FinCo Management is a project and consulting practice which specializes in product development and marketing focused on the finance and data management sectors within the automotive retail market. The basis of our practice is the implementation of our “modified scientific approach” to problem solving combined with extensive market knowledge and experience. We create products and services which are simple in theory but complex in delivery, empowering and profitable to their users and vendors, and which defy the pundits who said that “it just can’t be done”.
By reducing every aspect of the target business to its most basic elements for analysis (the modified scientific approach), and then researching the vendors supporting either the targeted or similar industries, FinCo engineers solutions by applying proven technologies in innovative combinations. Once the solution is conceptualized, we seek and employ the best people, vendors and distribution channels as partners to deliver the working solution.
We believe in avoiding taking on unnecessary technological risks. This is not to say that we avoid developing new technology as a solution, if required. Minimizing development of new technology greatly reduces the business risk incurred delivering innovative solutions, especially the “time to market” and its associated monthly cash burn. Most of our solutions have employed existing technologies from segment leading vendors which are combined to deliver an innovative solution.
Recent Projects: Recent projects have been completed for companies such as J.D. Power and Associates, Adaptive Avenue (live inventory in searchable banner ads) and Miniter Insurance (dealer protection collateral insurance). Current projects include F&I Express, a web-service which provides E-quotes, E-contracts and E-Images to the automotive aftermarket, and our own VIN-based vehicle history database.
Prior to FinCo Management, Toby Reiley founded Monetrics, a company which replicates the human thought process to automate consumer credit decisioning. Monetrics is now owned by World Omni and JM Family, the distributors of Toyota and Lexus vehicles and financing in the South Eastern U.S.
Another recent company created by Toby Reiley and Chris Dowd, Dealer Finance Technology, perfected a process to allow car dealers to be their own “virtual” lenders, meaning they lend their own money while the company takes on all of the responsibility for the underwriting, origination and servicing of the lender or dealer owned loans. This company, which neither lends it’s own money nor takes any credit risk, proved to be very profitable in the test market (2006, New York City), and has been “put on hold” until the end of the sub-prime market melt-down.
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I was in Chicago earlier today for a meeting and now I am at my hotel in Detroit... When I got into my room and logged in to ADM a moment ago, I was pleasantly surprised to see that we are now at 418 automotive professionals who have joined the ADM Community!
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