"We are pleased to add Wachovia Dealer Services to our platform," said Lee Domingue, AppOne's CEO. "Expanding our lender network helps ensure dealers can find financing options that best fit their customers' needs."
The addition of the nation's fifth-largest auto finance company is only the latest news from AppOne, which has already had a busy 2009. Last week, the platform added its first credit union. In February, the company partnered with GDNAuto to launch a new platform for dealers to market their in-house financing portfolios.
AppOne provides risk mitigation, compliance and automotive-related finance technology to lenders and independent auto dealers throughout the continental United States. The company helps lenders manage relationships with independent dealers that typically do not have the same financial, technological and staffing resources that larger franchise dealerships do to meet compliance standards.
"Our goal is to help independent dealers simplify administrative and compliance tasks, which ultimately benefits the lender purchasing contracts from these dealers," Domingue said. "At the same time, independent dealers gain access to full credit spectrum financing."