Wind Rose Communications
Lorretta Gasper, 770/393-3350
windrosecomm@earthlink.net
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