Platform provides company with another channel for expanding its indirect lending services to auto dealers
AppOne automates the indirect lending, credit approval and compliance processes for lenders and the auto, RV and marine dealers they serve. CPS is an independent specialty finance company that provides indirect automobile financing.
AppOne will provide CPS with another channel for expanding its indirect lending services to independent auto dealers. AppOne’s proprietary dealer underwriting and scoring system helps lenders evaluate the level of risk associated with each dealer relationship. AppOne also integrates Wolters Kluwer Financial Services’ Bankers Systems motor vehicle retail installment contracts, which are protected by the company’s industry-leading compliance warranty.
“Our key focus is to help dealers find the most competitive programs and financing options available,” said Robert Riedl, chief investment officer at CPS. “AppOne supports that goal by helping us connect with more dealers across the country, while helping to alleviate compliance challenges associated with indirect lending.”
“CPS has built a strong reputation within the auto dealer community,” said Lee Domingue, CEO of Indirect Lending at Wolters Kluwer Financial Services. “We are confident it will be a valuable resource to AppOne’s network of independent auto dealers.”
About Consumer Portfolio Services, Inc.
Consumer Portfolio Services, Inc. is a specialty finance company engaged in purchasing and servicing new and used retail automobile contracts originated primarily by franchised automobile dealerships and, to a lesser extent, by select independent dealers of used automobiles in the United States. We serve as an alternative source of financing for dealers, facilitating sales to sub-prime customers, who have limited credit history, low income or past credit problems and who otherwise might not be able to obtain financing from traditional sources.
About Wolters Kluwer Financial Services
Wolters Kluwer Financial Services provides best-in-class compliance, content, and technology solutions and services that help financial organizations manage risk and improve efficiency and effectiveness across their enterprise. The organization’s prominent brands include Bankers Systems, VMP® Mortgage Solutions, PCi, AppOne®, GainsKeeper®, Capital Changes, NILS, AuthenticWeb™ and Uniform Forms™.