Wolters Kluwer Financial Services today announced an update to its AppOne platform to include multiple payment frequencies.
Previously, the software, which helps dealers standardize contracts and keep up with compliance, only accommodated a monthly payment frequency. Now, the solution supports alternative payment frequencies.
The improvement adds to the services Wolters Kluwer provides to dealers for “Buy-Here, Pay-Here” services, and other businesses who use varying payment schedules.
AppOne is a service connecting dealers with lenders to automate and streamline the indirect lending loan-origination processes. With the software enhancement, the platform offers increased simplification of the preparation of loan documents for “Buy-Here, Pay-Here” dealers, thereby helping ensure regulatory compliance, reduce costs and improve margins.
The AppOne platform allows standardization of contracts that are used by dealers, which helps ensure more compliant transactions when dealing with a wholesale buyer or lender for accounts receivable. The system serves both lenders and dealers because compliant document preparation functionality is a key tool in enhancing the compliance function within a dealership.
“We are excited about the latest enhancements to the AppOne platform, which allows us to expand our commitment to helping simplify complicated F&I functions and ease the overall compliance burden for our customers,” said Brad Fleener, senior director and general manager of Indirect Lending at Wolters Kluwer Financial Services.