iNDICA NEWS BUREAU-
An Indian American auto industry veteran has joined DCR Technologies as its co-founder and chief operating officer.
Vijay Patil, who has 2 decades of experience in managing risk, running credit operations and developing business strategies for global brands, has decided to apply his expertise in a new direction.
The three-year-old DCR Technologies is a Software-as-a-Service (SaaS) platform that aligns all deal stakeholders on a single, streamlined credit collaboration platform.
With DCR technology, the customers can apply for financing from their mobile phones while interacting with dealers, lenders and other stakeholders via text messages.
“With nearly $1.7 Trillion annual sales, the opportunity to improve financing experience for hard-working farmers and business owners is huge”, said Vijay Patil, Co-founder, and COO of DCR Technologies (Dealer Credit Resources, Inc.), a technology startup based in Southern California.
Patil continued, “simple things like using a common platform to submit financing applications to multiple lenders is non-existent”.
Banks and captives make up the lion’s share of financing, with Bank of America Global Leasing, Wells Fargo Equipment and John Deere accounting for nearly $140 Billion in assets.
The company is expanding its leadership team to meet the demand for its Digital Retailing and Credit Desk Pro platform, a configurable SaaS origination hub that enables commercial equipment dealers, lenders and buyers to interact seamlessly on a single digital platform.
Patil’s most recent stint was as a founding member of Yamaha Motor Finance USA. Prior to that, he was head of credit of Mitsubishi Motors Credit of America and vice president of risk management of HSBC Auto Finance USA.
“Innovation generally moves from one industry to another,” said Patil “what is part of a daily life in one industry could be a dream for other”. He was referring to the Auto Finance industry where the car financing process is efficient for Auto dealers and Auto Finance companies.
“Vijay is a visionary leader who recognized the inevitable conversion to digital sales processes across all industries. He understands technology, operations, credit risk management and the importance of enhancing the user experience in today’s changing markets,” said Beckham Thomas, founder and CEO of DCR.
“He has been collaborating with DCR since its inception and now we are extremely delighted to have him join our team on a full-time basis.”
At DCR, Patil will be responsible for leading revenue-generating activities, managing the DCR dealer network, spearheading business operations and developing growth strategies.
DCR’s team of experts in credit, finance, marketplace solutions, machine learning and artificial intelligence is digitizing the process to bring efficiency and convenience to all parties involved in an equipment sales transaction.