AppOne’s technology, which automates the indirect lending, credit approval and compliance processes for lenders and dealerships, will help independent auto dealers connect with ASI online when seeking financing for their customers. It also provides risk mitigation services and loan documentation to help ASI simplify the auto finance process and help ensure accuracy and compliance.
This new relationship will also help ASI offer expanded services to its members. ASI is a certified Community Development Financial Institution (CDFI), which has a primary mission of community development in economically distressed and financially underserved communities.
“AppOne provides an avenue to expand our services and finance more auto loans for our members while minimizing risk and challenges related to regulatory compliance,” said Bertha Montenegro, senior vice president of lending at ASI.
“AppOne focuses on dealer underwriting, risk mitigation, documentation and funding packages so ASI can focus on making sound credit decisions for its business,” said Lee Domingue, CEO of indirect lending at Wolters Kluwer. “At the same time, we can offer another credible lending source in geographic markets that are important to our independent dealer customer base.”
ASI serves individuals in the southeast Louisiana communities of Westwego, Bridge City, Waggaman, Avondale, Gretna, Harvey, Marrero, South Kenner, Orleans Parish, Lafourche Parish, Evangeline Parish, St. Charles Parish and St. Tammany Parish.