Wolters Kluwer Granted Patent for AppOne Solution
Wolters Kluwer Financial Services said the United States Patent and Trademark Office has granted a U.S. patent for its AppOne solution, which automates indirect lending, credit approval and compliance processes for independent automobile dealers and the lenders that serve them.
BATON ROUGE, La. — Wolters Kluwer Financial Services said the United States Patent and Trademark Office has granted a U.S. patent for its AppOne solution, which automates indirect lending, credit approval and compliance processes for independent automobile dealers and the lenders that serve them.
The patent (U.S. Patent Number 7,734,530) recognizes AppOne’s method and corresponding software program for handling vehicle sales, which traditionally have required many individual transactions in order to complete the sale of a vehicle. The patent cites AppOne’s “much-improved mode of handling the acquisition process” by unifying the transactions, mitigating risk, and decreasing complexity and costs associated with indirect auto lending. It also notes that AppOne’s method offers dealers full-spectrum lending options and helps financial institutions increase loan portfolio performance.
“Our continued focus is to facilitate auto lending transactions while helping ensure compliance, simplify loan documentation and combat fraud,” said Lee Domingue, CEO of indirect lending at Wolters Kluwer Financial Services. “This patent is a great achievement. It affirms the unique value that AppOne brings to the indirect auto lending market and its ability to offer a ‘one-stop shop’ for independent dealers, lenders and service providers.”
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