AppOne automates the indirect lending, credit approval and compliance processes for lenders and the auto, RV and marine dealers they work with.
Currently, Grow Financial Federal Credit Union also relies on the company’s electronic forms to help maintain compliance with mortgage and individual retirement account (IRA) transactions.
According to Wolters Kluwer, AppOne will help Grow Financial expand its indirect lending services to more independent auto dealers within its lending footprint in Florida.
Using AppOne’s technology, Grow Financial can find independent auto dealers who meet requirements of its program.
Additionally, using AppOne’s proprietary dealer underwriting and scoring system, the credit union will be able to better determine the level of risk associated with each dealer relationship, claims Wolters Kluwer.
Grow Financial Federal Credit Union VP of consumer lending Clare Early said as Grow Financial looked to expand its indirect lending business to more independent auto dealers, it was a natural next step to implement AppOne, which makes the auto loan process more efficient and helps us mitigate risk.
