Auto Finance Summit (AFS)
Wynn Hotel Las Vegas, Nevada
October 24 – 26, 2018
California Financial Services Association (CFSA)
Ritz Carleton Laguna Nigel Dana Point, California
October 4 – 6, 2018
PASSTIME AND MEGASYS ANNOUNCE INTEGRATION PARTNERSHIP
LITTLETON, Colorado—May 16, 2018—PassTime®, a leading provider of GPS Solutions and Megasys, a leading provider of complete loan servicing systems for the consumer finance industry announced today the companies have completed a software integration project.
With the new integration project complete, customers will be able manage their PassTime GPS products using the Megasys *Omega Originations & Servicing System*. This will streamline the process of setting up new accounts and performing many of the PassTime system functions from one system.
“We are proud to add Megasys to our growing list of integrated DMS partners. They are certainly one of the best in the industry,” said PassTime President and COO Chris Macheca.
Buy-Here-Pay-Here dealers and finance company customers use PassTime’s GPS solutions to protect their assets, enhance collection processes and reduce delinquencies and repossessions. PassTime, which has been in business for over twenty five years, prides itself on providing high-quality and reliable products to the vehicle financing industry along with unmatched 24/7 live customer care for its customers and consumers.
Clients will be able to manage an asset directly within the Megasys Originations and Servicing systems. The seamless real-time integration allows customers to perform several PassTime functions including location, enable/disable and notification services.
“We are excited to partner with such a reputable company in the industry,” said Theo Austin, President & CEO of Megasys.” The integration with PassTime was developed to support customer demand for Megasys clients that have been utilizing their services.
The companies mentioned that the integration is complete and is commercial available.
For more information please contact PassTime at 877-727-7846 or info@passtimegps.com
About PassTime
PassTime GPS has been in business for more than 25 years in the global transportation industry. Its wireless GPS telematics products are available for multiple sectors of the automotive industry including auto dealers, auto finance companies, auto leasing companies, insurance companies and fleet transportation providers. Its products are available in the USA, Canada, Europe, Latin America, Asia Pacific and the Middle East. The company designs, engineers, manufactures and distributes its own products and has more than 25 patents protecting its technology.
About Megasys
Megasys is the leader in complete loan servicing systems for the consumer finance industry for over 35 years. Megasys provides customizable software platforms for finance companies of every size, from startup businesses to major corporations. Their clients service 2 million active accounts and have processed over 1 million applications, with $8 billion in transactions. Omega is a user–friendly browser–based solution that streamlines account servicing operations. Their total solution includes loan origination, loan servicing, collections, reporting, and document storage. Omega includes integrated and intuitive General Ledger and Accounts Payable systems with drill–down capability, making Omega the most complete package available for a consumer finance company.
MEGASYS PARTNERSHIP WITH DEALERTRACK EXPANDS TO INCLUDE LOS INTEGRATION
Megasys Partnership with Dealertrack expands to include LOS integration for faster loan decisions with auto dealers in addition to expedited Auto Title Management
ORANGE, Calif.—April 25, 2018 – Megasys, Inc., the leading provider of complete loan servicing systems for the consumer finance industry, announced today a new facet of their integral partnership with Dealertrack. The latest partnership integration quickens the indirect loan decisioning process with dealers utilizing Dealertrack’s industry-leading Credit Application Network solution.
Megasys already relied on Dealertrack to manage the Electronic Lien & Title (ELT) process for their lenders, where state mandates require both dealers and lenders adopt a fully digital titling solution between them and their governing DMV office. Megasys chose Dealertrack as their preferred ELT provider because of the ease of integration along with perfecting capabilities that speed the entire application-to-title process and lien/title management that helps mitigate fraud risk.
Now with the same ease of integration for the F&I portion of Lenders’ auto lending processes, the Omega Loan Origination System has improved service for their subprime automotive lenders by automating the credit application delivery and decision process to provide real-time approvals, declines and counter-offers back to dealers.
“The vast majority of dealers in the subprime finance industry use Dealertrack’s Credit Application Network,” said Theo Austin, President of Megasys, Inc. “We are excited to expand our partnership with such a trusted industry leader. This Dealertrack integration supports our growing customer demand to provide seamless integration to streamline the credit application process.”
“By integrating with Megasys’ Omega LOS, Dealertrack’s network of lenders can receive credit applications from their dealers in real time and return automated decisions – cutting down time consumers must spend in the F&I office,” said Cheryl Miller, Vice President & General Manager of F&I Solutions at Dealertrack, a Cox Automotive brand. “This drastically improves satisfaction with the entire buying process.”
For more information about Dealertrack, visit www.Dealertrack.com.
About Megasys
Megasys is the leader in complete loan servicing systems for the consumer finance industry for over 35 years. Megasys provides customizable software platforms for finance companies of every size, from startup businesses to major corporations. Their clients service 2 million active accounts and have processed over 1 million applications, with $8 billion in transactions. Omega is a user–friendly, browser–based solution that streamlines account servicing operations through loan origination, loan servicing, collections, reporting, and document storage. Omega includes integrated and intuitive General Ledger and Accounts Payable systems with drill down capability, making Omega the most complete package available for a consumer finance company. For more information please visit www.megasys.net .
About Dealertrack
Dealertrack is the leading provider of digital solutions to the automotive retail industry. Whether you’re a dealer, a lender, a manufacturer, or a state agency, our integrated and intuitive approach to products and services makes your workflows more efficient, transparent, and profitable. From our pioneering Digital Retailing tools—bridging the gap between the online and in-store experience—to our lender network (the largest in North America), Dealertrack is the only company helping enable the transformation of auto retailing. Dealertrack is a part of Cox Automotive. For more information please visit www.coxautoinc.com.
Official Release Article: http://www.prweb.com/releases/2018/04/prweb15438834.htm
STOP BY THE MEGASYS BOOTH – AFSA INDEPENDENTS 2018
Megasys looks forward to visiting with you at the 2018 AFSA Independents Conference and Exposition!
AFSA Independents Conference & Exposition April 24-26, 2018
Marriott Harbor Beach Resort, Ft. Lauderdale, Florida
Please stop by our booth to learn more about the Omega System Solution and your Chance to Win a $200 Visa Gift Card!
Click below for Omega System features:
MONTH END SATURDAY SUPPORT DATES
When a month end falls on a weekend, your month end processing will often be scheduled for that Saturday. Megasys provides support on those Saturdays from 7:00 am – 12:00 pm PT for month end specific support and emergency situations.
The 2018 Saturday Support dates are:
March 31st
June 30th
If you have any questions please contact Support at 714-952-9554
VISIT THEO AT THE AFSA VEHICLE 2018 CONFERENCE!
Theo Austin, President & CEO is attending the AFSA Vehicle Finance Conference, March 20th-22nd, at the Bellagio, Las Vegas, Nevada.
Theo looks forward to his annual visit with customers. This is also a great opportunity for you to learn more about the Omega Loan Servicing Solution. Please make sure to visit with Theo!
Please click here to learn more about Omega:
MEGASYS COMPLETES SSAE 18 SOC1 ASSESSMENT
Megasys has successfully completed the SSAE 18 assessment and has been awarded compliant assessment following an intensive, independent review by Elliott Davis, a national accounting firm.
The SOC 1 audit (part of SSAE 18) is widely recognized for the intensive scrutiny it puts systems of the organization, through, in terms of their control activities related to business processes, which are relevant to user entities’ internal control over financial reporting. The SSAE 18 audit is the new standard and supersedes the SSAE 16 report. The major changes present in SSAE 18 include:
Vendor Management
Complementary Subservice Organization Controls
Written Assertion Requirement
MUG 2019 – SAVE THE DATE!
We are pleased to officially announce the 2019 Megasys User Group Conference!
Wednesday, May 15 – Thursday, May 16
Renaissance Long Beach Hotel
Long Beach, CA
Below is the outline for the upcoming MUG event:
Wednesday, May 15th – Meet & Greet (cocktails/appetizers) – Network with Megasys leadership team, fellow system users, and an opportunity for a one-on-one with industry partners!
Thursday, May 16th –Full day of meetings, including industry topics, a served lunch and evening cocktail / appetizer reception.
We will provide an update once we confirm agenda topics and all the finer details.
MUG Registration Info:
In February 2019, we expect to begin registration for the event. This will include hotel reservation booking information for special MUG conference rates.
Renaissance Long Beach Hotel
WE LOOK FORWARD TO SEEING YOU THERE!
OMEGA – 2017 REFLECTION
With now over 70 installations, 2017 celebrated another successful year of Omega customer base growth. The Megasys User Group event held in June was an integral part of our growth through user participation and great system feedback. We enhanced features with current partner integrations, added new features, and implemented key enhancements to improve the Omega System experience.
The most significant change was the release of the new Omega user interface, which simplified the menu system and modified the main account view, taking advantage of additional screen width.
Heading into 2018, we will continue adding new functionality that will keep us on the leading edge of technology. Several new partner integrations and key features are also expected for release.
Megasys would also like to extend a heartfelt welcome to the newest Omega customers that helped shape our year:
Foti Financial Group
Midwest Acceptance
Platinum Auto Finance
Premier Acceptance
RedRock Financial
Southeast Auto Financial
Thrift Investment Corporation
If you’re interested in learning more about the Omega Originations and Servicing System, please contact us at 800-927-4490, or email us at sales@megasys.net. We’d love to hear from you!
Happy New Year!
OMEGA OFFERS SAME AS CASH CONTRACTS!
Omega now supports the capability to service Same as Cash contracts (also known as “SAC”) for direct and indirect loan types. This promotional feature allows a customer to avoid any interest charges if an account is paid off by a certain date.
Contact Megasys Support for details at 714-952-4490 or support@megasys.net
THANK YOU FOR ATTENDING MUG 2017
We would like to thank you for making MUG 2017 a successful event. We appreciated the valuable time spent with clients and associate vendors. If you would like to view our MUG 2017 Gallery of photos, please go to our Facebook page and give us a Like! https://www.facebook.com/megasysinc/
MEGASYS TEAMS UP WITH PAYMENTUS TO DELIVER INTEGRATED PAYMENT SOLUTIONS
Megasys has partnered with Paymentus, an established leader in payment solutions.
The partnership will provide Megasys FA System clients with quick and efficient access to payment processing across a wide range of payment options throughout the United States and Canada. Megasys and Paymentus integrated services for FA clients include sending an automated daily customer information file, pulling payment files, and mass posting of payments to their accounts.
Paymentus payment options include:
ACH recurring and one-time payment processing for checking, savings, debit and credit card transactions
Online Pay
IVR / Automated Phone Payments
Get the Paymentus Advantage:
Delivers quality and cost-effective services that require minimal business resources
Real-time data with simplified reconciliation for all payment channels and payment types.
PCI compliant to ensure security, consistency and predictability
No Megasys setup or recurring fees for new subscribers! *
* A separate agreement is required with Paymentus and your fees will be paid directly to them.