MB Financial Automates Indirect Motorcycle Loan Processing

Publish Date: 
Feb 24, 2010

MB Financial Bank has automated loan processing associated with its Indirect Finance Program, which provides retail loans and commercial banking services to motorcycle dealers nationwide.

The bank has done so by adopting the AppOne platform, which automates the indirect lending process for lenders and dealerships by providing credit application workflow automation, compliance document preparation and information service solutions.

Using AppOne, MB says it can easily connect with dealers, accelerate the loan application process and transact loans faster.

AppOne’s DocOne document printing engine and validation tool allows dealers to print loan documents from a standard color laser printer onto plain paper. DocOne also helps ensure that loan documentation is accurate and compliant before reaching the lender for funding consideration.

DocOne uses the Bankers Systems line of documents, which are made by the same company that makes AppOne: Wolters Kluwer Financial Services. The company says its documents are built on more than 50 years of experience and are protected by its industry-leading compliance warranty. DocOne provides data merging and population of these forms through a centralized Web-based delivery source.

“MB Financial Bank recognizes that our national motorcycle dealer base desires alternative processing options that add quality and value to their business,” Charles Schaefer, first vice president of Indirect Lending at MB, stated in a press release. “We believe our partnership with AppOne provides dealers that additional value and options while still granting access to our tailored, high-touch customer service.”

“With one of the longest-running indirect lending programs in the country, MB is undoubtedly a strong partner for motorcycle dealers,” Lee Domingue, CEO of Indirect Lending at Wolters Kluwer Financial Services, stated. “We are excited to help dealerships working with MB simplify the loan process for their staff and customers, and subsequently, book loans faster.”

Posted by Arlo Redwine