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Consumer Portfolio Services Joins Wolters Kluwer Financial Services’ AppOne Platform
BATON ROUGE, La. – July 29, 2010 – Wolters Kluwer Financial Services has announced that finance company Consumer Portfolio Services, Inc. (CPS) has joined its AppOne platform.
AppOne automates the indirect lending, credit approval and compliance processes for lenders and the auto, RV and marine dealers they serve. CPS is an independent specialty finance company that provides indirect automobile financing.
AppOne will provide CPS with another channel for expanding its indirect lending services to independent auto dealers. AppOne’s proprietary dealer underwriting and scoring system helps lenders evaluate the level of risk associated with each dealer relationship. AppOne also integrates Wolters Kluwer Financial Services’ Bankers Systems motor vehicle retail installment contracts, which are protected by the company’s industry-leading compliance warranty.
“Our key focus is to help dealers find the most competitive programs and financing options available,” said Robert Riedl, chief investment officer at CPS. “AppOne supports that goal by helping us connect with more dealers across the country, while helping to alleviate compliance challenges associated with indirect lending.”
“CPS has built a strong reputation within the auto dealer community,” said Lee Domingue, CEO of Indirect Lending at Wolters Kluwer Financial Services. “We are confident it will be a valuable resource to AppOne’s network of independent auto dealers.”
About Wolters Kluwer Financial Services
Wolters 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, AppOne®, GainsKeeper®, Capital Changes, NILS, AuthenticWeb™ and Uniform Forms™. Wolters Kluwer Financial Services is part of Wolters Kluwer, a market-leading global information services company focused on professionals with annual revenues (2009) of €3.4 billion ($4.8 billion), approximately 19,300 employees worldwide and operations in over 40 countries across Europe, North America, Asia Pacific, and Latin America. Visit our website, YouTube or follow @Wolters_Kluwer on Twitter for more information about our market positions, customers, brands, and organization.
About Consumer Portfolio Services, Inc.
Consumer Portfolio Services, Inc. is a specialty finance company engaged in purchasing and servicing new and used retail automobile contracts originated primarily by franchised automobile dealerships and, to a lesser extent, by select independent dealers of used automobiles in the United States. We serve as an alternative source of financing for dealers, facilitating sales to sub-prime customers, who have limited credit history, low income or past credit problems and who otherwise might not be able to obtain financing from traditional sources.
