Online banking services provider First Internet Bank has joined the Wolters Kluwer Financial Services’ AppOne indirect loan origination platform.
Wolters Kluwer said that the platform will enable the bank streamline and automate its indirect loan application processing and its communications with its dealers.
This includes works of submitting credit applications, valuing collateral and trade-ins as well as printing compliant loan contracts and documents.
Wolters Kluwer added that the platform will also help the lender secure clean funding packages that meet their guidelines to enable compliance with regulatory standards, cut down costs and boost margins.
First Internet Bank SVP retail lending Kevin Quinn said: "Maintaining operational efficiency while mitigating risk will be critical to successfully growing our indirect loan portfolio.
"We believe the AppOne platform will help us achieve this objective and meet our compliance requirements."