2024 has been an exciting year of growth, innovation, and collaboration. From forging new partnerships to advancing our platform’s capabilities, Dealertrack Canada continues to drive meaningful change in the automotive finance industry.
This year’s standout moment was welcoming Collateral Management Solutions (CMS) to the Trader Corporation family. As Canada’s leader in lien registry, insolvency, and recovery solutions, CMS enhances accuracy, efficiency, and fraud prevention across our offerings. Together, we’re building the most robust automotive dataset in Canada.
Fraud prevention continued to be a major focus for all of us this year. Several forums brought lenders and industry partners together to tackle challenges and share solutions. Most significantly, we partnered with Equifax Canada and Interac to introduce an industry-leading Identity Verification (IDV) solution, with a full rollout planned for 2025.
At the core of our approach is the commitment to understanding our customers and partners. As you will see below, collaboration and listening have been key to delivering impactful solutions and driving greater efficiencies.
At Dealertrack, we are the essential link between dealers and lenders, fostering connections that drive growth, innovation, and value across the industry. This year, we doubled down on collaboration, ensuring our initiatives directly benefit our partners and align with their needs.
In 2024, we introduced the Dealertrack Canada Loyalty Program, a new initiative to celebrate and reward dealer partners for their dedication and platform engagement. By recognizing and incentivizing loyalty, this program has driven tangible results, including increased dealer satisfaction and stronger engagement across the platform.
Through initiatives like this, Dealertrack ensures a more connected ecosystem, reinforcing the foundation that enables dealers and lenders to thrive together.
In 2024, we prioritized listening and collaboration to deepen our relationships with lenders and industry partners. We focused on understanding the challenges shaping our industry through dedicated forums and validating our solutions with direct feedback.
These sessions emphasized the importance of listening to our partners’ perspectives and fostering open dialogue. By addressing critical topics such as fraud prevention and data-driven operational security, we positioned ourselves as a trusted partner, responsive to industry needs. This approach has reshaped the dynamics of our partnerships, reinforcing trust and ensuring our solutions remain aligned with our customers' evolving priorities.
Dealertrack maintained a strong presence at major industry events, reinforcing our role as a trusted partner and thought leader. A highlight of the year was our two-day Lender Summit, reintroduced with over 60 attendees, where we shared valuable insights, validated product paths, and fostered strategic collaboration.
Additionally, we participated in several high-profile industry panel discussions, sharing expertise on critical trends and challenges shaping the automotive sector.
Our leadership extended beyond events, with Jill Hadfield, our President, joining the Board of Directors for the Canadian Finance & Leasing Association (CFLA), underscoring our deep commitment to shaping the industry’s future. Through strategic sponsorships and speaking engagements, Dealertrack continues to deliver unique insights spanning consumers, dealers, lenders, and partners.
Our commitment to industry engagement is about delivering tangible value to every dealer and lender we work with. Whether through innovative programs, meaningful dialogue, or impactful insights, Dealertrack is dedicated to empowering our partners and strengthening the bonds that drive the industry forward.
At Dealertrack, we continue to lead the way by delivering innovative tools, actionable insights, and meaningful collaboration that empower our partners to succeed.
This year, Dealertrack, in collaboration with AutoTrader and AutoSync, introduced Pre-Qual on AutoTrader.ca — a seamless, integrated tool designed to empower consumers to shop by payment and affordability early in their car-buying journey. By offering personalized insights, Pre-Qual not only enhances the customer experience but also bridges the connection to conversions, delivering high-quality leads to dealers.
As the only provider capable of delivering this integrated pre-qualification solution, Dealertrack uniquely connects consumers, dealers, and lenders through a streamlined approach. While yet to fully launch across all lenders, Pre-Qual is already improving lead quality and efficiency, redefining the car-buying process for all stakeholders.
Our platform remains a data powerhouse, enabling smarter decisions and fostering collaboration. With over 1.2 billion data points powering actionable insights, we help our partners enhance decision-making and forecasting. The return of our annual Lender Summit further showcased our commitment to collaboration, with two days dedicated to discussing data-driven trends, product planning, and aligning with lender priorities.
Quarterly Price Index updates have continued to provide critical inventory insights to our partners, while our advancements in fraud prevention — leveraging AI techniques and CMS data integration — are laying the groundwork for even stronger strategies in 2025.
We are deeply committed to safeguarding the trust of our partners by delivering industry-leading security and compliance measures.
In 2024, Dealertrack introduced several key enhancements to strengthen platform security. Multi-Factor Authentication (MFA) and Single Sign-On (SSO) have made the login experiences safer and more seamless, while strengthened password policies and email verification have added an extra layer of protection. Geo-fencing technology now restricts unauthorized access, helping safeguard sensitive information for our users.
Building on last year's SOC 1 Type 1 certification, we are advancing toward SOC 2 Type 2 compliance. By meeting the highest operational and security standards, we're reinforcing our dedication to delivering the reliability and protection our partners expect and deserve.
This year, we made critical investments to enhance the stability and reliability of our platform, ensuring a smoother experience for our lenders, dealers, and partners. By improving our monitoring tools and leveraging deeper insights into system performance, we’ve become more proactive in identifying and addressing potential issues before they impact your workflows.
Additionally, we’ve strengthened our team’s ability to manage these tools effectively, ensuring the platform meets the highest standards of reliability. This has led to fewer incidents, allowing us to focus on meaningful innovation of our all-around offering.
Looking ahead, we remain committed to further strengthening our platform, building on your trust in us, and delivering consistent value and support for your business.
At Dealertrack Canada, we are continuously evolving our platform to modernize the financing process and bring greater efficiency, simplicity, and value to our partners.
We made a significant leap forward with the introduction of our flexible e-signature solution for digital contracting. This innovation empowers dealerships to offer a seamless and fully digital financing process, simplifying complex tasks, reducing errors, and enhancing the overall customer experience. Dealers can now guide customers through signing contracts in-person or remotely, providing increased flexibility to complete transactions anytime—eliminating the need for printing and streamlining the process.
Enhanced features like conditional submit and our new document override functionality have further streamlined the process, allowing dealers to resolve errors and move contracts forward without delays. These updates are modernizing the financing journey, creating significant time-saving efficiencies for dealerships and lenders.
To further support operational efficiency, we introduced bulk upload functionality, saving lenders valuable time on program submissions. Additionally, our Monthly Program Management Report provides deep insights into submitted and funded applications, empowering our partners to make data-driven decisions and expand their areas of opportunities.
The revamped Credit Online platform debuted with a fresh, user-friendly interface, delivering a modernized experience for dealers, lenders, and consumers alike. This update emphasizes our commitment to enhancing the user experience by driving consumers through an easy-to-navigate flow that supports higher conversion rates compared to other lead types.
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