BATON ROUGE, La. — Alabama Telco Credit Union recently expanded its relationship with Wolters Kluwer Financial Services. The new deal means the 56,000-member credit union now will utilize the AppOne platform that can automate the indirect lending, credit approval and compliance.

Alabama Telco executives pointed out their credit union is one of the top five in the state in terms of vehicle loan volume. They indicated that utilizing AppOne's technology should simplify compliance challenges associated with indirect lending and enable them to process loans more efficiently.

In return, AppOne is designed to connect Alabama Telco with independent dealerships and help to provide more financing opportunities for its members. AppOne can aid lenders assess the risk associated with each dealership while integrating Wolters Kluwer Financial Services' Bankers Systems motor vehicle retail installment contracts.

Company officials stressed that enhanced documentation combined with AppOne's technology can help to ensure compliance with regulations governing lending practices.

Billy Chancellor, Alabama Telco's senior vice president, described further how the new arrangement will help the company's loan penetration in the state.

"A key part of our mission statement is providing our members with a wide range of excellent products," Chancellor pointed out.

"AppOne supports this goal by simplifying compliance and risk mitigation processes, which will allow us to complete loans faster and help meet the auto lending needs of more members," he added.

Lee Domingue, chief executive officer of indirect lending at Wolters Kluwer Financial Services, also commented on the arrangement with Alabama Telco.

"Alabama Telco's reputation is built on more than 75 years of service across the state of Alabama," Domingue noted.

"We look forward to helping the organization connect with auto dealerships that best fit the needs of its members and its indirect lending portfolio," he concluded.