United Bank of Michigan Selects Wolters Kluwer Financial Services' ComplianceOne® Manager

Wolters Kluwer Financial Services announced today that United Bank of Michigan, a long-time user of the ComplianceOne loan and deposit origination and workflow system, has implemented ComplianceOne® manager, the company’s Software as a Service-based business process management, or BPM solution, to help automate lending workflows and reduce regulatory risk.

According to Cindy Lowman, president of the United Bank Mortgage Corporation, the bank chose ComplianceOne manager to help meet the demands of regulators and business partners for increased data reporting and audit tracking capabilities. Compliance with each of these was becoming more challenging because of the bank’s manual, paper-based reporting processes.

“ComplianceOne manager has become the eyes and ears of our offsite staff, giving them access to loan information without the actual paper file,” said Lowman. “The result is fewer bottlenecks in the lending pipeline, faster processing times, reduced administration time and more responsive customer service.”

In addition, Lowman says the solution’s compliance tracking feature helps assure that the bank meets all compliance requirements. ComplianceOne manager helps users recognize which tasks are the bank’s top priorities at any given moment, and ensures that each step in the documentation process is completed on time and meets regulatory requirements.

“Implementing a BPM solution helps financial institution’s gain better process visibility. With the ability to monitor loan portfolios in real time, financial institutions can proactively detect and respond to changes in the marketplace before they erupt into serious business or compliance issues,” said Lisa Fraga, vice president and general manager, Banking Solutions, Wolters Kluwer Financial Services.

ComplianceOne manager helps organizations continually operate at optimal business levels by treating lending workflow processes as strategic assets that directly contribute to overall enterprise performance. Another advantage of ComplianceOne manager is that it encourages better collaboration among employees. Lending officers, underwriters and loan processing staff all have access to the same information, so they can work together more effectively. As a result, financial institutions can engage more freely with customers, respond to their queries faster, decrease cycle times and errors, and focus on the right customer-centric business tasks—all of which are prerequisites to achieving higher customer satisfaction levels.

ComplianceOne manager can be used on its own, with Wolters Kluwer Financial Services’ ComplianceOne or ARTA Lending solution, or with another loan origination system.

For more information on ComplianceOne manager, please visit www.WoltersKluwerFS.com/ONE.

About Wolters Kluwer Financial Services
Wolters Kluwer Financial Services provides more than 15,000 customers worldwide with risk management, compliance, finance and audit solutions that help them successfully navigate regulatory complexity, optimize risk and financial performance, and manage data to support critical decisions. With more than 30 offices in 20 countries, our prominent brands include: AppOne®, ARC Logics®, AuthenticWeb™, Bankers Systems®, Capital Changes, CASH Suite™, FRSGlobal, FinArch, GainsKeeper®, NILS®, TeamMate®, Uniform Forms™, VMP® Mortgage Solutions and Wiz®. Wolters Kluwer Financial Services is part of Wolters Kluwer, which had 2013 annual revenues of €3.6 billion ($4.7 billion), employs 19,000 employees worldwide, and maintains operations in over 40 countries across Europe, North America, Asia Pacific, and Latin America. Wolters Kluwer is headquartered in Alphen aan den Rijn, the Netherlands. Its shares are quoted on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices.