I A Strong Solution for INDIANA’S ELECTRONIC LIEN & TITLE LAW BY ROD LASLEY, INDIANA BANKERS ASSOCIATION In 2022, the State of Indiana instituted Phase I of electronic lien & title filing. With this implementation, the IBA selected and endorsed DDI Technology as a Preferred Service Provider. Since the selection, over 50 Indiana banks have signed up and are utilizing DDI’s services. If you are not currently a user of DDI, the IBA encourages your bank to review DDI’s services and pricing when your existing contract comes up for renewal. They provide a web-based solution for banks to use to comply with Indiana law, allowing banks and other companies involved with motor vehicle titles to manage and store those titles electronically. This solution is designed to: ▶ provide a simpler and more timely titling process; ▶ reduce fraud and errors; ▶ eliminate paper storage; and ▶ provide responsive customer support. These things will maximize the benefits of an electronic tracking system that will ensure collateral is protected in a much quicker manner. DDI is a South Carolina-based company founded in 1998 and a subsidiary of Insurance Auto Auctions Inc. DDI works with over 7,000 customers in all 50 states and has approval to serve the 28 states that currently allow electronic lien and title services. DDI has an office located in Indianapolis with two representatives serving Indiana. They differentiate themselves from the competition with their ability to customize their systems to match the bank’s internal processes and requirements. DDI has a mission to provide the highest quality titling and registration solutions to customers while maintaining a relentless focus on customer service. Premier eTitleLien is the web-based platform used by DDI that creates efficiency and provides cost savings and fraud prevention in the motor vehicle title management space. This allows the bank to receive notifications and electronic copies of the title directly from the Bureau of Motor Vehicles while also interfacing with the bank’s existing loan system. In addition, it streamlines the lien release process. The lienholder automatically updates the eTitle database with planned liens while the product also checks the eTitle database for lien alerts when new liens are initiated. It also provides VIN verification of motor vehicles. Most liens will be perfected in a 3-5 business day timeframe, reducing the perfection time dramatically. The system will also maintain a history of all lien and VIN activity, including reporting capabilities regarding handling errors and exceptions between the bank and the BMV. The IBA has negotiated very favorable pricing for the use of this opportunity. IBA members will receive a 20% discount on this service, reducing your overall cost and creating additional value in time saved. IBA members will also receive free onsite training of the program for your staff, which is another $300 in savings. The IBA is excited to provide this great solution to assist banks as they adapt to this new opportunity, approved by the state of PRODUCTS & SERVICES PROFILE 50 HOOSIERBANKER
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