Wolters Kluwer Launches Online Applications Capability for Community Banks, Credit Unions

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Wolters Kluwer Launches Online Applications Capability for Community Banks, Credit Unions


MINNEAPOLIS–(BUSINESS WIRE)–Wolters
Kluwer’s Compliance Solutions business
has launchedOnline
Applications
, a digital offering that integrates with the firm’sComplianceOne®
solution
and its recently launchedVanceo™
Mortgage
offering. The new functionality enhances online loan
application capabilities for community banks and credit unions, allowing
consumers to begin a loan application with their community bank or
credit union from any digital device, at any time.

Online Applications (OLA) empowers community banks and credit unions to
provide a new digital sales channel to reach new customers, and to grow
loan volume, all without the overhead of additional branches. OLA
enables lenders to accept applications without requiring customers to
physically enter a branch. Completion of applications online vastly
reduces lenders’ manual data entry, cuts overhead and streamlines
lending processes.

The module offers enhanced functionality for lenders when combined with
ComplianceOne, an industry-leading loan origination and processing
system that helps lenders optimize their loan and document preparation
processes in a secure, fast, and cost-effective manner.

OLA also offers these advantages when combined with Vanceo Mortgage, a
loan processing and origination workflow tool that helps lenders enhance
their loan origination processes.Vanceo
was launched in October 2018
and is designed to assign role-based
tasks and enhance visibility for an institution’s mortgage lending
operations and compliance management.

“Online Applications is our flagship product commitment in providing
community banks and credit unions with best-in-class digital solutions,”
says Samir Agarwal, Vice President, Wolters Kluwer Governance, Risk &
Compliance Banking Solutions. “This innovative offering enables
community banks and credit unions to foster growth at their own pace,
meet consumer demands for more convenience, and help level the market
competition with larger asset-sized institutions.”

Wolters Kluwer Compliance Solutions, part of the company’s Governance,
Risk & Compliance division, is a market leader and trusted provider of
regulatory compliance solutions and services to more than 2,000 U.S.
banks and credit unions. The business helps these financial institutions
efficiently manage compliance obligations tied to loan and deposit
origination transactions and workflows, and gain the insights needed to
focus on better serving their customers and growing their business.

About Wolters Kluwer Governance, Risk & Compliance
Governance,
Risk & Compliance (GRC) is a division ofWolters
Kluwer
, which provides legal and banking professionals with
solutions to ensure compliance with ever-changing regulatory and legal
obligations, manage risk, increase efficiency, and produce better
business outcomes. GRC offers a portfolio of technology-enabled expert
services and solutions focused on legal entity compliance, legal
operations management, banking product compliance, and banking
regulatory compliance.

Wolters Kluwer N.V. (AEX:WKL) is a global leader in information services
and solutions for professionals in the health, tax and accounting, risk
and compliance, finance and legal sectors. Wolters Kluwer reported 2017
annual revenues of €4.4 billion. The company, headquartered in Alphen
aan den Rijn, the Netherlands, serves customers in over 180 countries,
maintains operations in over 40 countries and employs 19,000 people
worldwide.

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