Hancock Bank can now access the more than 3,000 auto dealers in the AppOne network. Wolters Kluwer will also help Hancock mitigate risk associated with auto lending. AppOne's dealer underwriting and scoring system is designed to help lenders determine the level of risk associated with each dealer relationship. Additionally, it provides compliant loan documents and automates the lending process, helping reduce documentation errors.
"AppOne's technology helps us grow our business, while saving operational dollars and mitigating risk," said Skip Cotaya, the SVP who manages Hancock Bank's indirect lending division, in a statement. "Ultimately, this makes it much easier for us to evaluate, book and fund auto loans that fit well with our business and help us be more profitable."