Press Releases
October 17, 2006
AppOne Partners with First Advantage CREDCO
Offers dealers credit reports from all three national credit reporting agencies through single platform
BATON ROUGE, La., October. 17, 2006 – AppOne, an Internet-based company that connects independent auto dealers with lenders, today announced a strategic alliance with First Advantage CREDCO, a provider of specialty credit reports to the automotive, mortgage and consumer finance industries.
AppOne, which offers technology and risk mitigation services to lenders and independent auto dealers throughout the continental United States, will deliver First Advantage CREDCO’s products through the AppOne loan portal and its dealer management system, DMSOne. This will provide independent auto dealers with instant access to credit reports from all three national credit reporting agencies – Equifax, Experian and TransUnion.
“We are very pleased to join forces with AppOne. Our services will greatly enhance the AppOne system because it combines various aspects of the loan application process under one umbrella transaction,” said Eric J. Rumsey, president of First Advantage CREDCO. “This partnership will expedite the process of obtaining loan applicant information.”
The alliance eliminates the need for independent dealers to use multiple systems to communicate with the credit reporting agencies, and makes the application process more efficient and less time consuming. Dealers can also use the system to verify the buyer’s identity through a variety of products, helping to eliminate consumer fraud. Those interested in joining AppOne’s nationwide dealer network can also take advantage of the unified dealer signup process between AppOne and First Advantage CREDCO. Participating dealers are then eligible for products and services from both companies.
“This alliance with First Advantage CREDCO is part of our effort to bring a wider variety of integrated products and services to independent auto dealers throughout the country,” said Lee Domingue, CEO of AppOne. “It offers one platform for dealers to perform all functions necessary for efficient and streamlined finance and insurance operations.”
About AppOne
Based in Baton Rouge, La., AppOne is an Internet-based company that connects independent auto dealers with lenders. The AppOne system relies on the company’s proprietary scorecard system, which evaluates an independent dealer to determine the level of risk associated with doing business with that dealer. AppOne provides lenders with a new channel of growth and field representation directly to independent auto dealers nationwide while mitigating the associated risk. It also offers independent auto dealers faster financing options for their own customers as well as support services and access to additional fee-based products. For more information on AppOne, visit the company’s Web site at www.appone.net.
About First Advantage CREDCO
First Advantage CREDCO, a wholly-owned subsidiary of First Advantage Corporation, processes millions of consumer transactions annually and is the leading provider of specialty credit reports and services to the automotive industry. The company also provides the automotive industry with comprehensive identity verification and consumer lead solutions.
About First Advantage Corporation
First Advantage Corporation (NASDAQ: FADV) combines industry expertise with information to create products and services that organizations worldwide use to make smarter business decisions. First Advantage is a leading provider of consumer credit information in the automotive, mortgage and subprime markets; business credit information in the transportation industry; lead generation services; motor vehicle record reports; supply chain security consulting; employment background verifications; occupational health services; applicant tracking systems; recruiting solutions; skills and behavioral assessments; business tax consulting services; insurance fraud, corporate and litigation investigations; surveillance; computer forensics; electronic discovery; data recovery; due diligence reporting; resident screening; property management software; renters insurance and consumer location services. First Advantage ranks among the top companies in all of its major business lines. First Advantage is headquartered in St. Petersburg, Fla., and has more than 4,100 employees in offices throughout the United States and abroad. More information about First Advantage can be found at www.FADV.com.
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