AppOne Platform Helps Support Bank’s Entrance Into Personal Watercraft and Powersports Lending
MINNEAPOLIS, MN – September 14, 2011 – (Motor Sports Newswire) – Wolters Kluwer Financial Services announced today that MB Financial Bank is expanding its use of the Wolters Kluwer Financial Services AppOne(R) platform as it makes its Indirect Finance Program available to the personal watercraft and powersports markets.
AppOne helps to automate the indirect lending, credit approval and compliance processes for lenders and vehicle dealerships. MB Financial Bank initially joined the AppOne platform last year to help automate and simplify loan processing for motorcycle dealers nationwide. The bank has been very pleased with the results and will now use AppOne to connect with personal watercraft and powersports dealers, and accelerate the loan application process in those markets.
“No matter what type of vehicles they are selling, dealerships face a number of the same challenges when it comes to compliance and loan documentation,” said Charles Schaefer, first vice president, Indirect Lending, at MB Financial Bank. “As our Indirect Finance Program grows, we look to the AppOne platform to help us expand our reach to personal watercraft and powersports dealers to better help them address today’s challenges.”
“Our focus is on helping lenders efficiently source business with dealers, while simplifying the loan documentation process and reducing compliance risk,” said Jason Marx, vice president and general manager of Indirect Lending and Mortgage at Wolters Kluwer Financial Services. “MB Financial Bank’s strong indirect lending program makes it a key resource for dealerships using the AppOne platform. We are excited to help support the expansion of MB’s portfolio in the personal watercraft and powersports space.”
Wolters Kluwer Financial Services’ Indirect Lending business unit offers compliance documentation and customizable tools that address the regulatory requirements of the indirect lending market and help mitigate risk. In addition to AppOne(R), other prominent brands include Bankers Systems(R), CompliSource and DocOne(R). For more information, visit www.WoltersKluwerFS.com/Indirect.
About Wolters Kluwer Financial Services
Wolters Kluwer Financial Services is a comprehensive regulatory compliance and risk management business that helps financial organizations manage operational, compliance and financial risk and reporting, and improve efficiency and effectiveness across their enterprise. The organization’s prominent brands include: FRSGlobal, ARC Logics for Financial Services, PCi, Compliance Resource Network, Bankers Systems, VMP(R) Mortgage Solutions, AppOne(R), GainsKeeper(R), Capital Changes, NILS, AuthenticWeb(TM) and Uniform Forms(TM). Wolters Kluwer Financial Services supports its global customers with more than 30 offices in 20 countries and is a leading worldwide provider of compliance and risk management solutions for the financial services industry, serving more than 15,000 banking, insurance and securities customers across the globe. Wolters Kluwer Financial Services is part of Wolters Kluwer, a leading global information services and publishing company with annual revenues of (2010) EUR3.6 billion ($4.7 billion) and approximately 19,000 employees worldwide. Please visit our website for more information.
About MB Financial Bank
MB Financial Bank ( www.mbfinancial.com ) is a locally-operated financial institution that has been delivering competitive personalized service for 100 years to businesses and individuals who live and work in the Chicago metropolitan area. MB Financial Bank has over 90 locations throughout the Chicagoland area. MB Financial Bank is the Illinois local operating unit of MB Financial, Inc., a financial services holding company which is traded on the NASDAQ as “MBFI.” MB Financial, based in Chicago, has approximately $10 billion in assets.
SOURCE: Wolters Kluwer Financial Services