Fiserv, Inc. (NASDAQ: FISV), the leading global provider of financial services technology solutions, today announced that Carolina Auto Auction, based out of Anderson, S.C., was named the top performing automobile auction of 2011. Carolina Auto Auction has been named one of the top three auto auctions in the nation by Fiserv for nine of the past 11 years and 2011 marks the fifth time it has ranked first.
In the automotive market, Fiserv provides solutions for loan and lease origination, account servicing, loss and risk mitigation, lease maturity management and vehicle remarketing to captive finance companies, banks, specialty lenders and credit unions. As part of its outsourcing model for auto finance lenders, Fiserv partners with auction groups to remarket off-lease and repossessed vehicles. Fiserv managed the remarketing of 42,000 vehicles in 2011.
Fiserv began ranking auto auctions in 2001 as a way to aid lenders seeking the greatest potential return on their outsourcing investment. Fiserv scores auctions to identify qualified partners. Rankings are tabulated to reflect overall customer service, operational efficiencies, sale preparation and marketing with the main emphasis on sales retention.
“Carolina Auto Auction continues to be one of our strongest auction partners,” said Megan Haley, director of remarketing strategies, Lending Solutions, Fiserv. “We trust Carolina Auto Auction to support our clients’ disposition needs in a proactive manner. Our partnership adds value to our overall remarketing program and helps our clients succeed.”
In its first year of eligibility for the Fiserv ranking, Indiana Auto Auction of Fort Wayne, Ind., placed second. Manheim Harrisonburg Auto Auction of Harrisonburg, Va., placed third. Manheim Harrisonburg Auto Auction has placed in the top three every year since the ranking began.
Fiserv also recognized the auctions that have achieved the highest rankings in customer service and operational excellence in 2011: