Auto Finance Technologies offers local, regional and national lenders an online platform for receiving credit applications from both independent auto and franchise dealers. The acquisition enables lenders to use a private label version of AppOne's loan origination platform for underwriting loans through these dealers.
"Auto Finance Technologies further enhances the variety of services AppOne provides our customers," said Lee Domingue, CEO of AppOne. "The acquisition also enables us to bring lenders a complete package of technology and financial services that can boost their profitability, performance and the efficiency of their business practices."
AppOne provides fully customized Internet-based software solutions to the automotive finance industry through the AppOne system. This solution is accessed by users through MOSES, a loan processing system for independent auto dealers. Elements of the MOSES system include DealerOne, a dealer underwriting system; OriginateOne, a Web-based loan application origination system; and SterlingWare, a software management system for independent auto dealers.
About AppOne
Based in Baton Rouge, La., AppOne is an Internet-based company offering its AppOne solution that connects independent auto dealers with lenders. The AppOne system relies on the company's proprietary scorecard system, which evaluates an independent dealer to determine the level of risk associated with doing business with that dealer. AppOne provides lenders with a new channel of growth and field representation directly to independent auto dealers nationwide. It also offers independent auto dealers faster financing options for their own customers as well as support services and additional fee-based products. For more information on AppOne, visit the company's Web site at www.appone.net.