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 Ozarks
Bank 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 AppOne
Based 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 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, 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.