Minneapolis, MN – Wolters Kluwer Financial Servicesannounced today that Medallion Bank has joined its AppOne® platform. AppOne automates the indirect lending, credit approval and compliance processes for lenders and the RV and marine dealers they work with.
Medallion Bank, which specializes in financing customers with past credit problems, provides financing to bank-approved marine and recreational vehicle (RV) dealers across the United States. AppOne will help Medallion Bank automate credit application processing for those dealers.
“Not only will AppOne help us simplify our loan approval and origination process, but it will also help us connect with more marine and RV dealers across the country,” said John Haymond, VP of Business Development at Medallion Bank. “This is a key benefit for our business as we focus on sustainable growth.”
“With current economic challenges, dealers need access to more nonprime lenders in particular—even for customers that have good financial standing,” said Jason Marx, vice president and general manager of Indirect Lending and Mortgage at Wolters Kluwer Financial Services. “Working with Medallion Bank supports our goal to provide dealerships with a complete portfolio of lenders to help with the various financing needs of their customers.”
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®, other prominent brands include Bankers Systems®, CompliSource and DocOne®. 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, ARCLogics for Financial Services, PCi, Compliance Resource Network, Bankers Systems, VMP® Mortgage Solutions, AppOne®, GainsKeeper®, Capital Changes, NILS, AuthenticWeb™ and Uniform Forms™. 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) €3.6 billion ($4.7 billion) and approximately 19,000 employees worldwide. Please visit our website for more information.
About Medallion Bank
Medallion Bank specializes in financing non-prime recreation loans nationwide and extends loans on other consumer and commercial loan products. The Bank and its personnel have years of experience in providing consistent and sustainable loan programs with unsurpassed customer service to take care of clients in each area of its expertise. For non-prime recreation loans, the Bank offers an alternative finance option to conventional lenders and their traditional credit scoring requirements; the Bank looks at and evaluates each customer’s entire profile when making loan decisions, including applicants who have re-established their credit from a previous bankruptcy or other credit challenges. For more information about Medallion Bank, visit us at www.medallionbank.com.