Financial Service helps credit unions meet compliance needs.
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Press Release Summary:
Targeting credit union marketplace, ComplianceOne(TM) provides tools to create consumer, commercial, and mortgage loans as well as IRA or new deposit accounts from compliance, work flow, and data perspective. It provides access to lending and deposit-related functionalities, including dynamic documents, imaging, e-signatures, barcoding, and credit bureau access. Service also allows credit union staff to open new loans and accounts and complete transactions through common database structure.
Original Press Release:
Wolters Kluwer Financial Services Offers Credit Unions 'One' Comprehensive Solution to Help Meet Compliance and Operational Risk Management Needs
ComplianceOne Gives Credit Unions All Tools Needed to Create Complete Loan, Mortgage, Deposit or IRA Packages on Single Delivery Platform
MINNEAPOLIS, July 17 /-- Wolters Kluwer Financial Services announced today the company is introducing its ComplianceOne(TM) solution to the credit union marketplace. ComplianceOne is a comprehensive and highly configurable solution that gives credit unions all the tools needed to create a complete consumer, commercial and mortgage loan as well as an IRA or new deposit account from a compliance, work flow and data perspective on a single delivery platform.
ComplianceOne will help credit unions comply with the unique documentation requirements tied to consumer and business-related lending and deposit transactions. The solution provides a credit union with access to a wide range of lending and deposit-related functionalities, letting them choose and activate which ones they need when they need them. Some of the more in-demand functionalities include dynamic documents, imaging, e-signatures, bar-coding and credit bureau access. Offering credit unions enterprise-wide access to member information, ComplianceOne also allows credit union staff to open new loans and accounts and complete transactions quickly through the solution's common database structure.
"What really makes ComplianceOne unique is we've packed the most comprehensive compliance capabilities available in the industry into a single, easy-to-use platform," said John Bryant, senior vice president of Banking for Wolters Kluwer Financial Services. "By taking the best compliance and technology attributes from our existing market-leading Bankers Systems software and PCi compliance analytics solutions and weaving them together, we've created one solution that supports all of a credit union's major business lines."
ComplianceOne's business lending and deposit functionalities are now part of the Preferred Partner relationship between the National Association of Federal Credit Unions Services Corporation (NAFCU Services) and Wolters Kluwer Financial Services. NAFCU Services already recommends Wolters Kluwer Financial Services' business lending and deposit solutions, including the company's Rembrandt Lending System, ARTA Lending and ARTA Deposit solutions. NAFCU Services and its Advisory Committee, composed of credit union executives, went through a stringent review process to select Wolters Kluwer Financial Services as a Preferred Partner.
"Growth is an essential component of every credit union's strategic plan today, and a key element is the ability to expand into new markets such as business lending and deposit services," said NAFCU Services President David Frankil. "ComplianceOne can help credit unions address all of their compliance and operational risk management while helping increase operational efficiencies across their organizations."
ComplianceOne supports a quick return on investment for credit unions because staff can become competent on the system in a short amount of time. This easy-to-use software leverages the common database structure and robust rules management capabilities found within Wolters Kluwer Financial Services' Expere solution. Expere draws upon a central content repository to deliver data through a state-of-the-art document generation engine. The rules within Expere are based on legislative and regulatory requirements for all 51 U.S. jurisdictions, a credit union's specific business practices and policies, and Wolters Kluwer Financial Services' compliance expertise.
To help credit unions meet a multitude of regulatory obligations, Wolters Kluwer Financial Services also offers the option of purchasing access to its PCi family of compliance analytics tools through ComplianceOne. The integration helps credit unions comply more easily with the obligations associated with the Home Mortgage Disclosure Act (HMDA), flood determinations, (Automated Valuation Models) AVMs, tax and title searches, fair and predatory lending requirements and Bank Secrecy Act (BSA) and anti-money laundering requirements, including USA PATRIOT Act and "Customer Identification Program" requirements.
For more information on ComplianceOne, please visit http://www.wolterskluwerfs.com/one.
About Wolters Kluwer Financial Services
Wolters Kluwer Financial Services provides best-in-class compliance, content, and technology solutions and services that help financial organizations manage risk and improve efficiency and effectiveness across their enterprise. The organization's prominent brands include Bankers Systems, VMP(R) Mortgage Solutions, PCi, GulfPak, Desert Document Services, GainsKeeper(R), CCH(R) Capital Changes, NILS INSource(R), AuthenticWeb(TM) and CCH Wall Street.
Wolters Kluwer Financial Services' solutions include integrated and stand-alone compliance and work flow tools, documentation, analytics, authoritative information, and professional services. Customers include banks, credit unions, mortgage lenders, and securities and insurance organizations of all sizes throughout the United States. For more information on Wolters Kluwer Financial Services, visit http://www.wolterskluwerfs.com/.
Wolters Kluwer is a leading global information services and publishing company. The company provides products and services for professionals in the health, tax, accounting, corporate, financial services, legal and regulatory, and education sectors. Wolters Kluwer has annual revenues (2006) of euro 3.7 billion, employs approximately 19,900 people worldwide and maintains operations across Europe, North America, and Asia Pacific. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its shares are quoted on the Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. For more information, visit www.wolterskluwer.com/.
About NAFCU Services Corporation
NAFCU Services Corporation is a wholly owned subsidiary of the National Association of Federal Credit Unions (NAFCU). Since 1975, NAFCU Services has partnered with the industry's leading solutions providers to offer value-added products and services at a discount to credit unions. Currently, it offers 22 Preferred Partner programs to the credit union community. For more information about NAFCU Services Corporation, please visit www.nafcu.org/nsc.
CONTACT: Jennifer Marso, Director of Corporate Communications, +1-612-852-7912, Jennifer.marso@wolterskluwer.com, or Chuck Miller, +Senior Public Relations Specialist, +1-320-240-5457, charles.miller@wolterskluwer.com, both of Wolters Kluwer Financial Services; or David Frankil, President of NAFCU Services Corporation, +1-703-522-4770 x226, dfrankil@nafcu.org
Web site: www.wolterskluwer.com/ http://www.nafcu.org/nsc
