Merrick Bank offers boat, RV and motorcycle loans and works closely with dealers to help bad credit history customers in retaining valuable customers.
Initally, the AppOne platform will connect Merrick Bank with Tracker Marine Financial Services’ network of dealerships, with plans to add additional dealers and dealer groups in later phases.
In addition to automating credit application processing and underwriting, AppOne also integrates Wolters Kluwer Financial Services’ Bankers Systems retail installment contracts, which document the financing of vehicle loans.
The contracts will be maintained by Wolters Kluwer Financial Services’ compliance team who monitor legislative and regulatory changes affecting the indirect finance industry in all US jurisdictions. The contracts will be protected by the company’s limited compliance warranty.
Wolters Kluwer Financial Services CEO of Indirect Lending Lee Domingue said adding Merrick Bank to the lender platform will help marine, RV and powersports dealers serve a wider range of customers.
