Wolters Kluwer Financial & Corporate Compliance is returning to the indirect auto lending forms market with new retail installment sales contracts (RISCs) and lease agreements for auto dealers and lenders.
The company said the new forms are designed to help dealers, lenders and consumers navigate increasingly complex lending and compliance requirements while making the contract process more efficient.
Wolters Kluwer has also begun working with automotive dealership technology providers to make the lending documents available through dealership systems. The company said the approach is intended to help dealers complete indirect lending transactions while giving lenders greater confidence in the documents they receive for review, acceptance and funding.
The offering includes RISCs and lease agreements supported by Wolters Kluwer's compliance content, governance and ongoing regulatory maintenance. The return comes as lenders and dealers face changing regulatory requirements and continued movement toward digital lending processes.
“For decades, financial institutions have relied on Wolters Kluwer solutions to support critical lending processes,” said Keri McCollum, director of market strategy at Wolters Kluwer Financial & Corporate Compliance. “As we expand our indirect lending portfolio, we’re not simply reintroducing contracts to the market.”
McCollum said the company is taking a new approach to vehicle financing documentation that combines its regulatory expertise with technology designed to support future changes in the industry.
For dealers, the forms will be available through participating dealership technology vendors, giving them another option for handling the documentation required in indirect financing transactions.
