Wolters Kluwer Granted Patent for AppOne Solution

July 08, 2010

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BATON ROUGE, La. — Wolters Kluwer Financial Services revealed this week that it received notification from the United States Patent and Trademark Office regarding one of its solutions.

Federal officials gave a U.S. patent to Wolters Kluwer for its AppOne solution. The company explained AppOne can automate indirect lending, credit approval and compliance processes for independent dealers and the lenders that serve them.

Wolters Kluwer executives said the patent — U.S. Patent No. 7734530 — recognizes AppOne's method and corresponding software program for handling vehicle sales, which traditionally have required many individual transactions in order to complete the sale of a vehicle.

The patent cites AppOne's "much-improved mode of handling the acquisition process" by unifying the transactions, mitigating risk and decreasing complexity and costs associated with indirect auto lending. It also notes that AppOne's method can offer dealers full-spectrum lending options and help financial institutions increase loan portfolio performance.

"Our continued focus is to facilitate auto lending transactions while helping ensure compliance, simplify loan documentation and combat fraud," stated Lee Domingue, chief executive officer of indirect lending at Wolters Kluwer.

"This patent is a great achievement," Domingue continued. "It affirms the unique value that AppOne brings to the indirect auto lending market and its ability to offer a ‘one-stop shop' for independent dealers, lenders and service providers."

For more details about AppOne, visit www.appone.net.