Wolters Kluwer Financial Services announced today that Bank of America's Dealer Financial Services unit will join its AppOne platform to automate and help simplify the marine and RV finance process.
Bank of America's Dealer Financial Services unit provides retail loan financing and commercial banking services to auto, marine and RV dealers across the U.S. AppOne automates the indirect lending process for lenders and dealers by providing credit application workflow automation and compliant document preparation.
AppOne enables lenders and dealers to more easily connect for applications as well as funding packages nationally. AppOne helps lenders and dealers deliver quicker application response times and faster loan transactions with its DocOneTM document printing engine and validation tool. DocOne allows dealerships to print loan documents from a standard color laser printer onto plain paper at the point of sale and finance at the dealership location. DocOne also helps ensure that loan documentation is accurate and compliant before reaching the lender for funding consideration. DocOne utilizes Wolters Kluwer Financial Services' Bankers Systems line of documents, which is built upon more than 50 years of experience and is protected by Wolters Kluwer Financial Services' industry-leading compliance warranty. DocOne provides data merging and population of these forms through a centralized Web-based delivery source.
"Not only does AppOne automate the finance and credit approval processes, but it also provides forms that are covered by the industry's leading compliance warranty to document every marine and RV loan," said Deborah Nunnally, SVP of Fulfillment at Bank of America's Dealer Financial Services unit. "Current and accurate loan documents that can be easily reviewed and processed help increase efficiency and improve the dealer/lender experience."
"Our relationship with Bank of America provides great opportunity for marine and RV dealers to simplify the lending process," said Lee Domingue, CEO of Indirect Lending at Wolters Kluwer Financial Services. "Dealers working with Bank of America are now able to more easily connect with this lender through the AppOne platform, which helps them serve their customers faster and more efficiently."