Netupdate Adds Consumer Loan Functionality to Originator Pro
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Customer Demand Leads to Initial Interface With Wolters Kluwer Financial Services' ARTA Lending System
BELLEVUE, Wash., May 10 // -- Netupdate, Inc. has added consumer lending functionality to Originator Pro, the company's Web-based online point of sale technology for the mortgage lending industry. The company has already created its first interface from the application to the ARTA(R) Lending Documentation System, a solution built upon the more than 50 years of experience and knowledge behind Wolters Kluwer Financial Services' Bankers Systems product line.
The addition of consumer loan functionality to Netupdate's Originator Pro solution allows lenders to provide a safe and secure online application for consumer loans with collateral such as new and used automobiles, recreational vehicles, boats and motorcycles, as well as unsecured loans.
Once a consumer loan application is received by a lender, the data within can easily be printed or exported to Wolters Kluwer Financial Services' ARTA Lending system through the new interface.
Netupdate and Wolters Kluwer Financial Services previously announced a mutual referral agreement and interface between Originator Pro's mortgage functionality and the ARTA Lending system in May 2006.
"The new technology enables both companies to offer additional functionality to their customers," said Diane Holmstrom, chief executive officer of Netupdate. "We are delighted to respond to the many customer requests by adding the online consumer application. This new tool for generating additional loan business via the internet will support decreased costs and increased business for our customers. The first interface being rolled out is for ARTA Lending with Wolters Kluwer Financial Systems, our valued business partner."
"The expansion of our partnership with Netupdate will allow Wolters Kluwer Financial Services to provide financial organizations with even more flexibility in the way they choose to do business with their customers and demonstrates our continued commitment to our ARTA Lending platform," said John Bryant, executive vice president of Banking for Wolters Kluwer Financial Services.
Firstbank Corporation of Alma, Mich., an existing Netupdate and Wolters Kluwer Financial Services customer, plans to take advantage of the new consumer lending functionality and interface.
"The ability to have the customer input the consumer loan application into Originator Pro, have it flow directly to ARTA Lending and subsequently to our core system with little additional data entry is a huge efficiency factor," said Pam Trask, Loan Operations manager for Firstbank Corporation.
About NetUpdate, Inc.
Based in Bellevue, Wash., Netupdate, a developer of lending technologies, offers Originator Pro, an integrated, online point-of-sale system for retail and wholesale lenders who want to increase business from the Internet. Netupdate's Software as a Solution allows mortgage professionals to work together online to collect borrower information, provide regular communication and status updates, and to move loan data to loan origination systems, significantly reducing the time, cost and complexity of these financial transactions. For more information on Netupdate visit the company's Web site at www.netupdate.com .
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, 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 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 .
Source: Netupdate, Inc.
CONTACT: Sue Ellingson, Director of Marketing of Netupdate, Inc.,
+1-425-605-2731, sue.ellingson@netupdate.com
Web site: www.wolterskluwer.com/
Web site: www.netupdate.com/
