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Wolters Kluwer Connects Independents
to Lenders via RouteOne

March 01, 2011

Wolters Kluwer Financial Services announced today that its AppOne platform will help independent auto dealerships connect with more lending sources through an expanded relationship with RouteOne LLC.

AppOne automates the indirect lending, credit approval, documentation compliance and risk mitigation processes for independent auto dealers and the lenders with whom they have an established relationship. RouteOne provides a free, online credit application management system for franchised auto dealerships and lenders.

The new relationship will enable independent auto dealers using AppOne to electronically connect with their subscribed lenders via the RouteOne platform. AppOne allows dealers to electronically submit loan applications to their lenders and print the complete, plain paper, electronic deal jacket all in one system. Previously, auto dealers using AppOne could only submit loan applications to lenders using AppOne’s complete suite of risk mitigation services.

“We are continually looking for new ways to improve our product offering to our network of more than 3,000 independent auto dealers, and RouteOne helps support this effort,” said Lee Domingue, CEO of indirect lending at Wolters Kluwer Financial Services. “This new integration provides dealers with a one-stop-shop solution that enables them to use the AppOne platform to do business with all of their lending partners, while simplifying compliance and loan documentation challenges.”

AppOne utilizes Wolters Kluwer Financial Services’ Bankers Systems retail installment contracts and ancillary documents to complete a loan package for motor vehicle transactions in electronic format at the point of sale. The contracts are maintained by Wolters Kluwer Financial Services’ compliance experts, who monitor legislative and regulatory changes affecting the indirect finance industry in all U.S. jurisdictions. The contracts are protected by the company’s limited compliance warranty.

“Lenders using the RouteOne platform can feel secure in knowing that AppOne dealers have gone through a comprehensive underwriting and vetting process, and have access to electronic loan documentation and compliance tools that help them meet industry regulations and lender requirements,” said Mike Jurecki, RouteOne CEO.  “This helps provide an added layer of protection and peace of mind to lenders wanting to do business with independent auto dealers.”

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