Cox Automotive has named Nova Credit its preferred partner for embedded cash flow intelligence, beginning with the native integration of Nova Credit’s Income Navigator into Dealertrack, the Cox-owned credit application and digital contracting network.

“Bringing Nova Credit’s cash flow intelligence into Dealertrack gives lenders and dealers a near-time, automated way to verify income and reduce fraud inside the workflows they already use,” writes Cox strategist Andy Mayers in a release, which discloses that the company holds an indirect financial interest in Nova Credit through its Socium Ventures investment fund.

The integration allows Income Navigator to use bank, payroll and document data to verify income and clear stips within Dealertrack, replacing manual paystub collection and reducing underwriting review time. Executives say that will help finance sources return more personalized offers and fund deals faster without requiring dealers to change their existing workflow.

“Buying a car is one of the most important credit decisions in a consumer’s life, and getting that right quickly requires a complete picture of their financial health,” says Chris Hansen, head of strategic partnerships at Nova Credit.

Read more at Cox Automotive