Skip to main content

Press Release: Auto Link Patent Pending




 

Auto Link Newsletter


NEW ORLEANS, LA. — Auto Link announced today that the company has filed with the US Patent & Trademark Office for a patent that covers the ability to seamlessly embed a third-party, white-label website into a host website.

The normal method of embedding a third-party web content into a host website is using an iframe.  However this method is not seamless and introduces several inconveniences and difficulties for the end-user, as well as obvious visual cues indicating the content is from a third-party.

The patent application is for a system and method that, among other things, places all the typical auto research, buying, and financing tools seamlessly on the Credit Union's website and out of the view of the internet advertising companies such that the Credit Union may be competitive in the auto lending market and achieve its mission of enhancing the financial well-being of its members.

The internet has caused a significant paradigm shift in how consumers research, buy, and finance vehicles. A typical consumer today will spend ten or more hours online researching prior to buying a vehicle. Consumers are bombarded with auto loan and finance options while performing this research, and many of these finance options come with instantaneous approval. Additionally, cookies from various automobile research sites are placed on the consumer's internet device, which further instructs banners on webpages how to gear their ads. As a result, the majority of auto loans are now made via the internet and at auto dealerships where the financing and auto protection products are not as consumer friendly as they would be at a Credit Union.

“The internet is here, it's real, and consumers are increasingly using the internet for shopping for everything from clothes, to homes and cars,” said Auto Link CEO Edward Bourgeois.

Bourgeois said this patent is a step towards preventing credit unions with more limited resources than big fin-tech companies from going the way of organizations like Blockbuster that refused to embrace new technologies.

“As a technology and marketing company, with a specific goal of keeping Credit Union's relevant and competitive in the auto finance space, we are excited to be able to quickly and seamlessly bring our patent pending Auto Link Solution to credit union's nationwide; guaranteeing their member-owned competitive advantage will survive and thrive in the new auto lending paradigm,” said Bourgeois.

About Auto Link

Auto Link offers a best in class solution for credit unions of all sizes looking to have a more successful and profitable auto-lending program, including those that do indirect auto financing. Auto Link provides a complete auto lending solution from web interface, marketing library, social media portal, training tools and analytics to a built-in loyalty feature. Each member that finances a vehicle at an Auto Link credit union, automatically receives a myEZ Car Care membership filled with discounts at over 10,000 locations nationwide and an Electronic Glove Box® desktop and mobile app.



Comments

Post a Comment

Please no profanity or political comments.

Popular posts from this blog

The Case for Sharing a CEO Between Credit Unions

  Embracing Collaboration: The Case for Sharing a CEO Between Credit Unions In recent years, credit unions have faced numerous challenges, from regulatory pressures to evolving member expectations. As many seasoned leaders retire, smaller credit unions often find themselves at a turning point. In this landscape, one innovative solution is gaining traction: sharing a CEO between two credit unions. This approach not only addresses financial constraints but also fosters collaboration and enhances service delivery. The Rationale Behind Sharing a CEO 1. Financial Sustainability One of the most pressing concerns for small credit unions is maintaining financial health amid rising operational costs. A shared CEO model alleviates the financial burden of hiring and compensating a full-time executive. By splitting salary and benefits, both credit unions can allocate resources more effectively, allowing for investment in member services, technology, and community initiatives. ...
Post a Comment
Read Complete Article HERE>»

Reading Up On Recessions

  Reading Up On Recessions       Background Stemming from the Latin word “recessus” (meaning “a retreat”), recessions are  sustained periods  of declining activity in a country’s economy. During a recession, unemployment rises while economic output falls across a large swath of industries. Recessions are inevitable in modern economies, with one occurring about every six to seven years ( What causes recessions ?).   One common definition of a recession is when a country logs two consecutive quarters of shrinking gross domestic product, but in practice, ...
Post a Comment
Read Complete Article HERE>»

Sunday Reading - Landmine Rat Honored

  Landmine Rat Honored   Cambodia unveiled the world’s first statue honoring a landmine-detecting rat (w/photo) Friday. Magawa the rat lived to 8 years old and identified more than 100 landmines and other explosives from 2016 to 2021.  There are more than 100 African pouched rats deployed in landmine detection operations across the world. To identify mines, the rats are trained to sniff out explosive compounds like trinitrotoluene, or TNT. (The rats are not heavy enough to trigger detonation.) In Cambodia, up to 6 million landmines remain undiscovered, most planted during three decades of conflict, from the Vietnam War era through Cambodia's civil war . Since 1979, roughly 20,000 people have been killed in Cambodia, and roughly 40,000 wounded as a result of the mines. Magawa cleared more than ...
Post a Comment
Read Complete Article HERE>»

Sunday Reading - The gold standard, explained

  Gold Standard       The gold standard, explained A gold standard is a system where a country’s currency is pegged to, and can be converted into, a fixed amount of gold. It’s typically meant to create a sense of security in the country’s currency: When a government uses a gold standard , its currency can be exchanged for an equivalent amount of gold—although regulations around redemption vary by country.   After the Civil War, in 1873, America adopted the gold standard for the first time. At the time, if gold was priced at $100 an ounce, each dollar  rep...
Post a Comment
Read Complete Article HERE>»

Open Banking Pushes Leading Credit Unions Ahead In Race For Member Loyalty

  https://youtu.be/pUIV8hwSDCE NEW YORK—Credit unions that embrace open banking aren’t just keeping pace with competitors—they’re pulling ahead, new data show. A new report finds that innovation in digital tools and personalized experiences is emerging as the decisive factor separating credit unions that win lasting member loyalty from those at risk of losing ground. “ The 2025 Credit Union Innovation Readiness Index: Closing Gaps, Winning Members ,” a June report produced in collaboration between  Velera  and PYMNTS Intelligence, underscores innovation as a defining factor for credit union success. iStock-Korakrich Suntornnites “Facing shifting expectations from both consumers and small to medium-sized businesses (SMBs) toward digital convenience and tailored experiences, credit unions must modernize not just to compete with traditional banks, but to remain relevant to their members. The report, based surveys of 500 credit union executives, 15,000 U.S. consumers, and nea...
Post a Comment
Read Complete Article HERE>»

Long-Stalled Credit Card Competition Act Moves Forward In Senate Clarity Act Markup

WASHINGTON—A long-stalled bipartisan push to boost competition in the credit card market moved closer to becoming law late Friday, as Sens. Roger Marshall (R-KS) and Dick Durbin (D-IL) advanced a new amendment attached to the Senate Agriculture Committee’s markup of the Digital Asset Market Structure and Investor Protection Act, commonly known as the Clarity Act. Dick Durbin The amendment, a core component of the long-debated Credit Card Competition Act, would prohibit major credit-card networks and large issuing banks from enforcing network exclusivity on credit cards. Supporters argue the measure would expand transaction-routing competition, weaken the dominance of the largest payment networks, and reduce swipe fees that merchants say inflate consumer prices. The renewed momentum reflects President Trump’s recent backing of efforts to rein in credit card costs, a shift that has altered the political trajectory of legislation that has struggled to advance in prior Congresses. With Tru...
Post a Comment
Read Complete Article HERE>»

USPS Defends Banking Pilot, While Opponents Call It Illegal

  By David Baumann - July 11, 2022 Program has faced opposition from the outset, including from credit union groups, and has struggled to gain real traction. The U.S. Postal Service (USPS) argued this week that the controversial pilot program it is operating i...
Post a Comment
Read Complete Article HERE>»

Meet Spokane Firefighter Credit Union (SFCU) New President/CEO - Troy Clute

Meet SFCU's New President/CEO - Troy Clute  Troy Clute serves as the President and Chief Executive Officer of Spokane Firefighters Credit Union, bringing 29 years of experience in banking and finance. His career includes extensive leadership roles across the industry, with a strong foundation in consumer lending and member-focused financial services. Troy is a graduate of the renowned CUES CEO Institute Program, having earned the Certified Chief Executive (CCE) designation—one of the highest leadership credentials in the credit union movement. His leadership is defined by strategic vision, operational excellence, and a deep commitment to serving Spokane’s firefighter community and their families. Beyond his professional role, Troy values family above all. He and his wife, Karri, have been married for 36 years and share two grown children, Kellen and Kennadie, as well as three grandchildren—Tyus, Izze, and Major—who keep life joyful and full of adventure. When he’s not leading the c...
Post a Comment
Read Complete Article HERE>»

The impact of recent bank failures could impact credit unions.

The failures of Silicon Valley Bank (SVB) and Signature Bank, combined with the FDIC’s decision to cover all depositors could have an impact on credit unions. With over 93% of their deposits uninsured, SVB appears to be the poster child for poor strategic planning. The bank got caught short when the Fed raised rates. For credit unions, the real story is the decision to cover ALL accounts regardless of the amount in the account. Where is the threat to credit unions? Credit unions had no role in the failures of SVB and Signature Bank. The threat lies in the Treasury and FDIC’s decision to guarantee the funds in every account…no matter how much was in that account. While the Treasury Secretary and FDIC Chairman Gruenberg may have felt the need to do so to restore confidence, this action just kicks the can down the road. And the road will have no end if NCUA feels the pressure to do the same thing if a similar situation hits the credit union movement. Should there be a conservatorship or...
Post a Comment
Read Complete Article HERE>»