BATON ROUGE, La. — Wolters Kluwer Financial Services
announced Monday that 110-year-old Gulf South financial services leader Hancock
Bank has joined its AppOne platform, a technology solution that
helps connect lenders with automotive dealers.
With access to AppOne’s network of more than 3,000 auto
dealers, Hancock Bank, which has locations in Mississippi,
Louisiana, Florida
and
Alabama
,
will focus on building relationships with independent auto dealers looking for
finance sources within their geographic footprint. Wolters Kluwer will also
help Hancock mitigate risk associated with auto lending. AppOne’s proprietary
dealer underwriting and scoring system helps lenders determine the level of
risk associated with each dealer relationship. Additionally, it provides
compliant loan documents and automates the lending process, helping reduce
documentation errors.
“AppOne’s technology helps us grow our business, while
saving operational dollars and mitigating risk,” said Skip Cotaya, the senior
vice president who manages Hancock Bank’s indirect lending division.
“Ultimately, this makes it much easier for us to evaluate, book and fund auto
loans that fit well with our business and help us be more profitable.”
For dealers using the AppOne platform, the relationship with
Hancock provides opportunity to connect their customers with another strong
lending source. Hancock Holding Company, parent company of Hancock Bank, was
named one of “The Most Trustworthy Companies” in America
by Forbes this year.
“Hancock Bank has built a solid reputation in the financial
services community, backed by more than a century of experience,” said Lee
Domingue, CEO of indirect lending at Wolters Kluwer. “Our relationship with
Hancock is great news for AppOne’s independent dealers, who will benefit from
having access to another competitive lender in this region of the country.”