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Press ReleaseBank of the Ozarks Joins Wolters Kluwer Financial Services’ AppOne Platform
BATON ROUGE, La. – July 17, 2008 – AppOne, a part of Wolters Kluwer Financial Services, announced today that Bank of the Ozarks, an Arkansas-based bank that offers commercial equipment financing and leasing through Bank of the Ozarks Leasing, joined AppOne’s lender network. AppOne provides Internet-based risk mitigation and financial technology to banks, auto finance companies and independent automotive dealers throughout the United States. Many independent dealers are facing a growing need to work with lenders that can process commercial equipment transactions. Building relationships with these lenders allows dealers to serve more customers, such as those in need of construction or farming equipment, or those who want to purchase a vehicle for commercial use. “If dealers do not have relationships in place with lenders who will finance commercial equipment or vehicles, they often are forced to turn that commercial business away or lose it to dealers who can offer better finance options,” said Lee Domingue, CEO of AppOne. “Through this new relationship with Bank of the Ozarks Leasing, we are not only able to expand our lender network, but also offer independent dealers access to a prime commercial financing source, which can provide additional profit opportunity for their business.” AppOne will help Bank of the Ozarks Leasing continue to build strong dealer relationships and its leasing portfolio, while simplifying the challenges associated with commercial equipment financing origination. "Partnering with AppOne allows us the opportunity for portfolio growth with the thousands of independent dealers currently using the AppOne platform,” said Scott Hastings, President, Bank of the Ozarks Leasing. “AppOne gives lenders peace of mind by helping ensure that the dealers they do business with are meeting industry regulations and lender requirements." About Bank of the OzarksBank of the Ozarks, Inc. is a bank holding company with $3.1 billion in total assets as of June 30, 2008 and its common stock trades on the NASDAQ Global Select Market under the symbol "OZRK". The Company owns an Arkansas state-chartered subsidiary bank that conducts banking operations through 73 offices including 65 banking offices in 34 communities throughout northern, western and central Arkansas, six Texas banking offices, and loan production offices in Little Rock, Arkansas and Charlotte, North Carolina. The company's Web site is: www.bankozarks.com. About AppOneBased in Baton Rouge, La., AppOne, a part of Wolters Kluwer Financial Services, is an Internet-based company offering a technology solution that connects independent auto dealers with lenders. The AppOne system relies on the company’s proprietary scorecard system, which evaluates each independent dealer to determine the level of risk associated with doing business with that dealer. It also automates the funding process for dealers by printing all documents required to complete the booking of auto loans. AppOne provides lenders with a new channel of growth and field representation directly to independent auto dealers nationwide. It offers dealers faster financing options for their customers, support services and additional aftermarket fee-based products. For more information on AppOne, visit www.AppOne.net. About Wolters Kluwer Financial ServicesWolters 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, GulfPak, Desert Document Services®, AppOne®, GainsKeeper®, CCH® Capital Changes, NILS, AuthenticWeb™ and CCH® Wall Street. Wolters Kluwer Financial Services’ solutions include integrated and stand-alone compliance and workflow tools, documentation, analytics, authoritative information and professional services. Customers include banks, credit unions, mortgage lenders, and securities and insurance organizations of all sizes throughout the United States. For more information on Wolters Kluwer Financial Services, visit www.WoltersKluwerFS.com. Wolters Kluwer is a leading global information services and publishing company. The company provides products and services globally for professionals in the health, tax, accounting, corporate, financial services, legal and regulatory sectors. Wolters Kluwer has annual revenues (2007) of €3.4 billion ($4.8 billion), maintains operations in over 33 countries across Europe, North America and Asia Pacific and employs approximately 19,500 people worldwide. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Visit www.WoltersKluwer.com for information about our market positions, customers, brands and organization.
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Jennifer Marso Director of Corporate Communications for Wolters Kluwer Financial Services 612.852.7912 Email Jennifer Charles Miller Senior Public Relations Specialist Banking, Mortgage, and Credit Unions 320.240.5457 Email Charles Angela Peterson Senior Public Relations Specialist Securities, Insurance, and Indirect Lending 612.656.7745 Email Angela |