APPRO Systems Establishes First Commercially Available Interface with RouteOne
ATLANTA--March 15, 2004--| Interface streamlines credit application process for dealers, borrowers and financial institutions |
APPRO Systems, Inc., the leading provider of automated credit risk management and financial technologies for the lending industry, announced at the Consumer Bankers Association 24th National Automobile Finance Conference & Expo that a successful interface has been established between its consumer loan automation system, LoanCenter Consumer(TM), and RouteOne, a joint venture formed by DaimlerChrysler Services, Ford Motor Credit Company, General Motors Acceptance Corp. and Toyota Financial Services, to streamline the consumer credit application process for dealerships and their customers.
The interface will enable automobile dealers within RouteOne's dealer network to directly submit -- through a single point of access -- consumer lease and loan applications online to subscribing financial institutions that utilize LoanCenter Consumer for loan decisioning. RouteOne is currently in pilot testing with 42 dealerships and will follow a geographic rollout plan beginning with the southeast in second quarter 2004. The APPRO interface represents the first commercially available interface between RouteOne and a loan decisioning system provider.
Through RouteOne, dealers will have a common platform for submitting credit application information to finance sources. Automotive dealers and their finance sources can exchange credit application and credit decision information in real-time using RouteOne's web-based network. Finance source response time is dramatically improved from hours to minutes, and the status of pending credit applications can be determined with just a click of a mouse. Additionally, customer satisfaction may be increased as a result of less time spent in the Finance and Insurance office.
"Our agreement with APPRO allows us to provide our financial institutions with further tools to facilitate the credit application decisioning process," said Mike Jurecki, RouteOne CEO. "Many financial institutions, including prime and non-prime, use the APPRO system. It will now be easier for these institutions to connect with RouteOne."
"In the automobile finance business, the ability to generate rapid and accurate evaluations and responses to dealerships is what gives financial institutions a competitive edge in the marketplace," said Steve Uffman, CEO of APPRO Systems, Inc. "By interfacing with RouteOne, we are providing bank and credit union customers with yet another tool to secure market share and realize an optimal return on investment from our loan automation technology."
About RouteOne
Established in April 2002, RouteOne LLC is a joint venture formed by DaimlerChrysler Services, Ford Motor Credit Company, General Motors Acceptance Corporation and Toyota Financial Services to improve the credit application process for automobile dealers, their customers, and participating financial institutions. The joint venture is developing a web-based system that will enable dealers and their finance sources, including captives, banks, and other financial institutions, to exchange credit application and decision information online. More information is available at www.routeone.com.
About APPRO Systems, Inc.
APPRO Systems, Inc. is the lending industry's leading provider of comprehensive, automated credit risk management and financial technologies for the Internet and traditional lending environments. APPRO supports more than 400 financial institutions, with customers of all types in the United States, Canada and Puerto Rico. The company provides rapid implementation time and professional services for its signature product, LoanCenter(TM), a scalable software system that enables high decision quality and speed and automates the entire workflow of processing credit applications and originating loans for lenders of all sizes. The 25-year-old company is based in Baton Rouge, La. with additional offices in Dallas, Texas. For additional information about APPRO, visit the company's Web site at www.approsystems.com.