Honda Financial Services (HFS) works with Securefact Transaction Services,
Inc. (Securefact) to Modernize and Streamline its Lien Registration Processes

HFS is first Major Canadian Automotive Captive Finance Provider to embrace more efficient and cost-effective Securefact processing solution

TORONTO, May 5 /CNW/ - HFS, Canada's provider of automotive, motorcycle and power equipment financing and leasing solutions for Honda and Acura products today announced that they have successfully integrated Securefact's automated PPSA & RDPRM lien registration service. Securefact's technology has been in full operation nationwide at HFS facilities since April 1, 2010.

"Securefact's end-to-end, XML and web-service enabled, standards-based solutions allow us to more efficiently register, amend and discharge Personal Property Liens throughout Canada. We have chosen a hybrid solution that has allowed us to switch vendors with minimal disruption to our existing processes while improving our internal efficiency and effectiveness. This has been accomplished through better reporting and an increased ability to implement process improvements and business rules that reduce our reliance on manual tasks, shorten our processing times and enable better compliance with risk and privacy directives" said David Sudbury, VP and Chief Compliance Officer at HFS. Sudbury added that, "Securefact's technology and operations teams have shown both willingness and a demonstrated ability to work with our risk, technology, business and customer service teams to ensure that all processes are operating at peak efficiency".

"The successful rollout of Securefact's lien registration and management solution to HFS has accelerated wide acceptance of our more efficient and cost-effective solutions to the rest of the secured lending and banking industry," said Gabor Horvath, President and CEO of Securefact. "We are looking forward to working with Honda Financial Services to further increase process efficiencies and tighten business controls as these opportunities arise."

About Securefact Transaction Services, Inc.

Securefact is Canada's second largest provider of lien registration services to the Financial Services industry. Securefact offers a broad range of services to both secured lenders and regulated financial institutions such as LEV, its Legal Entity Validator service that provides real-time verification of commercial & business names and statuses for KYC (know your customer) purposes.

*Securefact is a registered trademark of Securefact Transaction Services, Inc. in Canada and the U.S.A.

For further information: Gabor Horvath, President and CEO at [phone] or [email protected]