PEACHTREE CORNERS, GA – First Financial Asset Management (FFAM360), a best-in-class organization that provides customer-centric solutions that address all phases of the credit and revenue lifecycle, is proud to announce that they have acquired Independent Dealers Advantage, a family-owned and operated auto finance company that had been in business for approximately 20 years in Suwanee, GA, to strategically expand FFAM360’s footprint in the auto finance sector.
This acquisition, along with a much larger acquisition of the assets of an auto finance company out of Kentucky, will form the basis of the newest member of the FFAM360 Alliance of Companies—IDA Acceptance 360. FFAM360 provides comprehensive solutions for business process outsourcing, accounts receivable management, healthcare revenue cycle management, receivable purchasing and finance, and will now move into the auto financing industry with IDA Acceptance.
“This acquisition marks an exciting new chapter for not only the FFAM360 Alliance of Companies but also for hundreds of our clients and potential clients looking to leverage financing options to underserved consumers in the U.S. credit economy,” says President and Chief Investment Officer Matthew Maloney. “IDA Acceptance 360 highlights our eagerness to expand, grow, and build upon our position as leaders in all aspects of the receivable management industry.”
An Acquisition Born of Partnership
Six years ago, First Financial Asset Management and the FFAM360 Alliance of Companies made their first exploration into the auto finance industry. As they began buying and originating performing auto loans, FFAM360 entered into a strategic partnership with Independent Dealers Advantage. IDA, Inc. was founded in 2001 and remained family-owned and operated having helped provide auto finance solutions to over 10,000 customers.
Throughout the life of their partnership, FFAM360 has serviced and originated hundreds of millions in auto loans. FFAM360 helps their clients originate, onboard, monitor, process payments, manage collections, initiate recovery, and ultimately facilitate a true end-to-end communications approach throughout the life of the account. With the launch of IDA Acceptance 360, the FFAM360 Alliance of Companies can continue to provide world-class service throughout the entire credit life cycle to its clients and investment partners.
“We began FFAM360 in 2002 with a clear mission—to deliver revenue-cycle solutions to our clients that optimize their credit and revenue lifecycle through the deployment of our world-class people, operational best-practices, and next-generation technology, all of which are rooted with integrity, business continuity, and compliance,” Mr. Maloney says. “As we begin IDA Acceptance 360, we are proud to say that our mission, vision, and core values continue to energize and drive our team every single day.”
A Brand New Objective
As IDA Acceptance 360 begins to take its final shape, there are three key initiatives that will make up its primary objective:
1. Deal Directly With Dealers
IDA Acceptance 360 is not just about servicing and originating auto loans. The IDA Acceptance team will provide balance sheet financing directly to dealers, for various strategic purposes. FFAM360’s unique experience in all facets of the ARM industry puts it in a good position to not only help consumers obtain the necessary financing they need but also help dealers manage and secure their inventory.
2. Eliminating Boundaries for Subprime Borrowers
IDA Acceptance 360 will provide point of sale financing for underserved borrowers. As veterans of the ARM industry, FFAM360’s executive team has seen many companies tackle the subprime auto finance market. With the team’s extensive history of financial management, customer service, and consumer engagement, IDA Acceptance 360 can provide the tools needed to service underserved consumers with a myriad of innovative products and solutions.
3. Bulk Portfolio Exit Strategies
The third key initiative of IDA Acceptance 360 will be to provide bulk portfolio exit strategies for dealers and other finance companies holding their own auto loans on the balance sheet. This has been a core strategy for the FFAM360 Alliance of Companies over the last five years in the performing, subprime auto loan industry. Mr. Maloney adds, “By providing bulk liquidity options for dealers throughout the United States who have a need to generate significant cash flow, we believe our access to capital and the ability to execute transactions efficiently will bring tremendous value to our auto dealer partners and other finance companies.”
With three strategic goals to guide the newly formed IDA Acceptance 360, the FFAM360 Alliance of Companies looks forward to expanding its high-quality services to consumers along with continuing to deliver a wide array of exceptional full-service outsourced solutions for their clients.
“The future looks bright based upon the strategic growth initiatives implemented by the executive leadership team at the FFAM360 Alliance of Companies,” adds Matt Maloney.
Contact FFAM360 or IDA Acceptance 360 For More Information
To reach out to the newly formed IDA Acceptance 360 team about all of your auto financing needs, contact Katherine Oliver, VP and Chief Operating Officer at email@example.com, or call 678-735-5706.
About First Financial Asset Management (FFAM360)
The FFAM360 Alliance of companies deploys world-class people, operations, and technology to deliver revenue cycle solutions to their clients that optimize their credit and revenue lifecycles. Founded in 2002 with the vision of creating a best-in-class organization that provides comprehensive solutions across the Insurance Subrogation, Healthcare RCM, Financial Services, and Human Resource Staffing sectors, First Financial Asset Management has achieved many significant awards and recognitions including being honored by the Women’s Business Enterprise National Council (WBENC) as a Certified Women-Owned Business Enterprise. First Financial Asset Management is headquartered just outside Atlanta, GA, with additional offices in Phoenix, AZ, and Paso Robles, CA.